Welcome The school holidays begin on September 19th and Gladesville Library is offering a number of fun activities including two craft days for ages 5+, ‘Creative Junk’ and ‘Captured Dreams’; as well as Pyjama Storytime. Phone 9952 8352 to find out more.
John Paranchi T 02 9816 8110 M 0411 508 890 E johnparanchi@mcgrath.com.au
The Local Market The number of local homes for sale has increased significantly now that we have commenced the traditionally busy Spring selling season. This is a pleasant change for buyers who have been starved for choice for some time, particularly this Winter when supply was very low. We began the Winter season with stock levels across Sydney down by more than -20% in mid-May compared to the same time in 2014, according to CoreLogic RP Data. However by early August, a spike in pre-Spring listings saw the deficit reduce substantially to -5.4%. One of the early trends for Spring appears to be new demand at the upper end of the local market. My team and I achieved two strong $3M-plus sales in the last
week of August – $3.682M for a property in Tennyson Point which was a new nonwaterfront suburb record; and $3.4M for a property in Putney which was the second highest non-waterfront sale in the suburb. With all the upheaval on the local and international stock markets of late, these two sales are particularly notable as they indicate to us that Sydney’s smart money is going into real estate. If you are considering selling this Spring, it is best to start the process sooner rather than later to beat the inevitable pre-Christmas rush that we always see in November. For a free no-obligation market appraisal of your home, please call me on 0411 508 890.