The First Quarter of 2021.

STARTING 2021 WITH RECORD NUMBERS

Here we are at the end of 2021’s first quarter. What we have observed over this three-month period is irrefutable evidence of a robust and resilient Sydney property market, capable of remarkable growth.

Peak performance barely justifies the record results that continue to occur. Our properties have surpassed $350k over their reserve at auction, and one Cabarita property set a new suburb record in the suburb at $8.275 million, a valuable reminder of the Inner West’s potential and prestige.

We’re currently ticking at 45 sales this early into 2021, representing 30% growth compared to our results this time last year, and a $89m worth of sales.

With the continued shortage of supply, significant competition and urgency fuelled by consumer confidence in the market’s rebound, and the guarantee of long-term low finance, it is no surprise that prices are consecutively increasing into record highs.

#2 in NSW - EXCELLENCE WE ARE PROUD OF

We were thrilled for Dib to receive accolades as the Number 2 agent in NSW in this year’s Annual REA Excellence Awards.

A purely independent system determined by sales volume, property values, consumer ratings and reviews, the Awards recognises the highest performing residential sales agents in each state.

This achievement is a testament not only to the dedication, support, and expertise of our entire team at DIB CHIDIAC, but also the satisfaction of each and every client who entrusts us to make their property dreams a reality.

Thank you.

AUCTION MOMENTUM

2021 has brought with it clear vision on the market’s position and its likely movements for the near future, as the global veil of uncertainty lifted.

January reports of a 4.1% rise in national medians marked the sharpest jump in four years, and signalled just the beginning of true bounceback success. Home values continued to increase in February with a 2.1% national rise, and Sydney remained one of the highest performing markets with a 2.5% lift.

Weekend auction clearance rates are at unprecedented levels, and we’re in the thick of it. Across Sydney, auction clearance rates peaked at 90% over March, with the Inner West reporting rates above 90%.

Compared to the 56% rate this time last year, the market’s spectacular turnaround is irrefutable as buyer competition translates into unsurprisingly impressive results, with many properties now selling well above their price guides and reserve prices.

Have you been following some of our standout auctions this quarter?

PREMIUM WATERFRONT PERFORMANCE

33 Dorking Road, Cabarita

Price Guide $5.5M

SOLD for  $8.275M

This month, 33 Dorking Road made history with one of the highest auction sales ever to occur in the City of Canada Bay. Despite wet weather, crowds gathered and bidding remained relentless as our marketplace standards reached new heights.

3/28 Drummoyne Avenue, Drummoyne

Price Guide $1.75M

SOLD for $1.75M

As the only property passed in at auction so far this year, this pure waterfront apartment ultimately achieved $100k more than its final auction bid two weeks earlier, in the end making for an excellent outcome through a private treaty sale for our vendor.

STAY TUNED

CHISWICK

We’ll be bringing this prime waterfront family home to the market in the coming weeks, and are confident it is bound to make even more waves to the auction tides we’ve seen.

OUR GROWING FAMILY

We’ve welcomed two new staff members into our work family this year. 

Samantha Dimech, Property Manager

Samantha brings six years of exceptional customer service and knowledge to our office. We chose her for her infectious optimism and impressive track record of demonstrated results. She chose us for our fresh perspective and brand innovation.

Lawrence Bingham, Leasing Consultant

Lawrence is ready to begin his career journey into real estate in our leasing team. He chose us for our expertise and ability to grow his skills. We chose him for his knowledge of the Inner West and natural authenticity, coupled with an attitude we know is ready for success.

A SAFE AND HAPPY EASTER BREAK

The Easter season is already upon us, and with the easing of restrictions this year, we certainly hope families, friends, and the wider community take this Easter break as an opportunity to be together and reconnect socially.

From all of the team at DIB CHIDIAC, we wish you a safe, joyful, and memorable long weekend.