A new survey revealed the areas with the happiest sellers.
The inner west is the Sydney region where sellers are most frequently getting prices over expectation, a vendor survey reveals.
The higher rate of above-expectation sales made inner west vendors Sydney’s happiest sellers, according to the Rate My Agent poll of more than 33,000 Aussie vendors.
About 41 per cent of inner west sellers reported they got a price above what they wanted for their properties.
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This put the inner west among the 10 “happiest” seller’s markets, alongside Canberra, Hobart, the central highlands area of Victoria and northern Melbourne.
Belle Property agent Simone Azzi said the enduring popularity of the inner west meant there was a safety net for prices and buyers remained active.
Belle Property agent Simone Azzi said the inner west drew a mixed crowd of buyers. Picture: John Appleyard
“Larger family homes, properties with quality renovations, they are still getting exceptional prices,” Ms Azzi said. “The properties that are not selling well are on busy roads or there is an obstruction.”
The biggest spending buyers were upsizers, she said. “Many of them have figured it is a good time buy and they’re capitalising,” she said.
“The inner west is also a lot cheaper than the eastern suburbs and lower north shore so we are attracting some buyers from those areas who are search of a bit more value.”
Rate My Agent CEO Mark Armstrong said there was a June uplift in market confidence.
“After the initial shock in April wore off, consumer optimism is on the way back up,” he said.
The inner west was a sharp contrast to NSW’s central west region, including towns such as Dubbo and Orange, which was one of the weakest markets for sellers. About 27 per cent of vendors in the region reported they got prices above what they expected.
Vendors in northern NSW also struggled, with only 15 per cent netting prices above their hopes.
About two in five home sellers in the inner west got more than they expected.
Nationally, the other areas where home sellers were least likely to get prices above their expectations were scattered across regional Western Australia and Queensland. The most frustrated capital city sellers were in Perth.
Ray White Quakers Hill agent Josh Tesolin said the report’s NSW findings were a call to action.
“At the moment, so many people are holding off on selling due to uncertainty,” he said.
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