January 2024 quarter
Sydney’s housing market commenced the year with record house prices and units close to full recovery. House prices now sit about $6,000 above the previous peak and are on track to surpass $1.6 million next month. The recovery in unit prices has picked up pace – leaving only about $12,000 to recoup. Property prices face headwinds from stretched affordability, undersupply of new homes, cost-to-build blowouts, cost of living pressures and high interest rates. However, a growing population, strong overseas migration and a tight rental market continue to boost demand. High interest rates will exert stress on mortgage affordability, but housing demand is expected to lift if interest rates are cut in a timely manner – this will encourage more sellers to list.
Auction Market
Houses
Units
Days on market
The average number of days Strathfield – Burwood – Ashfield properties were advertised for, in the last 3 months
Origin of enquiries
