RP Data Market Indicators show that Sydney auction clearance rates are now around 75% up from 50% a year ago. New listings are down 12.7% from a year ago and the average time a property is on the market is down to 35 days.
Many economists have predicted that it was Sydney's time for some capital growth and it appears to be happening right now.
What to do if you are looking for property now.
Does as much research as you can - Ask us for some Free RP Data Reports, attend as many open houses and auctions as you can.
Make sure you have a pre-approval so you can jump on a property as soon as you can. You need to be more prepared than those other buyers in the market.
CONSIDER A PRE-AUCTION BID
Most vendors will consider an offer prior to auction. It saves them time an money. Don't be afraid of making an offer prior to auction . . . . just make sure you have an approval and the contracts are checked by your conveyancer or solicitor.
If you need act quickly, then Premium Broker can help with obtaining an Upfront Valuation. We have access to a number of lenders who allow us to order the Valuation upfront. This can save days that can be critical to obtaining your dream house . . . . . . before someone else does.