March Market Snapshot #4

The last week in Sydney's Inner West suburbs has seen large degrees of growth, which could be great news for those interested in buying or selling property throughout Balmain, Lilyfield, Leichhardt and the other region's in the New South Wales capital city. With an auction clearance rate of 81 per cent over the last weekend alone, these options are becoming more viable each week. 

According to Paul Cooper, director for Coopers Agency, the market has remained extremely buoyant over the last week. He mentioned that demand is outstripping stock on the market at the moment, especially in the Inner West. 

"We've had an extreme amount of hits on our web portals, including some of the unrenovated properties. There have also been some good hits on the renovated properties, with good feedback from the website on the whole," said Mr Cooper in an interview. 

Furthermore, there were two auctions occurring through Coopers Agency with interest piling up. There were 15 contracts given out for one of the homes, while the other had seven contracts requested - highlighting the high degree of interest in property in the area. 

On the whole, there were a number of sales seen in the Inner West region of Sydney over the last weekend. According to the latest release from Australia Property Monitors, the median sale price was $935,000 across Sydney, with a total sale amount of $28,258,600. 

Specifically, there was a three-bedroom property sold in Balmain for $1,350,000, while two properties in Leichhardt sold for over $1,000,000, aiding the overall growth of the region and highlighting the potential for achieving great returns on selling Inner West property. 

There are also great options for those looking to buy Inner West real estate in the future. For example, this two-bedroom home in Balmain is located close to Darling Street and could be perfect for young professionals or anyone interested in small investment in the region.