Sydney property market

The Sydney Property Market – March 2025

The Sydney property market saw steady growth through most of 2024, outperforming initial forecasts. However, as the year progressed, momentum began to slow.  Clearance rates weakened, and monthly growth figures shifted into negative territory, indicating a softening market.  By late 2024, buyers had greater opportunities to secure properties at more favourable prices—something not seen in quite some time.

In contrast, 2025 started with strong activity, driven by a surge of early listings in January and February. While listing volumes have since moderated, auction clearance rates have remained relatively high, generally sitting in the high 60% to low 70% range.

That said, market conditions are far from uniform.

Performance across Sydney varies significantly based on location and property quality. Well-presented homes in sought-after suburbs continue to attract strong competition, often selling above price guides—though this can, in part, be attributed to the ongoing practice of agent underquoting. Meanwhile, properties with less desirable features, such as busy road frontages, awkward floorplans, or compromised locations, are facing a more cautious buyer pool and weaker competition.

While most open homes continue to draw good attendance, buyers are becoming more discerning. This is increasingly reflected on auction day, where we are ofter seeing fewer serious bidders actively competing.

Despite this, Sydney’s property market remains underpinned by strong fundamentals. Demand continues to outstrip supply, and with high levels of immigration adding further pressure, we do not anticipate any significant price softening in the short to medium term.