It’s that time of year - a moment for reflection, planning, and celebrating the achievements of the past year. Amidst all this activity, we’re here with our spring quarter update, insights on the general marketplace, and highlights of some recent sales. There’s no doubt that 2024 has presented a more challenging property market than we’ve seen in recent years. Spring has now concluded, with regional property markets continuing to outperform capital cities like Sydney, Melbourne, and Canberra. According to the Quarterly CoreLogic Regional Market Update, 10 out of 21 NSW Significant Urban Areas experienced property value declines in the three months prior to October. Locally, Batemans Bay recorded the largest drop in NSW, down 2.7% in the same quarter. While a softer property market in the ACT may have influenced this, it could also reflect the return to baseline after strong performance during COVID. Closer to home, it’s been a quieter year for sales volume, though buyer interest remains active. Online enquiries have been steady, and spring saw reasonable inspection numbers despite the market slowdown. To date, we’re reflecting on over 60 sales this year and are managing several additional properties due for settlement before year’s end. Buyer interest is strong across the board, although some price brackets and property types are performing better than others. Some of our key highlights this year include: • Top 10 ranking in NSW within the Ray White Rural Group 23/24 • Maintaining a market share of over 40% in our primary area for much of the year • Setting and then breaking the 2024 residential record sales price - twice in two weeks. As the holiday season approaches, our team is working hard to wrap up (pun intended) as much as possible before the New Year. It’s been a terrific year for us, and we hope it has been for you as well. To our 2024 vendors and purchasers, congratulations on your sales and new homes! To our suppliers, thank you. We wish you all a fantastic and safe holiday break and look forward to welcoming you back when we reopen on 6 January 2025. WHAT’S HAPPENING IN OUR MARKET?
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