May 2021 Monthly Property Market Update
Hi Andrew from Elders here & welcome to the monthly market update.
April has proved to be a excellent month in the property marketplace, as prices are continuing to rise due to the influx of finance approved buyers wanting to establish their family in our thriving suburb. Sale by way of auction is proving to be the most effective way to unlock your homes full sale potential.
In a less competitive market, fewer buyers were likely to compete at auction although now, buyer sentiment has changed & the willingness to bid has increased. Currently the auction clearance rate sits at 90% for our core area.
We are finding by giving buyers an opportunity to negotiate in a transparent & open marketplace, they can see exactly where the value of the property is & ensure their purchase price is in line with the market.
Over the past month we’ve had the pleasure of maximizing value for our clients, which has ensured that they’re next move is as comfortable as possible. Some of our recent results include; 413 Kissing Point Road, Ermington – Sold at Auction for $1,271,000 42 The Crescent, Toongabbie – Sold at Auction for $1,120,500 2/101 Gilba Road, Girraween – Sold by negotiation for $733,000 If you’re thinking about making a move, now is the time!
The first step is to get in touch with your local experts here at Elders & discuss pricing & an appropriate marketing strategy to ensure you get the best result. Thanks for watching, as always feel free to share this video with your friends and family. My name is Andrew & I’ll see you next month.
November 2021 Monthly Property Market Update
Hi, Andrew & Marko from Elders here & welcome to the monthly market update for October 2021.
Here at Elders we’ve had an exceptional month with some outstanding results leading to very happy purchasers & owners!
In today’s video let’s discuss the current sales climate, including buyer sentiment & the momentum the market is going to carry into November. With a push of new stock releasing to market, there’s very valuable questions to be asked about where our local market could be heading.
With prices continually on the rise & new benchmarks being set almost every week, we must ask when will the market slow down? Well that’s the million dollar question. We can use current sales data, buyer & owner trends plus the bank & mainstream media influence to make an informed prediction on where the market could go.
Let’s take a trip back to June this year, when lockdown was pending & the perfect storm was brewing to push the market into a selling frenzy. Stock on hand was low & interest rate announcements at the time was incentivizing buyers to dip their feet into the market.
Rather than test the waters, buyers dived in, quickly creating an ultra-competitive market for the little amount of property available. With majority of the state locked down & the surplus of buyers still adamantly searching, there was no turning back, prices were full steam ahead. Now surprisingly, we’ve seen the urgency from buyers continue despite lockdown & restrictions easing, which has translated to those peak lockdown prices still being reflected in the market.
Now that more stock is flooding to the market & confirmed changes to finance lending have been announced, the scope of real estate may be in for a slight correction. To say how much, that’s anyone guess. Although logically speaking with less competition from buyers & an increase in properties for sale, it’s natural for things to taper off & settle into a balanced market with equal demand from both parties.
Heading into November we expect to see the market continue to flourish, although we’ll be keeping a close eye & monitoring buyer activity to ensure our clients have full clarity in their marketing campaigns, so we know we’re securing the best price possible.
If you’d like more information on your properties positioning the current market. Contact us today & our friendly sales team will be in touch to assist. Thanks for watching today’s video, as always feel free to share this with your family & friends and we look forward to seeing you next month.