NEWS ARCHIVE
Sales Market Review
Last month saw a slight decrease in activity in the local property market with 31 properties transacted (across all agencies) compared to the previous month’s 38 properties. The table below shows that of these 31 local sales, seven properties were reported to Australian Property Monitors as being sold at auction while 10 properties either failed at auction or were withdrawn prior to auction. However, as reported last month, it seems that some agents continue to sugar coat auction...
Sales Market Review
The last month period saw a slight increase in activity in the local property market with 38 properties having transacted, compared to the previous month’s 30 properties sold. The table below shows that of the 38 local sales last month, 9 properties were reported to Australian Property Monitors as being ‘Auction Sold’, whilst 8 auction properties either failed or were withdrawn from auction. Of those 9 properties reported as having sold u...
Rental Market Review
The slight easing of the tight rental market that our office experienced towards the end of April was reflected in figures released last week by the REINSW. These figures showed that the vacancy rate for Inner Sydney rose from 0.9% in March to 1.2% in April. Vacancy rates for other areas of Sydney remained at or below 1% for this period. This is only a slight easing of the particularly low vacancy rates we have experienced this year and we are certainly not expecting that this is the ...
Monthly Property Report
The last month period saw decreased activity in the local property market with only 30 properties transacted compared to the previous month period when 61 properties sold. Of the 30 local sales for the monthly period, only 4 properties were sold under the hammer at auction, while 11 auction properties either failed or were withdrawn from sale. It may surprise some that so far this year private treaty house sales have returned a higher average sale price than auctions and they have also accoun...
March in Review
Throughout March the volume of property entering the market for sale substantially increased. With interest rates moving upwards again, March was set to truly test the strength of the local property market and buyers’ sensitivity to the current economic conditions. March sales results certainly indicated that confidence from buyers remained positive in the Inner West market. We noticed that buyers are more cautious selecting and negotiating a property purchase, yet should the right prop...
Rental Market Review
The latest results from the REINSW vacancy survey released on the 11th March 2008, has shown a continued contraction of the already low vacancy rate. With a figure of 1.3% in January 2008, vacancy has dropped to .9% in February 2008. Most concerning is that this vacancy rate of .9% is now consistent right across the four Sydney survey areas. Prospective tenants, frustrated at being unable to secure accommodation in the Inner west, had previously been able to look further afield to secure accomm...
February in Review
February kick started the New Year property market with a gradual supply of properties being listed throughout the month. There certainly hasn’t been an explosion of new properties enter the market which has resulted in strong buyer competition being experienced for most homes. We always find open home inspections to be a great indicator of buyer sentiment and so far in 2008 we have noted excellent demand throughout most price ranges, with many buyers committed to finding a property in th...
Rental Market Report
From the outset, the rental market for early 2008 has demonstrated continuing high demand for available accommodation and some excellent results in respect to the rents achieved for these properties. Expectations are for the residential rental market to remain tight throughout 2008 and for rents to continue to rise. Vacancy rates remain very low throughout the entire Sydney region, with figures released by the REINSW on February 6 showing the January 2008 Sydney vacancy rate being...
January in Review
January is traditionally a quieter month for local property sales as buyers and sellers catch their breath and enjoy a summer break. Recently it’s been hard to avoid the news surrounding the volatile stock market, soaring inflation and rising interest rates, all of which are set to have a major bearing on the Australian economy and the property market in 2008. The trigger which set off this chain of events started with the collapse of the U.S. sub-prime market in late 2007. It wasn&rsq...
January in Review
Welcome back. The New Year has commenced with uncertainty as to the fortune of the economy in 2008. Inflation, interest rates and the declining U.S economy have certainly been topping the news over the holiday period. The collapse of the U.S sub prime market is filtering around the world and there appears to be no clear message of how big an impact this will have on the global economy. In January, the Australian share market sustained the longest decline of value in the last twelve years res...