First published 28 Jan 2010
Further end of year results show that Sydney’s property market is back on its feet after stalling through the Global Financial Crisis, and according to Australian Property Monitors’ (APM) data published today in the Sydney Morning Herald, the Lower North Shore is leading the way in growth. The median Sydney house price rose 12.1% last year, but leapt a staggering 21.6% in the Lower North. This means sellers are in an opportune position to achieve a strong sale price on the back of the swell in consumer confidence.
APM economist Matthew Bell attributes this staggering rise to activity in the luxury home sector of the market, something that many sellers in the Lower North Shore will be happy to hear after a tough period for prestige sales in 2008. This is consistent with what we have experienced here at Century 21 Mosman, as we have seen buyers return to the upper end of the market and achieving sales commiserate with pre-GFC expectations.
If you have been waiting on the market to turn to consider selling, it could be timely for a Century 21 Market Appraisal today. Now is the time to beat the rush of stock back onto the market – call us for an obligation-free chat.
See you out there,
Joshua Wygoda
02 9968 1700
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