16/08/2026
REDFERN & SURRY HILLS TERRACE MARKET UPDATE
Auction clearance rate: 16%. One out of six auctions sold. But that’s not the full picture.
Over the last seven days, six auctions were scheduled across Redfern and Surry Hills, with only one selling — a 16% clearance rate.
For context, Cooley Auction Services — Sydney’s dominant independent auction house — recorded a 35% clearance rate across Sydney.
STOCK IS BUILDING
Redfern & Surry Hills now has 40 houses for sale. Around four weeks ago, there were just 28.
Across the broader terrace market from Paddington to Waterloo, stock has increased from approximately 55 houses to 74.
The result? Buyers have more choice — and they know it.
BUYER BEHAVIOUR
The message I’m hearing constantly:
“Charles, I don’t need to buy.”
“Charles, I’m not in a rush.”
And I understand why. Right now, the market isn’t creating urgency.
But my question to buyers is: what are you waiting for?
Another 5% fall? The exact bottom?
The problem with trying to pick the bottom is that when the market does bottom out, you rarely get the best selection of quality homes. And nine times out of ten, buyers miss the turn. By the time confidence returns, prices are moving again, competition is back, and you’re stuck in the same traffic jam.
Don’t try to pick the bottom. Pick the best house.
If you can secure a quality asset at a discount from the peak, that can matter far more over the long term than trying to perfectly time the market.
OPEN HOMES
Buyer numbers were mixed over the weekend, ranging from approximately 7 to 28 groups through properties.
Interest rates remain on hold, stock is rising, and buyers remain patient.
If you’d like to know what this means for your property, DM me.
Charles Touma
