Download MARKET COMMENTRY: February 2012-03-08

“It’s all about you”
SEPTEMBER 2014
PROPERTY MARKET IN A RARE SWEET SPOT
The Sydney Housing market, driven by dramatic capital gains, has seen the medium
house price grow a remarkable $116,000 to $810,000 in the last financial year.
Growth of 16.7% is the best since 2002-2003. Sydney is now outperforming the
whole of Australia.
The are plenty of reasons - record low interest rates, strong investor activity, strong
population growth, increased mortgage competition by the lenders and economic
growth from a rebalancing economy.
Sydney’s Lower North Shore continues to be a star performer and, strange as it
seems, making many potential sellers unsure what to do. This has created a serious
shortage of quality property.This certainly helps explains some of the exceptional
prices that have been achieved over the last few months in the Neutral Bay,
Cremorne, and Mosman markets and a “boom-like” Auction Clearance Rates of over
80% last month. These conditions will keep buyers focused on making a decision in
the critical months of October and November leading up to Christmas,
Over the winter our average Days-on-Market, a key indicator of strength in the
market, was a record- breaking 15 days. Conditions are in a rare sweet spot that
obviously won’t last forever. With Spring starting to kick-in and Christmas 100 days
away now is the perfect time to act if you want to be sold and settled by Christmas.
We want to make a real contribution to your property plans this year. As always, we
are only too happy to give you an informed and savvy Market Appraisal and, if you
like, put together a powerful, cost-effective selling strategy.
If you want a Happy Christmas let’s start talking
.
Michael Chant
(m) 0414 543 216
(e): [email protected]