Commencing With Consistency.

With an entirely new year ahead, great speculation and prediction is at the forefront of much of what we’re seeing and hearing. 

Will the RBA increase interest rates at their first February meeting for 2023? When can we expect to see them stop rising? Will the property market turn? Has it already turned? Should I wait?

The questions many are asking are endless, but one truth is certain. Our performance in the Inner West has not changed. 

So while the data tells us that property values across Sydney dropped 13% in the last nine months as interest rates rose at the fastest pace on record - our agency has experienced nothing short of consistency in both the volume of sales occurring, and the prices we’re achieving.

Despite January being a short month for our office, we completed 4 transactions, ahead of January 2022 results. These efforts amounted to a total of $7.4M+ in sales.

No matter the market, there are suburbs that have demonstrated significant resilience and will continue to do so throughout 2023. 

And we’re in the heart of one of them. 

That’s because of the innate desirability, very strong price points, and the tightly held jewels houses that combine to make it a place that so many want to buy into, and call home. 

The same can be said for our rental market. The data shows that rental prices across 500 Sydney suburbs showed signs of easing in the December quarter, yet considering rents rapidly soared by a record 10.2% in 2022 - with most reaching double-digit rental growth - any reduction should be considered more a correction rather than a decline.

And in suburbs like Concord and the surrounding Inner West, the lifestyle appeal we speak of has indeed kept rental prices firm. 

We’re experiencing significant demand for local rentals, leasing most of our properties immediately after the first inspection, at rental prices that simply have not changed.

We’re looking to hire a Sales agent and Associate agent with talent, drive, and the standout factor that is set for success. Start your fresh beginnings with our agency this year - contact us today for a confidential discussion.

Get the full picture on our January property results, here.

Here’s the lowdown on the data you’ll most want to know about:

RBA’s February meeting
Annual headline inflation has jumped to 7.3%, and Black Friday pushed retail sales to an 11th consecutive record month in November 2022.

Economists predict that the strong inflation figure and these retail trade results will likely prompt the RBA to press ahead with interest rate rises at its first February meeting.

Downsizers to dominate in 2023

Digital Finance Analytics have estimated 800,000 downsizers, particularly those in Sydney, are considering leveraging huge capital gains made over recent years in order to boost their retirement income or lower debt this year.

Refinancing records
Newly released ABS data shows new home loan approvals dropped at the fastest pace since the global financial crisis, and mortgage refinancing hit a record in November 2022.

Propelled by rising interest rates and expiring fixed-rate loans, the 8.2% refinancing increase amounted to a record $19.5 billion as people shopped around for the best deal.