Ray White Point Clare

What’s happening in our market? Well, 2019 may have started off slowly, but in the last couple of months it certainly got into its stride! Throughout Spring, we saw buyer demand increase steadily but the frustration remained that there was simply nothing to buy! Thankfully, as we ticked over into Summer, hopeful sellers finally took note of the dramatically improved market conditions. We saw a significant increase in properties coming to the market and with plenty of buyers waiting in the wings, it was no surprise that many of these properties were snapped up incredibly quickly. Where earlier in the year the average days on market had risen to 45+ days, it quickly dropped again. Many properties sold within the first 2 weeks of being on the market and some even within the first few days! Whilst we haven’t seen prices exceeding owner’s expectations as in the Sydney market, in many cases properties have been selling in-line with what owners were hoping for. A dramatic difference to earlier in the year, where we had to weather the storm of prices dropping by 14% locally, and where sellers were having to reduce their expectations on price in order to achieve a sale. So what can we expect heading into 2020? In November, Sydney experienced its largest monthly house price jump since 1988, so we should expect that rapidly rising prices in Sydney should drive cashed up buyers north in search of better value. Traditionally our market tends to follow the Sydney market’s movements, but simply lags a fewmonths behind. We’d strongly suggest getting in early as the first fewmonths of the year are shaping up to have all the ingredients needed for exceptional sale prices! AndrewMacdonald Principal, RayWhite Point Clare