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What happened to the markets in August 2012?

By Jessica Ridder

Market Review – Blackheath August 2012

 Spring season is a time when the most activity happens in the property market. Traditionally sales volumes measure up to 15% higher than the levels of the preceding Autumn/Winter months. Spring fever is already showing, with most property data providers reporting good Auction clearance rates and improved home values across the board.

 RP Data-Rismark’s July results found Sydney dwelling prices were up 1.2% over the month, while Bureau of Statistics figures showed established house prices in Sydney grew 1.4% in the June quarter. ‘The 75 basis points in RBA cuts in May & June should also help buoy prices in the Sept quarter’, said David Carrington (ANZ Property Economist).

 On a local level, spring has come early for Ray White Blackheath with 16 home sales for the month of July alone, our highest volume of stock traded in one month since April 2010. With a 100% auction clearance rate at our last Auction on August 5th 2012 we are busy preparing for our next Auction to be held on the 30th Sept 2012 at Blackheath Golf Club, all are welcome to attend.

 Market Snapshot for Blackheath for the 2011-12 Financial Year (1/7/11-30/6/12). Interesting stats;

  • 118 Homes were sold in Blackheath 
  • Median house price – $352,500

 If you would like a more detailed report on the local property market call the office on 02 4787 8797 and request a free Suburb Snapshot.

Alan Gregory
Principal Ray White Blackheath

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