Demand still strong for Sydney inner-city property

As Sydney’s property market reels from yet another year-low auction clearance rate, sellers in the city and eastern suburbs clearly have less to worry about.

The higher-density region scored a healthy 75.3 per cent clearance rate at the end of October, topping the rest of the market on Sydney’s biggest spring auction day ever.

“The slide in clearance rates has accelerated following the announcement by the banks of higher mortgage rates firstly for investors and then more recently for owner-occupiers.” said Dr Andrew Wilson, Domain Group senior economist.

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