November Market Snapshot #4

Continuing from strength to strength, the real estate market in Sydney had another fantastic weekend of sales last week, reaching a clearance rate of 80 per cent and highlighting the continuing growth of the New South Wales capital city.

The latest results from the Australian Property Monitors (APM) indicated that, while the clearance rate was down by one percentage point over the week prior, the number of properties up for sale also reduced over the period.

There were 466 properties on the market over the last weekend, following a huge 502 listed a week ago. Furthermore, there was an impressive $397,278,400 total sales in the region over the weekend, with the market reaching a median sale price of $898,000.

Two properties sold in Leichhardt for well over the median price, which could be encouraging for anyone considering selling their Inner West real estate in the coming weeks. A two bedroom property sold for $1,050,000, while a three bedroom property in the same area sold for $1,255,000.

These types of homes are perfect for any young families looking to purchase real estate near the central business district. Located close to a number of essential amenities, while still retaining a degree of individuality from the city, they are perfect for raising children.

For example, this three bedroom property in Lilyfield has two schools within less than one kilometre, with another seven just over 1.5 kilometres away. Furthermore, the home is extremely close to a number of outdoor recreational areas, including Leichhardt Park and Giovinazzo Grove.

This could offer a great place to raise a family, providing your kids with everything they need to have a great childhood experience, as well as giving you the proximity to the central business district while being removed enough to have a lovely suburban life.