By Jane Donald
In summary this quarter was our most active in the last 12 months and August was our busiest month. Winter is no longer perceived to be the wrong time to sell, sellers instead choosing to sell when it suits them.
We had 524 buyer inspections, 129 offers made resulting in
35 exchanged contracts.
$1,055,000 highest price
$300,000 lowest price
The average days on market fell from 54 in quarter 2 to 48.
Overall the top end is still experiencing a reduced demand and is oversupplied. In many situations vendors are having to reduce their price expectations to obtain a sale. Sub $550,000 is strong with interest from first home buyers and investors. Are lot of these are metropolitan based.
the median rent held steady at $470 per week, although there are indications of downward pressure on rents for higher-priced 4-bedroom homes due to a reduced pool of tenants.
Highlighting standout sales, 6 Delta Rd sold off market for $650,000, facilitated by Elle Roberts. Additionally, 3 Reakes Ave sold for $695,000 attracting multiple buyers to compete and 104 Gipps St sale was negotiated post auction for $900,000 to a local investor.
The most sought-after property, attracting over 50 groups to inspect was 36 Sturt Circle, selling for $495,000.
Interest in Joira Estate continues to build with 3 lots sold and another 5 lots with deposits taken.
We are now operating in a two tier market with the sub $600,000 experiencing strong demand and above that a reduced pool of buyers with offers made being conservative as buyers consider that market may get cheaper.
