~ High demand from first home buyers and investors, 49% of July sales below $500,000 compared to only 36% in June.
~ Median house price is down from June's record high $567,000 to $530,000 in July (6.5%) and for the first time in many years, the median was down on the last year (July 2017 was $531,600).
~ The limited number of available properties for sale has dropped again, this being the primary constraint on sales volumes with only 656 houses available for sale compared with 670 last month (down 2.1%).
~ July saw available stock decline, 656 at the time of reporting, down from 670 in June.
~ July saw the predominant selling range remain steady at $450,000 to $650,000 with 9 property sales in excess of $1 million.
~ Rural and lifestyle market continue to attract enquiry across all locations but market sale numbers are constrained due to the lack of available listings.
If you or someone you know is contemplating selling in such a strong market, don’t delay and talk to Shaun today about an up to date market appraisal and how to set the right strategy to achieve a premium sale price for your property.