Property Market Update Q1 2019

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

 

Posted in Buy, News, Sell on 4th April, 2019