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September 2014

Winter’s limited stock frustrating for buyers

The August property market continued in the same pattern as July with very tight trading conditions being the standout feature. It’s a shame more sellers haven’t taken advantage of the positive buying environment this winter. Buyers remain enthusiastic albeit starved of opportunities, however low interest rates and generally favourable economic conditions seem to be building towards a very busy spring period. It was great to note during the month that Reserve Bank boss Glenn Stevens commented that businesses should position their strategies towards growth, which was a positive statement and an insight into the RBA’s thoughts on the future.
 
Breaking down our market, there are some interesting points worth discussing. Firstly, at the time of writing there are just 34 houses available in Balmain and Rozelle. That’s an area comprising just over 10,000 homes, which as a percentage of availability is very low. This is mirrored across our neighbouring suburbs with just 12 houses available in Drummoyne, 10 in Annandale and 20 in Leichhardt. You can remove at least 10% of what is on the market as they are either overpriced or simply not saleable in the eyes of buyers, highlighting very tight conditions. This is fru [...]

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Market Review

September 2014

Winter’s limited stock frustrating for buyers

The August property market continued in the same pattern as July with very tight trading conditions being the standout feature. It’s a shame more sellers haven’t taken advantage of the positive buying environment this winter. Buyers remain enthusiastic albeit starved of opportunities, however low interest rates and generally favourable economic conditions seem to be building towards a very busy spring period. It was great to note during the month that Reserve Bank boss Glenn Stevens commented that businesses should position their strategies towards growth, which was a positive statement and an insight into the RBA’s thoughts on the future.
 
Breaking down our market, there are some interesting points worth discussing. Firstly, at the time of writing there are just 34 houses available in Balmain and Rozelle. That’s an area comprising just over 10,000 homes, which as a percentage of availability is very low. This is mirrored across our neighbouring suburbs with just 12 houses available in Drummoyne, 10 in Annandal [...]

<see full article>