October Market Snapshot #5

With the summer weather heading our way, the auction scene in Sydney is remaining as hot as ever, retaining a high clearance rate of 84 per cent this past weekend and showing no signs of slowing down

There were a total of 413 properties sold across the New South Wales capital city, with a median house price of $904,137. Overall, the total sales for the weekend rounded out at $384,252,800 - an all-round great result for the market.

The Inner West suburbs experienced their fair share of sales as well, further established the area as a great place for young professionals, families and investors to purchase property and cement themselves in an affluent part of Australia's most global city.

For example, a three bedroom Balmain property sold on Short Street for $1,287,000, surpassing the capital's median house price for the period and securing the owners a decent return for their real estate efforts.

But one of the real winning suburbs this past weekend was Rozelle, where three properties were sold in excess of $1,000,000. One four bedroom home shot through the ranks and secured a fantastic return of $2,115,000 - an overwhelming good result for one of Sydney's best Inner West suburbs.

Furthermore, a four bedroom property in Lilyfield sold for a whopping $1,595,000, while another two bedroom place sold for $740,000, making it a great weekend for selling property within these suburbs and illustrating the continued growth heading into the future.

Regardless of whether you're looking into buying property in Balmain and the surrounding suburbs or selling one, now could be the perfect time to get in contact with the team at Coopers Agency and discuss the options available to you with a professional.