NEWS ARCHIVE
Sales Market Review
This month we report on the first half of 2010 which has seen the local property market continue to ride the crest of strong economic confidence. Robust gains and impressive high-end sales are dotted throughout the past six months. While we noted a slight hiccup in May as interest rates marched forward, the market reignited in June as rates steadied and the supply of new listings significantly declined. In contrast to 2009 which saw the early to mid pricing tiers provide the platform for growth...
Sales Market Review
During May we detected signs that the market was becoming more cautious following a spate of interest rate increases and twelve months of surging prices. We have continued to record some excellent sales during the month, but many of the more aggressive buyers who have been circling the market for the past twelve months are securing the majority of current stock and the new breed of buyer entering the market appears to be more cautious and concerned about present values and the likelihood o...
Sales Market Review
The April property market was very busy with buyer numbers throughout the Inner West peaking yet again. We are seeing a strong transition of buyers traversing the markets of the North Shore and Eastern Suburbs as they search for reasonable value, which our local market apparently still comparatively provides. Running off the back of frenzied activity from first-home buyers last year, it is now upgraders who are pushing demand and very strong sale results. Looking back at the Federa...
Sales Market Review
An early Easter ignited the market in March as sellers looked to beat the forthcoming holiday period. We were waiting to see what impact an increase of property would have on the strength of the market and to be fair the results were mixed. We are continuing to see excellent strength for properties priced around $1m and for genuine family homes at any price point. Where the market becomes more uncertain is with those homes that may not appeal to the broader market be it through a slightly unusu...
Sales Market Review
The property market throughout February continued to build momentum as more property became available after the holiday break and we continued to record strong buyer demand. What we are experiencing at the coal face of the property market is supported by figures suggesting consumer confidence is elevated and the labour market has experienced the fastest growth in five years. While the Reserve Bank caught all the market forecasters off guard when they decided to leave interest rates on hold duri...
Sales Market Review
Similar to the beginning of 2009 we have kicked off the new 2010 property market with a flurry of activity. Our open home schedule commenced on Saturday 16th of January and we were immediately hit with a strong wave of buyers, with two of our new listings noting in excess of 100 parties in attendance. While seeing that volume of buyers is impressive for the start of the year, it doesn’t come as a major surprise as the final quarter of the 2009 market finished strongly and we sensed that ...
Sales Market Review
Well folks, it has been a pleasure reporting on the property market during this interesting year. Our local area has performed exceptionally well during 2009. In fact, it has been one of the strongest performing property markets in Sydney. We started the year with record low interest rates and generous first homeowner grants providing the launching pad, and launch the property market did. Early year properties experienced solid buyer enthusiasm, rapidly moving the market out from the 2008 decli...
Sales Market Review
The October property market recorded some excellent sales, reinforcing the significant improvement that it experienced throughout the winter months. At the time of writing, the share market hit a 13 month high and the Reserve Bank indicated that a new stage of expansion had begun and that it expects the Australian economy to grow through 2010. A report by QBE Lenders Mortgage Insurance was also released predicting that Sydney house prices will increase by 20% in the next three years. Where did...
Sales Market Review
September kept the wheels of positive motion turning with both the volume of transactions and the average sale price increasing. The property market over the past 12 months has surged forward in what economists refer to as a V-shaped recovery, however, we can’t recall any market forecaster predicting the type of rebound we have witnessed. Interestingly, in our newsletter this time last year we were reporting interest rates had just been cut for the first time in seven years. Just 16 sales ...
Rental Market Review
Consistently low numbers of available property over the last month have tightened the rental market to a point that our vacancy rate has fallen to the levels experienced late last year, the top of the market. Typically our office would be promoting 20 – 25 properties open for inspection on any given Saturday, across all types of accommodation. On the 12th September just 10 properties were available for viewing. Our vacancy rate is just .4%! Expect REINSW vacancy rate survey figures in...