WELCOME TO YOUR MARKET UPDATE We’re into the Spring property selling season and it’s unlikely that many would have believed the resilience of our property markets at the beginning of the year. Property prices have kept rising despite 12 interest rate rises, high inflation and reduced borrowing capacity. Sydney prices are up 7.8% year to date, and are 2.1% higher than they were 12 months ago. We’ve now clearly passed the bottom of the market downturn, following 8 month-onmonth increases in median property prices. And now that it’s unlikely we will have further interest rate hikes buyer and seller confidence will only increase. Auction clearance trends tend to be a great “in time” indicator of market sentiment, and currently we’re averaging 10% higher than the same period last year. Moving forward, over the Spring selling season our market will be influenced by the volume of housing stock available for sale. After all, some of the city’s suburbs are so tightly held that an available property for sale comes around once in a blue moon with homeowners holding onto their houses for as long as 20 years. East Killara and East Lindfield are still in particularly strong demand as homebuyers wait to secure their dream property. If you’re like most residents, your family home is your biggest and yet you possibly don’t know how much this asset is actually worth. Call me today, I’d be delighted to provide you with an obligationfree market appraisal. Yours faithfully, Anna Chow, J.P, LREA Sales Director 0416 238 288 anna.chow@assetrealty.com.au
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