DiJONES experiences strong finish to financial year
Solid interest from buyers resulted in strong activity at auctions to round out the 2018 financial year despite a slowing of the market, according to DiJONES.
“While buyers have become more picky, desirable properties that are priced sensibly are still selling well under 30 days through the Auction process,” DiJONES Head Auctioneer Josh Larsen said.
“Despite inspection numbers softening and finance approvals tightening, from 12 months ago, properties are still selling and there are still buyers in the marketplace."
“The vendors who have achieved success, have acknowledged that whilst they may have missed selling at the peak of the market, they have still experienced their property value increase significantly over the past 5 years, and they are still ahead,” he said.
DiJONES realised 14 from 18 properties sold at auction in the last two weeks of June 2018. Ranging in price from $720,000 to $3.850 million with an auction clearance rate of 77.8 per cent across the network, this compared to the average auction clearance rate across Sydney of around 55 per cent.
“In Sydney’s Northern Suburbs we saw some outstanding results, with more than 120 people viewing the property at 7 Moorilla Avenue, Carlingford. The four-bedroom, two-bathroom family home sold for $1.522 million."
Around 60 people viewed a four-bedroom weatherboard home with outstanding character features and close to Thornleigh train station. The property at 35 Wells Street in Thornleigh sold for $1.301 million, while an exquisite five- bedroom, four-bathroom residence at 83 Pymble Avenue in Pymble sold above its price guide of $3.8 million.
Meanwhile in the Inner West, a renovator’s delight at 28 Myrtle Street in Stanmore sold for $1.350 million.
“It was a well inspected home and solid prior to auction,” Mr Larsen said.
In the Southern Highlands, Holly Lodge, a picturesque four-bedroom homestead on 10.5 hectares (26 acres) on the fringe of Bowral sold for in excess of its price guide.
Mr Larsen said the Southern Highlands market is continuing to experience strong migration from Sydney buyers which is helping to support price growth in the area.
“Looking ahead, we’ll continue to see strong activity for quality properties that are priced correctly,” Mr Larsen said.