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APRIL MARKET UPDATE

There are still strong growth conditions continuing in the Northern Districts. Whether it’s a home, duplex or unit, people continue to show an immense amount of interest with over 35 groups attending on first open inspection. This upcoming 1st of April we have four homes being auctioned off (see calendar) and we expect a great turnout.

Our office has done it again with setting suburb records under the hammer. 34 John Miller Street, Ryde sold for $3.005 million setting a new record for Ryde for a residential property under 1,000sqm. The auction kicked off with an opening bid at $2.6 million and that was quickly overtaken to a $3 million bid, with over 20 bids in total. According to CoreLogic auction results, 2017 began on a very strong footing with capital city clearance rates generally tracking in the high 70% to mid-80% range from week to week.

CoreLogic also predicts that the market will continue to moderate due to affordability constraints impacting on housing demand, as well as higher supply levels and an eventual slowing of investment demand brought about either changed lending policies from Australian lenders or via regulatory changes aimed at slowing credit growth across the investment sector. If you’d like to discuss finance prior to buying a property, please contact our loan specialist from Loan Market, Nick Gray on 0420 944 243 or via email nick.gray@loanmarket.com.au and he’d gladly have a FREE CONSULTATION with you!

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