Ray White Bungendore

What’s happening in our market? Here we are in 2020 and what a challenging start it’s been. Fires, heatwaves and storms, our thoughts are with those in the front line, both volunteers and everyone else. We’re proud to announce DougMerriman has been awarded RayWhite Premier status in recognition of his outstanding sales results in 2019/20. This achievement places Doug in the top 10% of RayWhite agents statewide, an accomplishment less than 130 rural and city agents have been able to achieve this financial year. Moving further into 2020, the news looks good for property. Capital city markets are experiencing strong bounce back from the lows of the previous years. Clearance rates are zooming, Core Logic suggest 4 in every 5 properties are selling at auction nationally in February. Typically auction clearance rates of 65% indicate modest growth, whilst 80% (if sustained) is likely to see strong price growth. Preliminary figures indicate capital cities are averaging 79%, and as many of you know, when the big cities fire up we’re not far behind. Another source, Domain, predict that growth in 2020 will be led by Sydney with around 10% growth. The price highs of 2017 will most likely be exceeded with the only limitation being affordability constraints. Palerang has had some positive results too. One noticeable trend in our office has been an increase in off-market sales and along with fewer properties being available it’s resulting in more buyers per property on the market. Realestate.com has confirmed our agency as number 1 of 22 agencies in Palerang for sales over the last 6months. Generally, the number of sold properties has decreased as the number of properties available on market has dropped although for us sales have been consistent.