2018 Newington Property Report & 2019 Predictions

2018 will remain a year of strong sales and weakening interest, with the year starting out with strong consumer confidence and bullish buying behaviours, and then transitioning to a market fuelled by fear and speculation. Finishing the year some 10% down on sales prices and some 18% down on sales volume. This was largely due to the tightening of lending conditions led by APRA, and the Royal Commission into banking behaviour and practices.

Locally, we experienced some strong sales early in the year with a suburb record price being achieved in second quarter, most notably the highest price paid for a house in Newington: 56 Newington Blvd Newington 4 Bed House 23 May 2018. $1,801,000 (9% lower than the previous year’s highest price).

Read full report: 2018 NEWINGTON PROPERTY REPORT & 2019 PREDICTIONS

Posted in News on 14th February, 2019