Welcome to Spring! Traditionally Spring is one of the busiest seasons in real estate for sellers, with buyers setting themselves with a December deadline to move in.
August has proved to be another bumper month for sales with properties selling for top dollar. Properties numbers sold within our service for the month of August are as follows, Kiama 14, Kiama Downs 4, Jamberoo 2, Gerringong 3, Gerroa 1 and Shoalhaven heads 4.
Ryan Stalgis has achieved another amazing result in Gerroa, $2,680,000 sale price for 53 Riverleigh Avenue, Gerroa. Claire Nunn has proved to be the Shoalhaven Heads expert for August not only by achieving the sale of 24 Bolt Street, Shoalhaven Heads for $1,415,000 but by being the lead selling agent on 4 out of the 5 properties sold in the area.
At a time when there is a disparity between properties for sale and an ever-increasing number of ‘market ready’ buyers eager to position themselves for regional living, property prices are at all time high. Predicably this will create an environment that will support further house price gains.
Recent statistics show this trend continuing despite further movement restrictions:
- The week ending 22 August, Sydney’s preliminary auction clearance rate was a boom time 81.7%, but sales volumes are down significantly due to the extended lockdown
- Median property price according to Realestate.com.au; house price – $1,247,500, house rent – $600/week, unit price – $742,500 and unit rent – $525/week.
Although we are in pressing times it is still amazing to see the Kiama community be able to continue to host the weekly farmers markets every Wednesday from 2.00pm at Surf Beach. Being able to adapt to the new restrictions is a small ask when it means we can still enjoy some normality within our regional community while supporting our locals when they need it most.
What will the real estate market look like this Spring due to COVID and regional travel restrictions?
We know there are a strong number of qualified buyers out there who were unable to secure a property prior to the current COVID lockdown, in addition to these buyers, we also expect to see a number of new buyers enter the market.
Regional areas like Kiama, Gerringong, Shoalhaven Heads and surrounds are in high demand, allowing people the ability to work from home long term whilst being in close proximity to Sydney. These new conditions combined with low interests rates provide the opportunity for a coastal and regional change for buyers.
We are still seeing strong prices achieved currently, looking forward the most likely scenario is that prices will continue to rise, while the Spring selling period will also push into Summer.
If you are thinking of selling, NOW would be the best time. Be ahead of the listing trend. Don’t wait until restrictions have eased, selling in ‘isolation is better than selling in competition’.
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