Sydney Property Update Feb ’21 Direct from the Front Line

 

Sydney Property Market Update 23 Feb 2021!

Coming to you from the front line, direct from the source- here’s what’s happening in property land in Sydney’s Eastern Suburbs, Inner West, and Lower North Shore!

– Any property with a land component, free standing homes, semis, townhouses with a decent sized outdoor area, are going for very lofty prices.
– The first home buyer segment of the market is busy as well, lots of buyers, with a fair few properties changing hands.
– Im seeing demand from downsizers/empty nesters for luxury apartments in the $2m+ range across the East.
– A number of mortgage brokers are reporting loan enquiries and approvals are up 50% compared to this time a year ago, perhaps indicating there are more buyers on the sidelines to enter the fray
– Supply of good property is tight across most categories. Both selling agents and buyers agents are working hard to bring more to market.
I’ve noticed Uber drivers talking about property which means Sydney property is bubbling away- perhaps even getting frothy.

Til next time.