"A few of us have been surprised by the numbers" at open homes, says Di Jones' head auctioneer, Josh Larsen.
Open home numbers have been stronger than expected at the start of 2018, Di Jones head auctioneer, Josh Larsen, told SCHWARTZWILLIAMS.
"The numbers have been good at open homes on Sydney's upper north shore and in the eastern suburbs, particularly in the $3 million-plus range", he said.
"It's encouraging and surprising," he said. "A few of us have been surprised by the numbers."
“We saw over 80 groups of people go through a two-bedroom apartment on Pine Street, Randwick, that exchanged prior to auction for $1,030,000, some $30,000 more than a similar property that sold last year," he said.
“Stock levels are better than last year," said Larsen.
With stock flowing onto the market, buyers are coming back in, in particular first-home buyers, he said.
Vendors more likely to sell before buying in the current market
Larsen said that sellers are more confident to sell before buying in the current market. "No one's been doing that," he said, noting that sellers have been too concerned about missing out on getting back into the market in recent years.
Larsen said it will be "hard to gauge" how prices are faring until more properties actually begin to sell over the coming weeks.
Di Jones has already recorded a 20 per cent increase in the number of auctions booked for February. Larsen said he has a big day of auctions booked in for 10 February.
"To get a bit more stock onto the market would be a good thing", he said.
"Give everyone a chance."
Read more about property in 2018:
Sydney property market leads capitals lower
House prices Australia wide are rising, but don't expect a strong recovery: Macquarie