Market Wrap - 7 November 2019

  • We are looking back at a very successful week for Harris Partners with 4 properties sold

    53 Arcadia Road, Glebe,

    100/11 Wigram Lane, Glebe,

    22 Edith Street, Leichhardt,

    52 Cavendish Street, Stanmore.

     

  • Interestingly, 3 of the 4 properties that sold, previously underwent unsuccessful auction/advertising campaigns. All of the properties exceeded the price they had been offered in the previous campaigns in a clear demonstration of the market strength. 

     

  • According to ABS housing finance data for August 2019, first home buyers comprised the largest proportion of national owner occupier mortgage activity since early 2012.  The data showed first home buyers comprised 29.8% of the national market for owner occupier home loans; almost five percentage points above the decade average of 25%Read more

     

  • SQM data shows national residential property listings rose in October by 2.0%, up from 312,754 in September 2019 to 318,874. Compared to 12 months ago, listings were down by 4.8%. Read more here

     

  • Rampant housing demand fuelled by record low interest rates has drained Sydney’s supply of properties available for sale this spring and spawned another housing boom. Read the full article

     

  • Spaciousness is about size and perception. It’s not always possible to take out walls, especially if you’re renting, but there are a number of little decorating tricks you can use to visually elongate a living room. Read more here

     

  • Off-market listings are booming as agents aim to avoid onerous and unnecessary advertising costs on major website portals. Off-market sales actually outnumber auction sales in parts of Sydney at present. Read more