Well here we are, school’s back and a degree of normality has set in to life with the daily routine and holidays seem a distant memory. Well the market around the Camden district caught its breath and off it has gone for another year.
The market has continued to be very much as it was in 2016, with a decided lack of stock fuelling strong demand across all price ranges. Secretly, I think all agents were hoping for the new year to bring new and increased stock levels, but not as yet.
The Sydney auction clearance rate last weekend was a very healthy 84% on the back of a building stock level. As numbers start to really increase in late Februray and early March, it will be interesting to see if this strong clearance rate subsides. My thinking is not.
The big 4 banks have all started to move their fixed rates up and they have tightened lending to investors. This could see more stock come to market if the media start to push this. It may have the effect of people thinking interest rates are going up, now we need to sell before the market slows. It remains to be seen whether this will happen or not.
So if you are thinking of selling, let me assure you, now is a great time.
The property video attached is of “Wirrinya” at Grasmere, it goes to auction On Site on 26.2.17 at 11am. We are extremely proud to be offering this landmark property on behalf of our clients.