Can Sydney's auction heat continue? Ewan Morton

The gardens are full of blossom, the air is warm, the auction clearance rate is sitting above 80%. 

It feels like Spring.  Can it really only be August?

More importantly, can it last?

Yes I think it can.

Looking back, for much of last year the only people active in the market were those who really had little choice. 

Families who needed more room, downsizers who needed less room, investors who wanted less debt. 

It was a market dominated by need rather than greed.

In contrast the mood is now strangely positive out there. 

Certainly lower interest rates undeniably help but in addition to that, despite the ongoing coverage of the gloomy economy, people are actively electing to look at property again.

In particular investors have returned which is a very positive sign for a sustained pick up in the market.

So whilst we traditionally don’t see this much action during the winter months I don’t believe activity now will be at the expense of a further increase in the ‘official’ spring selling season.

And to be honest I don’t see the federal election having any impact on the mood of vendors and buyers except perhaps for a preference not to schedule an auction on Saturday 7th September.

Ewan Morton is managing director of the Sydney based Morton & Morton

Ewan Morton

Ewan Morton

Ewan Morton is managing director of the Sydney based Morton & Morton.

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