August Market Update

The Sydney property market maintained steady momentum through August, with a balance of cautious optimism and strong competition shaping both the sales and rental sectors. While broader economic factors such as interest rates and inflation continue to influence buyer sentiment, low stock levels remain the defining feature of the market. This shortage is keeping prices resilient and driving competition for well-presented homes across our local suburbs.

Sales Market

Across Sydney, house values edged higher again in August, while unit values recorded modest growth. Locally, the trends varied by area:

• Hunters Hill continued to demonstrate the strength of the prestige market. Demand for quality family homes in the area’s leafy streets has been consistent, with many buyers drawn to the unique blend of community, heritage and proximity to the city. Properties that are styled and move-in ready are achieving standout results, while those needing work are still attracting interest, albeit at a more measured pace.

• Canada Bay remained a standout performer. Lifestyle continues to be a driving factor, with waterfront homes and properties close to village hubs and transport commanding strong premiums. Units with modern finishes and access to amenities are also in high demand, reflecting ongoing appeal to downsizers and young professionals.

• Ryde saw a more mixed result. Houses recorded steady gains, supported by demand from families seeking larger blocks and established homes close to schools and transport. Units, however, remain more price-sensitive, with buyers prioritising value and quality. Well-maintained apartments are moving, but older stock is facing greater scrutiny.

A common theme across all three areas is the importance of presentation. Homes with strong street appeal, thoughtful styling and modern upgrades are generating multiple offers, often in shorter timeframes, despite a more cautious backdrop.

Rental Market

The rental market continues to tighten, with vacancy rates across Sydney at historic lows. Locally, the story is much the same:

• Canada Bay rents climbed further in August, with houses up around 10% year-on-year and units also seeing strong demand. Lifestyle remains a key factor, with tenants prioritising proximity to parks, transport and waterfront access.

• Ryde presented a split picture, with unit rents trending upwards while house rents eased slightly. This reflects shifting demand as affordability pressures lead many tenants to opt for smaller, more affordable dwellings.

• Hunters Hill recorded steady rental conditions, with average weekly rents holding at approximately $1,200 for houses and $600 for units. Well-presented homes are still leasing quickly, often after the first inspection.

Competition at open homes remains strong, and many properties are leasing within days. Tenants are well-prepared with applications and willing to act decisively to secure a home.

Outlook

Looking ahead, the spring selling season is expected to bring more listings to market, which may offer buyers greater choice. However, demand is likely to remain ahead of supply, keeping prices underpinned in the sales market and competition high in the rental sector.

For buyers and renters alike, preparation and decisiveness remain critical. For sellers and landlords, careful strategy and presentation continue to deliver excellent results in a competitive environment.

At Nicholls & Co, we are here to guide our clients through these conditions with tailored advice and proven expertise in the Hunters Hill, Ryde and Canada Bay markets.