subscribe to our newsletter

FOMO set to strengthen Sydney market

Sydney’s property market could stay strong until Christmas, as buyers experience the fear of missing out, according to Raine & Horne’s executive chairman.

Data collected across the Raine & Horne group suggests that Sydney’s property market – which has seen four months of growth – could continue to perform strongly until Christmas, according to the group’s executive chairman, Angus Raine.

“It will only take a few positive sales, and then the fear of missing out will tempt more mum and dad buyers into Sydney’s property markets,” Mr Raine said.

“Fear of missing out (FOMO) activity will drive strong activity in Sydney up to 21 December, which is the last Saturday before Christmas,” Mr Raine said.

Mr Raine added that the ongoing strengthening of buyer demand within the Sydney market will push the market back in the favour of sellers.


“There are more buyers at open homes, yet our listings in NSW in September were 13 per cent lower than the same month last year. We’re now moving towards a seller’s market,” he said.

Raine & Horne recorded very similar trends to those already experienced across Australian markets, including increasing buyer demand, strong auction clearance rates, and investors returning to the market in light of interest rate cuts, and particularly, a strengthening market in Sydney.

Raine & Horne Newtown director Duncan Gordan stated that Sydney’s Inner West continues to have buyers’ attention, with enquires and auction clearance rates up from last year.

“There is certainly a buzz out in the marketplace, with many buyers keen to secure a home before the end of the spring selling season,” Mr Gordan said.

“During the first half of 2019, investors were few and far between. However, in the last quarter, we have seen them return in droves, and they are giving owner-occupiers some stiff competition,” Mr Gordan said.


“As a consequence of [a] combination of factors, investors feel the time is right to buy to capitalise on future capital growth.”

He stated that competition between investors, owner-occupiers and first home buyers, coupled with a dwindling supply of properties on the market, has contributed to increasing prices across the city.

“The increase in volume that many buyers were hoping for has not come to fruition yet, and this is continuing to put upward pressure on prices,” he said.

“For those contemplating a sale, you still have plenty of time before Christmas, and the current buoyant market conditions are there to be taken advantage of by vendors.”

A similar sentiment was shared by Raine & Horne Maroubra principal Paul Spanoudakis, who stated that buyer enquiries for his office are up 50 per cent compared to spring 2018.

“Yet the number of properties available for sale is 30 per cent lower.

“The demand for property is also demonstrated by our auction clearance rates of 80 per cent in September with 5-10 bidders regularly registered for every auction,” he said. 

[Related: Auction clearance rates hold steady]

FOMO set to strengthen Sydney market
Raine & Horne

If you have ever considered how you could better service your SME clients but lack the knowledge or confidence to do this beyond referring them on, this is a must-attend event for you. Don't miss SME Broker Bootcamp, a jam-packed, free-to-attend, practical workshop. Register today and secure your place at this interactive, flexible, must-attend event.

Hannah Dowling

Hannah Dowling is a journalist for mortgage business, the leading source of news, opinion and strategy for professionals working in the mortgage industry.

Prior to joining the team at Mortgage Business, Hannah worked as a content producer for a podcast catering to property investors. She also spent 6 years working in the real estate sector at a local agency. 

Hannah graduated from Macquarie University with a Bachelor of Media and Journalism. 

You can email Hannah at: This email address is being protected from spambots. You need JavaScript enabled to view it.

Latest News

The government has called for the Council of Financial Regulators to bring forward a review of lending practices after “conservative” le...

Perth could face a housing affordability crisis, a new report has warned, as worker shortages have left over a third of the city’s apartme...

The non-bank lender has announced the appointment of two new managing directors. ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

Do you think APRA's bank buffer changes will see more borrowers use non-banks?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.