December Market Snapshot #4

The real estate market in Sydney has slowed down with Christmas just round the corner, according to the latest data released by the Australian Property Monitors (APM).

The APM has recorded a reduced auction clearance rate of just 69 per cent over last weekend (December 21) - the lowest clearance rate seen in the New South Wales capital in months.

However, this doesn't necessarily imply bad news. As people begin to gear up for their Christmas holidays, it makes sense to see a decrease in the property market, with many buyers likely to return in strength in the new year.

There were 311 properties listed for auction over the weekend, with 178 actually occurring. There were 134 successful sales, with a total sales amount reaching $101,219,200. The median price for property over the weekend was $728,000 - a decrease from last week's $820,000.

If you're interested in taking advantage of the market at the moment, now could be the perfect time to consider purchasing property in Sydney's Inner West suburbs.

For example, this three bedroom property in Lilyfield could be perfect for a young family looking to purchase their first home in the region.

With a close proximity to a number of schools in the area, including Orange Grove Public School and Rivendell Public School, this could be gold for those with children or planning on having kids in the near future.

Furthermore, the home is near the City West Link, which provides quick, easy access to the Sydney central business district - making it suitable for those working in the CBD but who want to live outside the hustling, bustling metropolitan of Sydney's inner city.

This could present a fantastic slice of Inner West real estate for any Sydneysiders looking for a change of pace and a family-oriented property to call home.