Demand for Sydney property rises in the middle of winter

Roisin Kelly-Goldsmith

25 Jul 2017

Sydney property content

Despite growth in the Sydney property market lagging behind Melbourne’s in the June quarter, rising auction clearance rates have shown that demand for housing in the harbourside city remains high.

For four consecutive weeks the percentage of successful Sydney auctions has continued to climb, with figures from last weekend reaching a high point of 73.1% and accounting for $269.2 million worth in sales, Domain reported.

According to CoreLogic’s Quarterly Auction Market Review, Mosman held the most number of auctions in Sydney in the June quarter, while Double Bay was the top performer when it came to auction clearance rates at a perfect score of 100%.

“Auction popularity shows no signs of waning,” said CoreLogic research analyst, Cameron Kusher.

Anticipating these results, Mozo’s Property Expert Steve Jovcevski advised first home buyers months ago to snap up Sydney property as soon as the July 1 stamp duty concessions and exemptions kicked in while investors were spooked in the wake of APRA’s clamp down on investor lending.

“As you can see the tide has turned now, with demand ramping up in the Sydney property market largely due to two types of buyers - first homeowners and property investors with a restored sense of confidence,” he explained.

“Something else to remember, is that at this time of year property investors are doing their tax returns which means they can benefit financially from the perks of negative gearing too.”

For those looking to take their first step on the property ladder, Jovcevski reminds house hunters that the spring selling season will soon hit the calendar.

“I urge first home buyers to take heart that house prices in Sydney aren’t skyrocketing like they were in 2016. Winter is always a time of limited listings and with spring just around the corner there will be more properties to choose from,” he said.

In more good news for borrowers, mortgage rates for those paying off both the principal and interest are at competitively low levels, with many providers offering loans well below the 4% mark. Whether you’re in the market for a fixed or variable rate home loan, shop around for the best mortgage for you at Mozo’s comparison hub.

Compare home loan rates:

Rates updated daily. Advertiser disclosure.

  • loans.com.au

    2.08% p.a. variable

    2.36% p.a.

    $1234

    Product details Close details
    Green Home Loan

    Owner Occupier

    2.08% p.a. variable

    2.36% p.a.

    Great low rate on investment loans when you package with your owner-occupied loan.

    Green Home Loan

    Great low rate on investment loans when you package with your owner-occupied loan.

    • 2.08% p.a. variable

    • 2.36% p.a.

    • $520

    • $0.00

    • $0.00

    • yes - free

    • yes - free

    • yes - 0.10% loading

    • $520

    • 90.00%

    • $50,000

    • $2,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Green Home Loan

    Details Close

  • 86 400

    2.19% p.a.
    fixed 3 years

    2.89% p.a.

    $1234

    Product details Close details
    Own Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR <85%

    2.19% p.a.
    fixed 3 years

    2.89% p.a.

    Own Home Loan

    • 2.19% p.a.
      fixed 3 years

    • 2.89% p.a.

    • $250

    • $250.00 yearly

    • $0.00

    • yes - free up to $20,000 per fixed rate term

    • yes - free

    • yes

    • $250

    • 85.00%

    • -

    • -

    • Fixed

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $2,000 cashback for eligible home loans of at least $250,000 with applications received by 30 September 2021 and settled before 31 November 2021.

    Read our Mozo Review to learn more about the Own Home Loan

    Details Close

  • Well Home Loans
    Mozo Expert Choice Badge" style="width:60px;">

    2.52% p.a. variable

    2.55% p.a.

    $1234

    Product details Close details
    Well Balanced

    Owner Occupier, Principal & Interest, LVR <90%

    2.52% p.a. variable

    2.55% p.a.

    A great value low rate home loan for variable owner occupiers. Free extra repayments and free redraw facility. No ongoing fees. Option for a split account available. Up to 90% LVR. Winner of the Offset Home Loan Expert's Choice Award for 2021.

    Well Balanced

    A great value low rate home loan for variable owner occupiers. Free extra repayments and free redraw facility. No ongoing fees. Option for a split account available. Up to 90% LVR. Winner of the Offset Home Loan Expert's Choice Award for 2021.

    • 2.52% p.a. variable

    • 2.55% p.a.

    • $785

    • $0.00

    • $300.00

    • yes - free

    • yes - free

    • Optional - $10 per month

    • $785

    • 90.00%

    • $200,000

    • $2,000,000

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    Read our Mozo Review to learn more about the Well Balanced

    Details Close

  • Suncorp

    2.59% p.a. variable

    2.60% p.a.

    $1234

    Product details Close details
    Back to Basics Special

    LVR<90%, Owner Occupier, Principal & Interest

    2.59% p.a. variable

    2.60% p.a.

    No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply. Minimum 10% deposit.

    Back to Basics Special

    No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply. Minimum 10% deposit.

    • 2.59% p.a. variable

    • 2.60% p.a.

    • $0

    • $0.00

    • $350.00

    • yes - free

    • yes - free

    • no

    • $0

    • 90.00%

    • $150,000

    • -

    • Variable

    • Principal & Interest

    • Owner Occupier

    • Weekly, Fortnightly, Monthly

    • $3,000 solar home bonus cashback, for houses with solar generation, loan amount $500k+, <90% LVR and approved before 31 December 2021.

    Read our Mozo Review to learn more about the Back to Basics Special

    Details Close

^See information about the Mozo Experts Choice Home loans Awards