PALERANG REGION PROPERTY REPORT SUMMER 2024 Courtesy of Ray White Bungendore
The most asked questions: Is the market going to rise or fall? What’s happening with interest rates? When is best to sell? Once upon a time, real estate agents could utilise experience, annual and seasonal trends, and economic intel to ensure sellers achieve the best sale result – it was relatively straightforward. Most agents could get it right. Well, things have changed a bit, the usual suspects like interest rates, comparable sales, immigration numbers, buyer enquiry numbers, and the seasonal trends aren’t enough anymore. Over the last few years, we have watched interest rates rise and for much of this time, many of our property markets have also seen price rises – that doesn’t seem normal. We’ve also witnessed extraordinary net immigration numbers: 518,000 people in 2022/23, although at the same time some rental markets, like Canberra’s for example, have experienced a static market or, even a reduction in rents during this period. Whilst this is a welcome change for many, it isn’t exactly the outcome most expected. The Westpac Consumer Confidence report last month suggested a lower level of confidence across Australia and this usually equates to a flat line in property sales. However, this didn’t happen – sales numbers increased during the survey period. Not every suburb or town is experiencing strong sales or growth, although it is happening selectively across the country. This arm wrestle has been occurring for at least 12 months, and we as a team watch these things closely. We think there is one defining factor yet to influence the market - and it could be a knockout punch. As of February 2024, the ANZ believes rates have peaked, and the CBA and NAB believe rates will drop by Sept 2024. This will surely pique... and possibly even peak the interest of buyers locally, and across the country... we’re watching, so call us if you would like to know how this may benefit you, and your property sale. WHAT’S HAPPENING IN OUR MARKET?
Are you curious to know the new value of your property in today’s market? Request a free market review and we’ll provide you with an area profile, recent sales and listing activity and more. Ava Merriman 0429 517 003 ava.merriman@raywhite.com Doug Merriman 0419 999 001 doug.merriman@raywhite.com HOW MUCH IS MY PROPERTY WORTH? Contact us to arrange your obligation free market appraisal 6238 0700 | bungendore.nsw@raywhite.com SAMPLE SAMPLE SAMPLE Ellie Merriman 0402 117 877 ellie.merriman@raywhite.com
OUR RECENT SALES IN YOUR AREA SOLD $1,340,000 SOLD $750,000 SOLD $1,290,000 SOLD $1,655,000 SOLD $1,240,000 SOLD $1,350,000 7 Nelson Terrace, Bungendore 54 Duralla Street, Bungendore 11 Gardiner Street, Googong 1183 Norton Road, Wamboin 258 Radcliffe Circuit, Carwoola 12 Durran Durra Place, Durran Durra 4 2 2 3 1 1 4 2 2 4 3 6 3 2 4 6 2 7
SOLD $1,610,000 SOLD $1,450,000 SOLD $840,000 SOLD $440,000 SOLD $1,647,000 SOLD $1,853,100 11 Reardon Place, Bungendore 256 Radcliffe Circuit, Carwoola 5 Scott Street, Bungendore 4 Strathmore Place, Bungendore Proposed Lot 3, Gidleigh Lane, Bungendore Proposed Lot 2, Gidleigh Lane, Bungendore 5 3 2 4 2 6 3 2 2 Land Land Land
SOLD $1,280,000 SOLD $1,650,000 SOLD $1,675,000 SOLD $555,000 SOLD $1,840,000 31 Bernallah Close, Carwoola 43 Bingley Way, Wamboin 22 Elmslea Drive, Bungendore 17 Rosella Place, Bungendore 514 Denley Drive, Wamboin Like to know what your property is worth? Call us for a FREE, no-obligation appraisal today (02) 6238 0700 4 1 4 4 2 3 4 2 5 Land 5 2 5
A WORD FROM OUR CLIENTS “Ellie was friendly, knowledgeable, professional, effective and efficient. She provided an excellent service and we received the price we expected.” John Sheridan, Carwoola “Doug was great. Communicated well and was honest. He achieved a great result in a short amount of time.” Marcus Harris, Bungendore “Ellie Merriman was great - was responsive to communication be it telephone, text or email and was always a pleasure to deal with. She provided honest commentary and insight on properties and areas we were looking at.” Bruce Payne “Ava was really lovely to deal with in all respects of this recent sale. She is very knowledgeable of her market and is very enthusiastic. She is an excellent agent and I would highly recommend her to anyone buying or selling in the region.” Colin, Bywong
Ray White Bungendore 10 Malbon Street, Bungendore (02) 6238 0700 bungendore.nsw@raywhite.com raywhitebungendore.com.au Doug Merriman Principal/Sales Licensed Real Estate Agent & Stock & Station Agent 0419 999 001 doug.merriman@raywhite.com Ellie Merriman Principal/Sales Licensed Real Estate Agent & Stock & Station Agent 0402 117 877 ellie.merriman@raywhite.com Sally Hughes Office Manager Licensed Real Estate Agent 0413 952 297 sally.hughes@raywhite.com Brooke Ellis Sales Administrator 6238 0700 brooke.ellis@raywhite.com Ava Merriman Sales 0429 517 003 ava.merriman@raywhite.com YOUR RAY WHITE TEAM
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