Springtime market conditions create perfect storm for buyers and sellers in western Sydney


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Sellers Steve and Courtney Alexander

Spring has brought confidence in the real estate market for both buyers and sellers in the western Sydney region thanks to a combination of realistic market forces, interest rates and more serviceable home loans.

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Steve and Courtney Alexander bought a terrace off-the-plan in Penrith three years ago and are listing now in order to meet spring demand and walk away with a tidy profit they can bank.

Mr Alexander said the local market is now attracting a lot of interest. He and his partner have been waiting for spring because the time is right to list.

Steve and Courtney Alexander

“Now is just the right time to sell … the Reserve Bank is holding interest rates, the economy is coming back into trend and mortgage providers are loosening up lending criteria so everything is coming together for buyers and sellers,” he said.

“We had an open house on the weekend; the house was listed on the Friday and we had nine couples through and three contracts issued — and that is with an open house that lasted 30 minutes.

“If we get offered the right dollar amount we won’t need to have our townhouse spend more than a couple of weeks on the market … we will hold off to get the profit margin we want and I think the longest we will have to wait to sell will be between four and eight weeks.”

Luke Wilson from Wiseberry Real Estate Five Dock said the warmer weather and market confidence has brought healthy competition back into the marketplace.

“There are a lot of positive factors to the greater Sydney real estate market now,” he said. “The end of the financial year has seen investors come out of the woodwork, small business owners are settled.”

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