2017 has definitely kicked off with continued growth in house prices in Sydney. There is no doubt that in the month of February there was still an immense amount of interest in buyers with our open homes continuing to bring in more than 30+ groups attending. The market is persistently growing though there are still more buyers than housing stock. One property that sold last month was 28 Ryrie Street, North Ryde. It set a record in North Ryde for being the highest sold property $1,850,000 at auction for a 626sqm block of land! With over 200 people attending the auction and 22 registered bidders, we could conclude that there were some people feeling disappointed missing out on this type of property.
Another two successful sales occurred with 40 Numa Road, North Ryde selling for $1,605,000 and 75 Princes Street, Ryde selling for $1,620,000, which both also sold under the hammer. This month we will be auctioning four properties along with others that are privately for sale, with more expecting to be listed. Overall, Sydney continues to be consistent in terms of dwelling price growth and the momentum of auctions is increasing.