Market Update April 2012

Filed under: Auction Interest rates N G Farah Property Real Estate Record Reserve Bank Sales Southeast Sydney

Market Update

Real Estate Sales were strong during the first quarter of 2012 for N G Farah. Properties that had been on the market from late 2011 and hadn’t yet sold, were eventually sold in the first quarter of 2012 for their asking prices. Overall there has been a shortage of stock in the southeast region of Sydney and as a result of that, there are not as many buyers looking for property. Buyers are inspired by choice and you can be sure that the more properties that are for sale in the area, the higher the numbers will be at open houses.
 
The Southeast is still poised for continued growth, demand for property is increasing and buyers see more value now in the market than maybe 2 or 3 years ago. The fact that the rental market is on the up and up and there is a shortage of rental accommodation will ultimately fuel property prices in our area. Already in 2012, N G Farah have made some record sales which include 
 
-       4 Winburn Avenue Kingsford                        $2.83 Million
-       3/96 Beach Street Coogee                            $2.2 million
-       36 Burke Street Chifley                                 $1,050,000
-       36 Sackville Street Maroubra                        $1.53 Million
-       22 Rainbow Street Kingsford                        $720,000 ($120K over the reserve)
-       3/8 Major Street Coogee                                $1,050,00 ($130K over the reserve)
-       273-275 Avoca Street Randwick                  $4 Million
-       28 Abbe Receveur Place Little Bay              $1,070,000
-       58 Snape Street Maroubra                            $1,185,000
 
Governor of the Reserve Bank, Glenn Stevens decided to keep interest rates on hold today, but you can rest assured that over the next 3 – 6 months, interest rates will definitely fall, which will make property even more attractive. Buyers are attracted to the Southeast of Sydney due to its strategic location to the CBD, Sydney Airport, UNSW, Eastern Beaches, Prince of Wales Hospital and Centennial Parklands. Ultimately the Southeast is land locked and whilst buyers may be cautious today, we believe prices will continue to be buoyant as more people continue to value convenience and lifestyle over price.
 
Already in 2012, N G Farah boasts an auction clearance rate of 76%, well over the industry average which has remained between 50%-60% for the past 12 months. May is traditionally a strong selling month, so buyers will have more choice in the weeks after Easter.


Posted on Wednesday, 04 April 2012

Previous Next

Archived Posts

Tags

1 Livingstone avenue 100% Sold 130 properties sold in 2013 2 bedroom 75% above reserve affordable apartment apartment sales apartments Apartments and Penthouses April in-room auctions Auction Auction Clearance Rate auction night Auction Sold Auctions Auctions Sold Beachfront Homes Beachside Boutique Brookfield buyers Chifley Coastal Living competitive market conditions convenience assured Coogee Cooley Auctions Cooley Golf Classic Crown Plaza Crowne Plaza Crowne Plaza Coogee current market DA Approved Damien Cooley David Lee December Auctions Don't miss out Eastern Suburbs Exceeding Reserve Prices family community Family Home family residence Father Chris Riley First Home Buyer Opportunity for sale Freestanding Golf Courses Golf Day high confidence High demand House in Rosebery houses ideal market conditions In room auctions In rooms increase in buyers Interest rates interest rates; auction; reserve price Investment Opportunity Joe Recep Junior Rugby League Ken Smith Kensington Kensington Apartments Kimberley Grove kingsford Kingsford Apartments Light Rail Little Bay Marinos Euripidou market leading results Maroubra Maroubra Junction Martin Farah Mascot Jets matraville May Auctions Mod League N G Farah N G Farah auctions N G Farah Project Marketing N G Farah sells 100% New Apartments New community new development New Developments New Sales and Development New Sales and Developments North Facing November October Onsite Auctions Original Outstanding Results over reserve over reserve price Parkside Peter Goulding Prince Henry Property Quality properties quality property quick sale randwick Real Estate Record Record Price Rosebery Record Prices renovated Rental Return Reserve Bank residential property Sale Sales sellers semi cottage shopping village Sold South Sydney Rabbitohs Southeast Sponsorship Spring Sales Strong Market conditions Strong results stylish Sydney Terrace The Post The Post Launch The Princeton the spot this Weekend Torrington Road UNSW Vacant Land Value value for money Walenore Youth off the Streets