Quarterly Market Update WINTER 2024 Courtesy of Ray White Bensville & Empire Bay
In recent months, Australian house and unit prices have maintained an upward trajectory, growing by 1.3 per cent and 0.8 per cent, respectively. The persistently low supply of available properties, coupled with tight listings, has grown competition, resulting in elevated property values across both metropolitan and regional markets nationwide. Despite the recent uptick in inflation, discussions around interest rate reductions have been put on hold. Nevertheless, this continued price momentum is expected to characterise the Australian housing market throughout much of this year. House prices have surged by 10.3 per cent annually, reaching a current median of $873,371, while unit prices have grown by 7.8 per cent over the year, with a national median of $649,774. Interestingly, our data shows increased bidder activity in June, with four registered bidders on average across the country, reflecting strong buyer interest and competition. Across the country, the current preliminary clearance rate for the Ray White group is sitting at 73 per cent, and last week there were 692 auctions booked for the week, up 96 per cent on the same week a year ago. If you’re considering a move, get in touch with us for a chat about local market conditions and options. We look forward to helping you realise your property goals. Matthew Kidd Principal, Ray White Bensville/ Empire Bay WHAT’S HAPPENING IN OUR MARKET?
Are you curious to know the new value of your property in today’s market? At Ray White Bensville & Empire Bay we design marketing packages which are completely tailored to your specific needs and goals. Request a free market review and we’ll provide you with an area profile, recent sales and listing activity and more. Simply scan the QR code, enter your details and we will contact you to arrange a detailed property appraisal. Matthew Kidd | 0417 230 732 HOW MUCH IS MY PROPERTY WORTH?
RECENT ACTIVITY IN YOUR AREA 10 Sorrento Road, Empire Bay 55 Kallaroo Road, Bensville 26 Starboard Avenue, Bensville 84 Araluen Drive, Hardys Bay 29 Starboard Avenue, Bensville 40 Rosella Road, Empire Bay 17 Rickard Road, Empire Bay 8 MacMaster Parade, MacMasters Beach FOR SALE FOR SALE FOR SALE FOR SALE SOLD $1,350,000 SOLD $1,155,000 SOLD $1,430,000 SOLD $2,400,000 3 2 1 4 3 2 5 2 2 4 2 2 5 3 4 4 2 4 4 2 2 4 2 2
FAST FACTS BENSVILLE 8 1. 3. 4. 5. Compared to five years ago, the median sales price for houses in Bensville has increased 71.8% which equates to a compound annual growth rate of 11.4%. PROPERTIES SOLD LAST QUARTER HOUSES AVERAGE DAYS ON MARKET SALES HOUSES MEDIAN $1,262,500 HIGHEST $1,575,000 LOWEST $960,000 Source: CoreLogic RP Data 17 March - 17 June 2024 2. 29 BENSVILLE LEASE MEDIAN HOUSE (3 BED) $750 RENT PER WEEK $1.0M 20 $1.2M 40 $1.4M 60 $800K 0 2020 2021 2022 2023 MEDIAN HOUSE SALE PRICE NUMBER SOLD 2024
FAST FACTS EMPIRE BAY 11 1. 3. 4. 5. Compared to five years ago, the median sales price for houses in Empire Bay has increased 26.2% which equates to a compound annual growth rate of 4.8%. PROPERTIES SOLD LAST QUARTER HOUSES AVERAGE DAYS ON MARKET SALES HOUSES MEDIAN $915,000 HIGHEST $1,950,000 LOWEST $750,000 Source: CoreLogic RP Data 17 March -17 June 2024 2. 48 EMPIRE BAY LEASE MEDIAN HOUSE (3 BED) $665 RENT PER WEEK $900K 20 $1.0M 40 $1.1M 60 $800K 0 2020 2021 2022 2023 MEDIAN HOUSE SALE PRICE NUMBER SOLD 2024
PREPARING YOUR HOME FOR A WINTER SALE Winter can be a great time to sell your home, offering unique advantages. Here are some tips for making a sale in colder months: • P repare for warmth: enhance the cozy appeal of your home to attract buyers. Keep your home warm during open homes & viewings; utilise fireplaces, heat pumps and add warm colours and textures to interior styling, particularly in cushions, throws and bedding. • M aintain cleanliness: winter demands extra effort to tackle mud, moss, mould and leaves from steps, entrance ways, outdoor furniture and decks to ensure your home remains inviting • E nhance outdoor spaces: make your garden appealing with simple updates and demonstrate how outdoor areas can be enjoyed year-round, possibly adding features such as a firepit or outdoor heater. • B righten it up: maximise natural light with clean windows, fully open blinds/curtains and keep the interior well lit to make spaces feel welcoming, and enhance the feeling of energy efficiency. Focusing on these aspects can help your home sell effectively in winter, leveraging the season’s special features. Don’t hesitate to get in touch with us to learn more about how to make your property stand out from the crowd.
YOUR RAY WHITE TEAM Ray White Bensville Shop 5, 32 - 34 Kallaroo Road, Bensville NSW 2251 02 4369 2268 Ray White Empire Bay 2B Kendall Road, Empire Bay NSW 2257 02 4369 6618 raywhitebensvilleempirebay.com.au We are a highly experienced team with a proven record of success Tiffany Mooney SALES 0406 398 432 tiffany.mooney @raywhite.com Lucy Jaggard SALES ADMIN 0433 000 540 sales.bensville @raywhite.com Matthew Kidd SELLING PRINCIPAL 0417 230 732 matthew.kidd @raywhite.com Carley Eder RENTALS PRINCIPAL 0432 945 578 carley.eder @raywhite.com Amee Pigram PROPERTY MANAGER 0402 419 882 amee.pigram @raywhite.com Quinta Jamieson LEASING AGENT 0411 624 887 quinta.jamieson @raywhite.com
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