Sub $2 million Sydney property going strong: Herron Todd White

The Sydney property market astonished even the most 'optimistic' during the first quarter of 2015, according to to new report released by Herron Todd White.

The Herron Todd White June review found strong activity throughout all levels of the Sydney market, with particular note to the sub $2 million price bracket.

The report found record numbers of properties capitalising on the current demand and supply ratio by going to auction instead of private treaty and noted record high clearance rates in the first quarter, on average 80% in May up from 50% in January.

The market is expected to continue, or even strengthen, given the possibility interest rates will remain the same until 2017. Should further cuts be implemented the prestige market, combined with a weaker Australian dollar, may go even stronger than it is at the moment.

The prestige property market, while not considered to influence the general market, has gone gangbusters during the last six to eight months, with the report noting the recent sale of Villa del Mare as one recent example.