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Market Update from Our Directors

By Therese Bolin

With the Spring selling market just around the corner, we have seen a significant increase in enquiry from prospective sellers, and our busy sales team have been assisting vendors with planning house preparations for the Sep – Nov selling season. Our Winter season sales results support a positive view of the market as we wrap up what is generally a quieter period.

Across our 5 offices we sold properties in every suburb from Roseville to Mount Colah. 116 sales were made with a combined market value of $290m, we maintained an auction clearance rate of 72%, and average days on market of 24 days. Notable sales were:

Highest house sale – 27 Braeside St Wahroonga – $13.010m

Most affordable house sale – 1C Berry Park Way Berowra – $1.011m

Highest unit/villa sale – 1/38 Eastern Road Turramurra – $2.495m

Most affordable unit/villa sale – 30/75-79 Jersey Street Hornsby – $307k

We have also seen strong activity in “off-market” sales during this period, with five properties sold above $5M, the most notable being 11 Lord St Roseville which sold for $9.01m.

In Property Management news, for the month of August our busy team leased 37 properties, being a strong mix of units and houses across most suburbs. Demand remains strong from prospective tenants, particularly for houses and this is keeping investor returns at the highest levels we have seen for over five years.

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