Demand for Sydney property rises in the middle of winter
![](http://cdn.mozo.com.au/images/atwood/7324/sydney-property_content.png)
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.
Home loan comparisons on Mozo
Promoted
-
Basic Home Loan
- Owner Occupier
- LVR 90-95%
- Principal & Interest
- Interest rate
-
7.19
%
p.a.
Variable
- Comparison rate
-
7.22
%
p.a.
- Initial monthly repayment
-
$4,747
- Interest rate
-
7.19
%
p.a.
Variable
- Comparison rate
-
7.22
%
p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge fee
-
$400.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
no
- Maximum loan to value ratio
- 95.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special offers
- -
Read our Mozo Review to learn more about this Macquarie Basic Home Loan
-
OMG Home Loan
- Owner Occupier
- Principal & Interest
- >80% LVR
- Interest rate
-
6.29
%
p.a.
Variable
- Comparison rate
-
6.32
%
p.a.
- Initial monthly repayment
-
$4,328
BCU Bank’s OMG owner occupied home loan offers a variety of great low rates depending on your deposit. Save with no ongoing annual fees. Access your extra payments when you need to through the redraw facility. Pre-approval valid for 3 months.
- Interest rate
-
6.29
%
p.a.
Variable
- Comparison rate
-
6.32
%
p.a.
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge fee
-
$395.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
no
- Maximum loan to value ratio
- 95.00%
- Minimum borrowing amount
- $20,000
- Maximum borrowing amount
- $1,500,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special offers
- -
Read our Mozo Review to learn more about this BCU Bank OMG Home Loan
-
Basic Home Loan
- Fixed
- Owner Occupier
- Principal & Interest
- LVR 80-95%
- Interest rate
-
6.75
%
p.a.
Fixed 3 years
- Comparison rate
-
7.09
%
p.a.
- Initial monthly repayment
-
$4,540
Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
- Interest rate
-
6.75
%
p.a.
Fixed 3 years
- Comparison rate
-
7.09
%
p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge fee
-
$400.00
- Extra repayments
-
yes - up to $10,000 p.a.
- Redraw facility
-
yes - free
- Offset account
-
no
- Maximum loan to value ratio
- 95.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special offers
- -
Read our Mozo Review to learn more about this Macquarie Basic Home Loan
-
Offset Home Loan
- Fixed
- Owner Occupier
- Principal & Interest
- LVR 80-95%
- Interest rate
-
6.75
%
p.a.
Fixed 3 years
- Comparison rate
-
7.30
%
p.a.
- Initial monthly repayment
-
$4,540
- Interest rate
-
6.75
%
p.a.
Fixed 3 years
- Comparison rate
-
7.30
%
p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$248.00 yearly
- Discharge fee
-
$400.00
- Extra repayments
-
yes - up to $10,000 p.a.
- Redraw facility
-
yes - free
- Offset account
-
yes
- Maximum loan to value ratio
- 95.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special offers
- -
Read our Mozo Review to learn more about this Macquarie Offset Home Loan
-
Special Real Deal Home Loan
- Owner Occupier
- Principal & Interest
- LVR 80-95%
- Interest rate
-
6.84
%
p.a.
Variable
- Comparison rate
-
6.88
%
p.a.
- Initial monthly repayment
-
$4,582
Refinancers or first home buyers pay no monthly or annual fees. Up to $3,000 cashback when you complete your home loan application online. $2,000 cashback on loans ≥$250K; or $3,000 cashback on loans ≥$500K. LVR ≤80%. T&Cs and credit criteria apply.
- Interest rate
-
6.84
%
p.a.
Variable
- Comparison rate
-
6.88
%
p.a.
- Upfront fees
-
$595
- Ongoing fees
-
$0.00
- Discharge fee
-
$250.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - fees apply
- Offset account
-
no
- Maximum loan to value ratio
- 95.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- -
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special offers
- -
Read our Mozo Review to learn more about this Newcastle Permanent Special Real Deal Home Loan
-
Basic Home Loan
- Owner Occupier
- LVR 90-95%
- Principal & Interest
- Interest rate
-
7.19
%
p.a.
Variable
- Comparison rate
-
7.22
%
p.a.
- Initial monthly repayment
-
$4,747
- Interest rate
-
7.19
%
p.a.
Variable
- Comparison rate
-
7.22
%
p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge fee
-
$400.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
no
- Maximum loan to value ratio
- 95.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special offers
- -
Read our Mozo Review to learn more about this Macquarie Basic Home Loan
-
Offset Home Loan
- Owner Occupier
- LVR 90-95%
- Principal & Interest
- Interest rate
-
7.19
%
p.a.
Variable
- Comparison rate
-
7.43
%
p.a.
- Initial monthly repayment
-
$4,747
- Interest rate
-
7.19
%
p.a.
Variable
- Comparison rate
-
7.43
%
p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$248.00 yearly
- Discharge fee
-
$400.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
yes
- Maximum loan to value ratio
- 95.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special offers
- -
Read our Mozo Review to learn more about this Macquarie Offset Home Loan
Want to speak to someone about refinancing?
Our partner Lendi can help with that. All they need is a few details to get started.
Your selected home loans
* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
^See information about the Mozo Experts Choice Home Loan Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.