Headlines about the property market continue to be foreboding as many speculate about the future. Nationally, some market commentators are now predicting up to 20 per cent price falls in some markets off the back of inflationary pressures and rate rises. Interestingly, these are the same “experts” who predicted 30% falls at the start of the pandemic in 2020 - and effectively the opposite happened. There is of course no crystal ball to predict the future. Our focus whether we are selling or leasing on behalf of our clients is that we “control the controllables” and focus on achieving the best possible outcome based on known facts and conditions. That philosophy has always delivered us the best results, regardless of market conditions – and we never lose sight of this. Locally, the Upper North Shore property market has always been largely protected from significant market volatility. Yes there is price rise and price fall, but the underlying demand for buyers to live in this location is always strong and it is a family area always in demand. Our June results support this positive view of the market – across our five offices, we sold 50 properties with an average days on market of 29. For the financial year, we sold 662 with an average days on market of just 25 and a total market value of $1.7B. Personally, I’m proud to have sold 63 properties over the past financial year for my clients at a total value of $155m. If you would like any real estate advice, a market update, or a current valuation of your property, please feel free to get in touch with me anytime. I look forward to speaking with you. Matt Bolin Partner 0417 269 023 | matt.bolin@raywhite.com WHAT’S HAPPENING IN OUR MARKET?
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