Ray White Bungendore

Two long weekends, a state and federal election and the banks behaving like it’s not their job to loan money... glad we’re past all that! We are now intoWinter although Autumn was interesting for us, there was no shortage of buyers but rather a shortage of money and this kept a lid on some sales. The average days on market (DOM) for our area duringMay was 97 days (Domain) whilst allhomes indicate sales across all agents, 17 homes sold in Bungendore, 5 in Bywong, 3 inWamboin and 5 in Carwoola. Along with sales inMulloon, Tarago, Mount Fairy and other nearby areas it becomes clear the credit crunch didn’t stop everyone. Domain Property confirms RayWhite Bungendore was the number 1 selling agency across Palerang during May and had an average DOMmeasurement of 33 days better than the market average. Sometimes the market is a quieter proposition through Winter although with stamp duty being abolished for first-home buyers and APRA’s revision of lending policies, the banks can return to servicing home loan applications. If you’re a vendor, these factors along with fewer listings on the market could mean it’s a good time to be involved, with more interest from frustrated buyers as the banks loosen up. Equally, if you’re a buyer there may be an argument developing around these same changes, Spring might arrive early. Chat with Doug or Ellie for more info. RayWhite Bungendore Sources: Domain .com.au & allhomes.com.au What’s happening in our market?