Sales & Rental Market Reports – OCTOBER – DECEMBER 2016

 

Our fourth quarter OCTOBER – DECEMBER 2016 Sales & Rental Market Reports are now completed and found by choosing the relevant suburb, then clicking the links below. If you would like a free customised report specifically for your property, please contact us and we would be happy to provide this for you at no obligation.

 

Sale Marketplace SYNOPSIS and FORECAST

The October – December Quarter saw the Sydney residential property market experience strong price growth fuelled by continued high demand from Buyers.
Auction volumes were maintained at all-time record levels across various price points in most areas of Sydney, whilst Auction clearance rates were also strong, hovering around 80% into late December.

‘Time-on-the-Market’ for properties “For Sale” averaged less than four weeks which is phenomenal given the record high sales volumes experienced without the expected traditional Christmas slow down arriving. In fact we sold four properties in the week before Christmas!

No doubt Buyers are more positive with the Reserve Bank’s continuing low interest regime and their confidence in the Australian economy has also improved with commodity prices on the rise, statistically high employment rates and the Australian dollar falling slightly.
2017 commences with strong demand and corresponding robust price resilience. The market appears to be good for both Sellers and Buyers. Here’s to securing your future through sound investment decisions.

 

Rental Marketplace SYNOPSIS and FORECAST

The market saw a very high level of supply of new 2 bedroom apartments during last quarter 2016. At times, over 250 apartments were on the market for rent. Rental prices for these properties fell around 10%.

The first quarter for 2017 has already shown strong demand for all property – units, apartments, townhouses and houses. Open house numbers are exceptional – usually around 10 per property. By the 14th January, 8 properties were deposited or leased through John Pye Real Estate. This is high considering the first few days the office was closed. Overall most properties are now taking around 1 to 3 weeks to lease.
Presentation is very important in terms of both demand and ROI (return on investment). Tenant standards are high. Landlords are now receiving applications from excellent tenants who care for their ‘rental home’ and pay rent on time. Investors who renovate experience an additional return of between 15 to 25% on their renovations.

Apart from the decrease of 2 bedroom apartment rental prices, house and townhouse rental prices have remained firm for the year. Our prediction is that house demand will outstrip supply in 2017 which could see such rental prices increase.

 

Please let us know if you have any questions about the market, in relation to selling, buying, renting or investing, or if you require any service.

 

Click below for the suburb reports:

 

Asquith Units

Asquith Houses

Berowra

Berowra Heights

Cowan

Hornsby

Hornsby Units

Hornsby Heights

Mount Colah

Mount Kuring-Gai

Normanhurst

Pennant Hills

Thornleigh

Waitara Houses

Waitara Units

Westleigh

Leave a Reply

Your email address will not be published. Required fields are marked *