For experienced agents, these conditions are not new. It means working smarter. Communicating constantly with vendors to help them make decisions, implementing technology changes, offering the choice of methods of sale between auction and private treaty, and knowing how to run a successful campaign for both. It means servicing buyers to the utmost, having the support of a large franchise brand with their finger on the pulse to keep you informed of market conditions and data, and an intricate local market knowledge. All of which, as your local Ray White office, we are providing for our clients. Testimony to our agency’s ability to adapt to the changing market quickly is our extremely low days on market compared to our competitors. In a recent report released from Domain.com, our average days on market was just 38 days, compared to 94 days for properties sold by other agents in the same period. In essence, lower days on market mean higher sale prices. As for the rental market, rents have increased on the back of the Covid boom, and landlords have instigated rent rises in some cases to adjust to higher mortgage payments. Demand is still relatively strong with our vacancy rate at very low levels. However, we have not seen a rapid spike in rents as many Sydneysiders who moved to the Coast during the Covid period have now returned to Sydney. A more detailed summary from our senior Property Managers can be found later in this booklet. There are mixed messages about the direction the property market may take in 2023. We feel there will be a slow start to the year with further interest rate rises and a State election in the mix. By mid to end next year we believe we will see stabilising prices. We are already seeing new stock entering the market at corrected prices meaning shorter days on market. If buyers see the value, they will buy. In 2022 we continued our support of local schools and community organisations. We presented weekly awards at Bateau Bay Public School and Michael Melville sponsored a weekly award at Killarney Vale Public School. We helped Central Coast Kids In Need through their annual Christmas collection, raised funds for the Westpac Helicopter Rescue Service through their annual Magenta Golf Club Day, and by hosting their Melbourne Cup Luncheon, and supported Samara Nieddu for the World’s Greatest Shave. Thank you to all our team for their hard work. A big congratulations to Michael Melville from our sales team for making it into the top 5 regional salespeople in the Ray White network at their 2022 annual awards. Our business continues to go from strength to strength, and we have some exciting ideas planned for 2023. Finally, a massive thank you to all our tenants, landlords, buyers, and sellers whom we have been able to assist in 2022. Peter Moran Director / Licensed Real Estate Agent Janelle Moran Principal
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