Throughout March & April, we saw a sizable reduction in new listings, 13% less across the country. These figures are similar to last year’s listing results for the same period, with many property owners seemingly sitting on the fence for the time being. The reduction of available properties to purchase can often work in the seller’s favor. Around the country, including regional NSW, sales prices continue to creep up. Many areas are experiencing a sub 1% growth although in a few select spots double-digit growth is still present. Whilst the RBA and the Federal Government share different opinions about the economy, they both agree inflation is definitely on the decrease at the moment, and this may be why buyers are showing more interest and activity generally. In line with this, prices remain mostly positive, and this stability is expected to continue through 2024. The average median price for a house in Australia at the moment is $870,000. Using HtAG figures, a typical house in Bungendore is now $1,061,000, Wamboin $1,610,000 whilst Queanbeyan typical prices by comparison range between $722,000 and $1,089,000 depending on the suburb (HtAG Analytics Pty Ltd*). No matter what the market is doing, Ray White Bungendore is a small team making a big impact across the Palerang region, with years worth of statistics, testimonials and record results. With a passionate, educated and professional team, our agents are the go-to for selling your property. We know the region like no other, and understand exactly why it’s the place to live. *HtAG Analytics Pty Ltd (2024). Master Your Property Investment Decisions with Data-Driven Strategies. [online] Higher than Average Growth. Available at: https:/www.htag.com.au [Accessed 15 May 2024]. WHAT’S HAPPENING IN OUR MARKET?
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