June Weekly Market Snapshot #1

Winter has arrived in Australia, but across Inner West Sydney auction results are heating up. Take a look at our weekly market snapshot for the week ending June 9 to find out more.

An impressive four bedroom, two bathroom property on Duke Street in Balmain East sold for more than $2 million on Saturday, highlighting the fact that Balmain real estate is in hot demand.

The Duke Street property sold for a final price of $2,200,000, leaving it in third place on the list of all the properties sold at auction in Sydney last week, according to the APM Home Price Guide.

A one bedroom property in Rozelle on Nelson Street was also scheduled to go under the hammer, however was sold prior to the auction.

In total, 138 out of 171 Sydney properties set to go to auction last week were sold, while 28 were withdrawn. That marks a solid final clearance rate of 70 per cent, with a median price of $700,000.

If you are thinking of selling Inner West real estate in the near future, now might be a great time. Australian Property Monitors senior economist Dr Andrew Wilson has speculated that Sydney buyer activity will remain strong going into winter, following a particularly impressive autumn.

Anyone looking to buy property in Sydney's Inner West will be interested to learn that a four bedroom, two bathroom home in Drummoyne will be auctioned off on Thursday June 27.

The property, on 15 South Street, offers a terrific location close to schools and shops, and a spacious, redesigned interior. It is well worth a look if you want to purchase a home in one of Sydney's key real estate hot spots.

You can view this property on Wednesdays from 1PM to 1:30PM and from 6PM to 6:30PM for the rest of the month. It will also be open on Saturdays from 1:00PM to 1:30PM.