Market wrap for Strathfield – Burwood – Ashfield

September 2024 quarter

Spring 2024 has already been a standout, with new seller activity reaching record highs for the month of September. However, buyer demand hasn’t kept pace, as many are likely waiting for a potential cash rate cut to enhance their borrowing power. This tempered demand has driven total supply to its highest level since March 2019. Buyers now find themselves in one of the most favourable spring markets in years, with total choice at the second-highest level on record for early spring. As stock levels rise, clearance rates have softened to the lowest this year, properties are staying on the market longer, and price negotiations have become more common.