Ray White Lane Cove

There is no doubt things have definitely slowed in some areas of Sydney. Although for many potential home seekers, this hasn’t necessarily correlated with an easier ride. Even with the current overall market ‘softening’, as of July 2018, Lane Cove’s median house price was still an incredible $1.84m with dwelling values 40% higher than they were five years ago. After the astronomical growth Sydney experienced between 2012-17, which saw prices rise by a whopping 85%, even a modest price correction could be considered a ‘stark’ contrast. There are a few factors contributing to Sydney’s recent slowdown: • The tightening of lending criteria + affordability constraints (aftershocks of the royal commission) • Less investment activity • Weak household income growth • Potential increase of interest rates • An increase in the supply of properties for sale Customers have voted Paul Nees ‘Agent of the Year’ in Lane Cove in the 2018 RateMyAgent awards. Also, Ray White Lane Cove has been awarded ‘Agency of the Year’ in Lane Cove and Lane Cove North for 2018. “To be voted number one by your clients is the best praise we can receive.” Paul Nees - Principal Call Paul Nees of Ray White Lane Cove on 0432 995 847 for an appraisal today. What’s happening in our market?