April Market Snapshot #1
The auction clearance rate has increased over the last week for Sydney's auction market, with a number of these successes coming from the Inner West suburbs over the last weekend (March 29). With the growing popularity of the nation's real estate with both natives and international migrants, there could be a number of opportunities for securing fantastic returns on your properties in the near future - whether they be in Balmain, Lilyfield or Leichhardt.
Overall, the total value of sales seen across the New South Wales capital city was $329,753,800 with a median price of $914,000. As the average price fr Sydney property continues to creep upwards, so too do your chances of successfully selling your home for a decent price in the near future.
For example, four three-bedroom homes in Lilyfield sold for over $1 million, beating out the median price and satisfying the desires of the previous owners. In fact, the four properties secured prices ranging from $1,345,000 down to $1,100,000 - a healthy return for lifestyle properties in the bustling Inner West suburb.
Furthermore, two properties sold in Drummoyne over the weekend as well. A four-bedroom home managed to secure a sale price of $1,255,000, while a two-bedroom flat in the suburb received a huge $1,300,000.
As the popularity of Sydney as a migration option continues to grow, there will be a number of new opportunities to put property up on the market and earn a decent return from your initial investment - especially if you've undertaken renovations and maintained the overall integrity of the property.
For those looking into purchasing Inner West property, there are a wide range of great deals on offer from Coopers Agency at the present time.
This two-bedroom property in Leichhardt could be great for a professional couple, as an investment property, or for those looking to downsize and retire in comfort. Just a short walk to Marketplace Leichhardt and with easy access to public transport, this could be the perfect property for you.
