Welcome Happy new year and welcome to our first newsletter for 2016. We are looking forward to another exciting year and would love to assist you with any of your property needs. My team and I are always available for a chat about the market and provide an appraisal if desired.
John Paranchi T 02 9816 8110 M 0411 508 890 E johnparanchi@mcgrath.com.au
The Local Market Strong early sales indicate the new year has brought new strength to the residential market in Gladesville, Putney, Tennyson Point and Ryde. In late 2015, there was a spike in the number of homes listed for sale across Sydney and our area was no exception. This resulted in slightly softer prices and lower auction clearance rates. This year, our local market has returned to low supply and we’re seeing big numbers at opens and solid buyer competition for our clients’ homes. We sold 33 Prince Edward Street, Gladesville prior to the first open for $1.51M to a buyer originally looking in Lane Cove. Our relationship with their buyers’ agent resulted in them exchanging within 24 hours for a price above our
vendor’s expectations. We welcomed 42 groups at the first open for 35 Aitchandar Road, Ryde and we sold it within a few days for $2.575M. Sydney house prices continued to rise in January, with RP Data statistics showing a 0.7% gain in the median house price for the month. If you are interested in selling, we recommend you begin the process now. Easter is early this year on March 25-28 and the school holidays are April 9-25. To avoid these market disruptions, please call me on 0411 508 890 for a free no-obligation appraisal and discussion on the best timing for your particular property campaign.