News

February 09, 2017

2291 Market Report

Welcome to our first report of 2017. We take this opportunity to look back at what has certainly been a successful 12 months in our real estate market.

The market is well and truly in full swing with vendors and buyers taking full advantage of the warmer months, with both parties looking to either sell or secure their new home in the early stages of the new year. While stock is slightly lower than this time last year, it is anticipated that we will start to see an upward trend in 2017 as the market regains its buoyancy with predictions indicating that it will remain a sellers market well into the New Year before plateauing into 2018. Auction clearance rates are strong with many properties selling for well above the reserve, making it a great time to sell if you’ve been considering it throughout 2016.

Newcastle Beach

Newcastle Beach. Photography by Alberto Gobbato.

We are pleased to announce that our agency sold 52 properties from October to December, and our highest sale was for a property in Merewether which was sold for $3,150,000. This result was well above the reserve, making it an outstanding result and one that our vendor was delighted with.

Overall 2016 has been a positive year for homeowners and investors however we must remember that the high growth rates we’ve experienced over the last couple of years are likely to plateau coming into the later half of 2017 and 2018 making it an ideal time for buyers to enter the fray. If you are considering selling, now is the time before the market starts to level out so you can ensure you receive the most bang for your buck! 

For full report, please find this here

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