Market Bounces Back

Since restrictions have been eased, in relation to Covid-19, the property market is back in full swing.

According to local real estate agent Glenn Farah, confidence is back in real estate and properties are selling for better prices - at a faster rate - than they were 1-3 months ago.

During the month of May, we exceeded our sales targets by $5MIL in sales.

There were some exceptional sales achieved within the group,  a semi cottage on Alison Road, Coogee was sold for 3.4 Mil. Another semi cottage, without parking, was sold on Garrett Street Maroubra for $2,185MIL. 

A home in Pagewood, backing onto the golf course, was sold off market for $2.685MIL, a record price for that particular property.

Last Saturday, the company conducted over 30 open houses, throughout the East and South East suburbs of Sydney, where an average of 20 groups of buyers at each open house were recorded.

Stock levels are still relatively low which is putting pressure on prices, especially at auctions.

This weekend we have several quality properties going to auction, including, 95 Carrington Road, Coogee and an attached cottage at 14 Stewart Street, Randwick. Both properties have attracted strong interest from local buyers and they will both go under the hammer on Saturday the 13th June, 2020 by NGFarah.