We have experienced a slight improvement in the market for sales activity, late last year we saw sales volumes and prices stagnate significantly, but the first quarter of 2019 has seen slightly improved conditions for sellers with more inquiries and some addition willingness to negotiate. This to me signifies a changing market momentum as well as improving conditions. This reflects the comments made by Tim Lawless of Corelogic in February that the property market is stabilising at a new level and the mortgage conditions will improve. We have already seen ANZ take the lead in offering interest only loans to investors for set periods.
If you would like a more detailed assessment of your properties location please contact us direct for a confidential consultation (Stevan Vuk-Luboya 0402 003 003 or svl@propertynest.com.au)
Sydney Olympic Park
Only two sales were recorded in the Suburb
2804/1 Australia Av. with an unconfirmed sale price well over $1M
359/1 Betty Cuthbert Av. 1BR Unit $560,000
Newington
Roughly 10 sales took place and a number of refinances were registered.
Highest House Price paid $906,000 3 bedroom
Highest Unit Price paid $890,000 3 bedroom unit
Approx. $7.5M in sales for the suburb
24/21 Blaxland Ave, Newington currently has buyers guide of $1,1-$1,2 mil
Wentworth Point
47 Sales were recorded (14 sales excluded)
Highest Unit Price $1,300,000 3Br
Lowest Unit Price $481,000 1Br
Average Price $704,758
Total Value $23,257,040
Rhodes
32 sales in total (16 excluded)
Highest Unit Price $1,306,000
Lowest Unit Price $560,000 1Br
Average price $874,500
Total Value $13,992,000
Breakfast Point
19 sales in total (5 excluded)
Highest House Price $3,000,000 5Br
Highest Price Unit $2,970,000 3Br
Average Sale Price House $2,685,500
Average Sale Price Unit $1,109,375
Total Sales $18,683,500
Cabarita
4 Sales (2 Excluded, not disclosed)
Highest Price $3,700,000 4br House
Canada Bay
5 Sales (2 excluded, not disclosed)
Highest Price House $1,610,000 3Br
Average Price $1,428,333
Total sales $4,285,000
Concord
30 sales (12 excluded, not disclosed)
Highest House Price $2,000,333 4Bed
Highest Unit Price $1,211,000 3Br
Av Price House $1,581,564
Av Price Unit $671,800
Total Sales $23,919,333