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September Market Update

Sep 27, 2024

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September Market Update

The Ryde and Hunters Hill property markets remained resilient through September, with continued strong buyer interest, particularly for well-presented family homes and investment properties. Auction clearance rates in the area hovered around 70%, reflecting solid competition, especially for properties with unique features or in premium locations.

Key trends this month:

  • Steady buyer demand: Despite rising interest rates, buyers are still active, especially in the $1.5M–$2.5M range.
  • Rental demand surge: The rental market has seen significant activity, with quality apartments and homes leasing quickly. Rental yields have strengthened due to reduced supply and increased tenant demand.
  • Renovation appeal: Properties with modern upgrades, particularly kitchens and bathrooms, are commanding higher prices. Buyers are increasingly prioritizing homes that are ready to move into without requiring renovations.

Looking ahead, with the spring selling season ramping up, we anticipate a rise in listings, which could provide more choice for buyers but also introduce greater competition among sellers. Stay tuned as we continue to monitor market movements closely.

If you're thinking of selling, leasing, or just want an update on your property's value, Nicholls & Co is here to assist!

 

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