05 May 2025
Market Matters | April 2025
April provided a useful lens into the momentum of our local property market – with buyer confidence continuing to grow, premium homes regaining centre stage, and solid activity across the Northern Beaches despite the usual autumn distractions.
At Cunninghams, we recorded 42 sales for the month – a reassuring result given the impact of school holidays, Easter, Anzac Day and the Federal Election campaign. While these events softened momentum slightly, we saw consistent engagement from motivated buyers and sellers, and plenty of conversations with homeowners and buyers planning their next move in 2025.
Buyer confidence holds strong
The broader picture shows a market building strength. Enquiry volumes across Sydney are up 13% year-on-year – the highest March figures Domain has reported since 2022. This uptick continues a growth trend that began in September and reflects a clear shift in sentiment.
What’s fuelling the confidence? Improved purchasing conditions, a broader choice of listings, slightly longer days on market, and a supportive interest rate environment are all contributing. And while the RBA’s next rate decision on 20 May may prompt some buyers to pause, many have already factored in current rates, viewing any drop as a bonus.
We’re also seeing strong buyer return in key price segments. Search activity has surged in the $2.5 million+ range, with solid growth in the $1.5m–$2.5m bracket. Locally, that’s translating to increased competition for well-presented homes with lifestyle features such as views, pools, or proximity to the beach.
Local insights from the Beaches
While April was punctuated by school holidays and public holidays, the Northern Beaches market continued to demonstrate resilience. Cunninghams recorded 42 sales, met 1,766 buyers, and completed 171 appraisals – highlighting strong buyer enquiry and growing preparation among homeowners planning their next steps. According to REA data, Cunninghams holds around 17% market share of sold listings, reaffirming our leading position across the region.
The rental market remained just as competitive, with our property management team leasing 37 properties, achieving an average of just 6 days on market and an average weekly rent of $1,046. This rapid turnaround underscores the strength of demand and the fast pace of the local rental scene.
Overall, these results reflect a confident, active market as we head into the cooler months.
Auction wrap
With ANZAC Day and back-to-back long weekends, auction volume took a dip – but competition was strong at the auctions that proceeded. CoreLogic reported 398 scheduled auctions across Sydney in the final week of April (up 40 on the week prior), with a preliminary clearance rate of 66% (down slightly from 68%).
Our auction partners Menck White oversaw 20 auctions, achieving a clearance rate of 60% and an impressive 6.6 average registrations per auction. This lift in bidder numbers – despite lower volume – highlights the motivation of buyers when the right property becomes available.
Looking ahead, early May is expected to remain quieter for auctions, but momentum should build from 10 May, with another spike expected around 31 May as winter campaigns get underway.
National outlook: solid foundations for growth
Nationally, the housing market continues to strengthen, buoyed by strong economic fundamentals, low unemployment, and steady wage growth. According to CoreLogic’s April 2025 Housing Chart Pack:
- National home values rose 0.7% over the quarter
- Properties are taking longer to sell, with median days on market increasing to 40 days (from 30 a year ago)
- Rents have grown 3.8% annually, the slowest growth in four years
- Housing turnover remains high, with 528,212 sales in the past year, up 4.6% year-on-year
Lower interest rates, tight vacancy rates, and ongoing supply shortages continue to fuel first-home buyer and investor interest – particularly in lifestyle-focused areas like the Northern Beaches.
What’s next?
May is shaping up as a month of recalibration. With the election behind us and the next rate decision looming, we expect a stronger lead into winter. Buyer demand remains clear across the Beaches, and sellers who bring well-styled, well-priced homes to market are likely to find eager audiences.
If you’re thinking about making a move in 2025 – whether selling, upsizing, downsizing or investing – now is a great time to reach out. Our team is always ready to guide you, provide a no-obligation appraisal, or simply chat about your next steps in today’s market.
