Holmes ST Clair

Sean St. Clair Principal 8964 8880 | 0410 506 661 sean@holmesstclair.com Robert Holmes Director 8964 8880 | 0400 323 828 robert@holmesstclair.com Dire tor Market Update There is little doubt we are in one of the strongest real estate markets in decades. Record sales are no longer a surprise but more so an expectation, where the biggest question we are being asked is 'how long will this last?' The good news for vendors in the market are that signs for strong selling conditions are still there. Tight stock levels continue to be one of the biggest upward driving factors, where choice is limited and buyer demand levels are continuing to outstrip supply. Combining this with record low interest rates on offer, seeing the banks relax lending criteria to supply even more credit to home buyers is a mix that puts this question of 'how long will the growth last' well into the foreseeable future. As an agency on the Lower North Shore of Sydney, and specialising in the auction process of home sales, we have experienced first hand this incredible increase in property values and the excitement from buyers to secure property either on auction day or being negotiated prior to the auction. Our agency clearance rate for the year to date is sitting at an impressive 100% clearance and given the increased volume in sales we are handling, we are pleased to be able to boast this perfect record to our future clients as an area and industry leading record. Some of our most notable sales thus far in 2021 have included the sale of a 3 bedroom garden courtyard apartment in Waverton, smashing the estate record for a non-waterfront property at a level of $3,150,000 (1A/22 King St, Waverton). As well as a hotly contested auction day sale for a 3 bedroom Crows Nest terrace eclipsing the reserve price by more than $250,000 (93 Ernest St, Crows Nest). Another huge result for our agency was a sale negotiated well prior to auction with one of our database buyers entering into negotiations early in the auction campaign for a Wollstonecraft 3 bedroom apartment and in the process setting another building record result (4/30 Morton St, Wollstonecraft). We hope you enjoy out latest market update and look forward to helping you along your journey through one of Sydney's strongest property markets in decades! 2 Market Update 2021