November Market Snapshot #3

There were more properties listed for sale across the Sydney region this last weekend, as people begin to take advantage of the seemingly unstoppable market growth occurring in the New South Wales capital.

According to the Australian Property Monitors (APM), 502 properties were listed for sale on Saturday (November 16). Out of these, 429 of them were successfully sold - leading to a slightly reduced clearance rate of 81 per cent. Citywide, there were a total of $405,810,600 sales all up .

This is still a fantastic result and should be extremely encouraging for those hoping to sell Inner West real estate. The median sale price grew over the last week, rising from $890,000 up to a huge $916,000, highlighting the gradual and continual increases occurring in this market.

There was only one property sale in Balmain. A two bedroom house on Beattie Street sold for $1,350,000 - well above the median price and giving evidence to the growing popularity of real estate in affluent neighbourhoods.

However, the real winners were the vendors of a four bedroom home in Lilyfield. The property on Campbell drive sold for a substantial $2,280,000.

Because of the proximity to the Sydney central business district, property in this region is experiencing a boost in popularity.

Real estate in the Inner West offers buyers a number of great investment prospects, especially for anyone looking to secure property located close to public transport and local amenities.

However, there are always a number of golden opportunities to secure property in Sydney's Inner West suburbs.

An example would be this quaint three bedroom home in Rozelle, which is nestled in the quiet suburb and offers a lifestyle community that could be perfect for young professionals or those with children.