Market Review –
Sales figures in Sydney during December were impacted by the strong selling season in Spring resulting in fewer properties available in December. The rest of Australia reported a stronger activity level reflected in attendance at opens and the sheer number of offers that were being negotiated.
In the Blackheath area we also noticed a shortage of property in December resulting in fewer sales. January, however has seen a big turn-around with more property available – in fact we just started our open homes campaign for our March 2nd AUCTION EXTRAVANGAZA, where we will be taking 6 properties to Auction on the same day, representing our largest auction in over 12 months.
Also of significance in December was the strengthening investment market. It appears that the long predicted move of people coming back into investment property, as the difference between property yields and interest rates continues to widen, is starting to gather momentum.
If you would like a more detailed report on the local property market call the office on 02 4787 8797 or e-mail jessica.ridder@raywhite.com and request a free Suburb Snapshot.
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