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.
December 2021 Monthly Property Market Update
Hi, Andrew & Marko from Elders Real Estate & welcome to the last market update for 2021! What a year it’s been in the property market – from a full lockdown to an ultra-competitive market, stimulating growth & setting new benchmarks for our suburb.
Over the course of this year we’ve shattered many property results which is indicative of how strongly the market was performing despite COVID-19. Looking back, we can see the combination of low interest rates, easy access to funds & a low amount of stock on hand coupled with a surplus of buyers was the driving factor behind the market rise. Some highlight sales for November include 23 Peter Parade, which sold for $1,400,000 67 Chanel Street, which sold for $1,300,000. & 7 Valparaiso Avenue, selling for $1,348,000 at auction.
Overall, November was a great month with the team assisting multiple owners come to the market & exchanging 17 contracts with a few lucky buyers getting the keys just before Christmas! We’re expecting to see the continuation of a thriving market heading into 2022 & we’re excited for the year to come, which leads me to the question on everyone’s mind. Is now the right time to sell? The short answer is yes. With a buoyant market, expert negotiation & competition in eager buyers, we can bring you a step closer to achieving your property goals.
Thanks for tuning in to our last market update of 2021, we would like to thank all our clients for your support & trust throughout a difficult year. We wish you all the best for the festive season & a happy new year on behalf of the team at Elders Toongabbie.
February 2022 Monthly Property Market Update
Hi, Andrew & Marko from Elders here – Happy New Year & welcome to the first market update of 2022!
Here at Elders we closed the last month of 2021 in strong fashion. Recording 16 Sales & transacting over $17,000,000 worth of real estate.
We’re excited to share the market has continued last year’s momentum which has led to more premium results for our local community. After a couple months of lockdown in mid-2021, the housing market displayed incredible resilience, with never-before-seen prices being achieved each weekend. In hindsight, we can attribute the buoyancy of the market to a combination of Government assistance, plus all time low interest rates giving buyers & upgraders the confidence to make a move.
It’s no secret that Sydney house prices have exceeded peak levels experienced in 2017 & this is a welcome headline to all our clients. It’s evident at our open homes that we’re meeting an increased number of financed approved buyers, who are ready to commit to their future. In the first month of 2022 we’ve recorded some excellent results such as: 28 Vianney Crescent, Toongabbie which sold for $1,200,000 13 Tucks Rd, Toongabbie where the short campaign met 51 groups in day & sold for $1,072,000. 12 Daley Street, Pendle Hill- this 3-bedroom duplex sold for $900,000.
With many owners contacting us to find out the new price for their property, we encourage you to get in touch & let’s discuss how these excellent market conditions have changed the value of your home.
Thanks for tuning into today’s video, as always feel free to share this with your family & friends, my name is Andrew & I’ll see you next month!
March 2022 Monthly Property Market Update
April 2022 Monthly Property Market Update
Hi, Marko & Keerthi from Elders here & welcome to the monthly market update for March 2022. March has been a progressive month, with 2 new additions to the sales team, Gerard & Alex and 4 new additions to the rentals team With interest rates set to rise and the election quickly approaching, signs are showing the market is changing from nuts to normal.
Despite, the talks of a slowing market, here at Elders we have transacted approximately $12,000,000 worth of real estate. Some of our notable sales include: 224 Metella Road, Toongabbie which sold prior to auction for $1,225,000 after the first open home 68 Blackcell Street, Granville which sold for a massive $1,367,000 at a cracking auction 85 Cornelia Road, Toongabbie which sold for a huge $1,320,000 To our vendors out there who are on the fence about selling, Buyers are in a rush to secure their next home right now to lock in low interest rates before they do eventually rise Why not take advantage of this?
The next 6 weeks before the mid May election, we expect to see consistent numbers at our open homes and excellent sales results Take the opportunity to contact us & find our the new value of your home. We look forward to hearing from you To our buyers, the new month of April will bring an influx of fresh listings. Be sure to keep an eye out online as we may have something that will suit your needs Thanks for tuning into today’s video, as always feel free to share this with your family and friends and enjoy your Easter break.
This is Marco and Keerthi logging out