March Monthly Market Update – Has your property’s value changed?

Property – 141 Willowvale Road, Gerringong

It’s hard to believe the first quarter of 2023 has passed already. Following on from the Christmas break, we typically saw an increase in engagement with buyers during January and February. The state election, interest rates and economic forecasts have played a role in buyer confidence and activity this past month. In light of this however, it has allowed us to work very closely with active buyers who are looking for that ideal property. We are currently receiving plenty of interest from property owners who are curious about how their home may be valued in the current market. Has the value gone down? Has their property maintained its value?

It’s always best to speak with one of our agents in regard to this, however to give you a bit of insight into how the value of your home is determined, we thought we’d share the below…

What’s your property worth?
Many factors come into play when determining the market value of your property.

These factors include:

Location & Lifestyle
Buyers pursue properties that put their desired lifestyle at their fingertips. Proximity to schools, parks, beaches and playing fields are important considerations for families. While properties close to cafes, public transport and with views would likely appeal to those downsizing or couples without children.

Properties that present attractively and require little or no work tend to attract a premium compared to those on which a buyer will need to spend money to improve or repair. It can sometimes be worth investing in small enhancements to add significant value come sale time.

Comparable Sales
Recent prices paid for similar properties near you are an excellent indicator of what the market is willing to pay for your property. First National Coast and Country have access to the very latest sales data in your area. We provide 30 years of local real estate intelligence in our area, as well as the most accurate data on recent comparable sales.

Market Trends
Economic conditions including interest rate fluctuations, rental income, government and council controls all have an effect on property values. Our team can help guide you on the optimal time to sell your property, to ensure we maximise your sale price.

Current Competition
Having plenty of active buyers around combined with a moderate number of properties on the market contributes to a premium price. A strong marketing campaign can also help ensure you attract the maximum number of active buyers through your door.

Why knowing the value of your home is important?
Appraisals are beneficial to remain up to date on market trends and your properties current value. Real estate is the biggest investment most people will make in their lifetime, so it’s important to be informed about what your property is worth and what is happening in the market, even if you are not considering selling or buying in the next few years.

We are happy to provide you with an updated property appraisal and market update. They are obligation free and at no cost to you.

If you would like to receive an updated appraisal for your home, please reach out to one of our agents or simply reply to this email. It is our pleasure to provide this service to you.

What makes us unique at First National Coast & Country is that we are the longest-serving real estate team in the area, operating throughout the Kiama, Gerringong and Shoalhaven Heads localities for over 35 years. This means that we have established relationships within our community, and large database of buyers looking to relocate or invest here. We are regularly in contact with more prospective buyers than any other local agency, which allows us to understand how your property would perform in the current market.

We build strong rapport with both property owners and prospective buyers, which positions are agents to achieve amazing results when it comes to selling.

The Team at First National Coast & Country

Community Support

Seeing our community thrive is important to us as an organisation, that is why we continue to support as many local groups as we can.

We are proud sponsors of the Shoalhaven Heads Golf Club and the monthly First National Coast and Country Medal, awarding the winners for A, B and C grades. Locals recently took part in their Shoalhaven Heads golf monthly medal tournament a big congratulations to this month’s winners Pictured below is winner Darren Chung. Well done to everyone that competed in this tournament, it was an awesome day!

Our Recent Sales

Enquiry Form