THE MARKET IS LOOKING UP
Beyond the election, we’ve certainly seen a kick-on effect where we have experienced quite a number of sales in the last two weeks.
There’s some positive signs in the economy and it seems like the property market could be set to follow. It’s only early stages, but at this point in time, I’m feeling much more confident.
Normally winter is a bit quieter but, with quite a bit of stock out there, all of a sudden people are starting to snap up properties. There has been a lot of people sitting on their hands that now, with the election over, are starting to make offers.
The market is looking more encouraging than what it has been over the past six months.
Prices have come down about five per cent since this time last year, but that can vary from suburb to suburb. Some of the data that’s coming through is still showing very little change in the median sale price.
At the moment it seems to be bubbling along and there are still plenty of sales to be made out there coming into the winter period.
There are signs the market is on the improve now. I don’t think we’re going to see it sky rocket, but we may see some steady growth.
There’s still going to be some good buys and I think there will be some home owners out there that will consider selling now that the market seems to have levelled out.
The high end of the market is still getting some very good results because there’s limited properties available. In some areas of our region there’s a lot of choice out there at the moment, which is good for buyers, but makes it a little more difficult for home sellers.
There’s some exciting developments happening in our area, including the Pier 32 luxury harbourside apartments in Wason Street Ulladulla. The building is up to podium level now, so we’ll see things moving skywards from here on in.
There’s also a number of new land releases that have recently hit the market, including the boutique Fairways Estate overlooking the golf course at Mollymook.