Northern Beaches
How did the property market perform this quarter? Welcome to our latest quarterly market report, where we unveil the latest trends and insights in real estate, providing valuable information for property owners, buyers and investors.
Sydney Residential Quarterly Report
Monthly Change: +1%
Quarterly Change: +2.5%
Annual Change: +7.3%
Median Value: $1,110,660
Our Quarterly Performance (Jul-Sep)
Sales: 30
Total Sales Volume: $72,809,000
Avg. Sale Price: $2,426,967
Highest Sale Price: $6.5m
Avg. Days On Market: 34.6
Quarterly Overview - General Market Update
CoreLogic’s national Home Value Index recorded a 0.8% rise in September (1.0% in Sydney) as the recovery trend moved through an eighth consecutive month of growth. The rise follows a 0.7% lift in August taking the quarterly pace of growth in national home values to 2.2% (2.5% in Sydney) - CoreLogic's Research Director - Tim Lawless
In 2023, short-term resales are a major housing market trend in comparison to normal. CoreLogic's analysis reveals that during the winter, about 16% of newly listed properties for sale had been owned for less than three years.
These resales can occur for various reasons, such as house flipping, capital gains, or job-related moves. However, rising interest rates and high living costs may also contribute to the increase in short-term resales. This trend became noticeable from May 2022 when the cash rate started to rise after record lows, suggesting the influential role rate rises played in short-term sales.