Time right to sell in Sydney’s eastern suburbs

It comes as Sydney recorded a 2.4 per cent increase in asking house prices for December, with the market climbing back to 2017-18 highs of more than $1.3 million as the median.

At the current time, the median asking house price in Sydney is $1,341,400, according to data from SQM.

In the Eastern Suburbs, demand from overseas buyers and locals remained strong through the Christmas break, according to Mr Hogan – which makes “early 2020 a prime time for vendors considering a property sale”.

“We are still seeing average sales prices heading north, with demand for apartments and houses in the Eastern Suburbs very strong,” he added.

Raine & Horne has noted similar sentiment from AMP Capital chief economist and head of investment strategy Shane Oliver, who was cited as stating that capital city house prices are expected to see continued strong gains into early 2020.

This is off the back of pent-up demand, rate cuts and a fear of potential property buyers potentially missing out.