Palerang Region Property Report S UMM ER 2023 Courtesy of Ray White Bungendore
For months we have been listening to the press about the catastrophic market collapse and yet couldn’t see that comprehensively in our local market. Recently however, we have felt the tremors of the softer market. We are still showing and selling homes as consistently as always – 23 properties sold since our last quarterly report and a number of properties under offer is in line with a reasonable market. Sale times are lengthening though and some discounting is evident as buyers take back some lost ground. Remembering the later our market feels the Reserve Bank pressures, the closer we are to interest rates flattening out and the likelihood of recovery – the sticking ability of our local market and its resilience has been a good thing for many households. Our local market resilience is no accident, fewer properties on the market has definitely assisted in maintaining prices. Along with being a popular place to live, Palerang has a higher than average proportion of households in the middle to high incomes when compared across NSW. Our proximity to Canberra and its bolstered economy is also a big plus and that’s a good thing because construction and building is our region’s largest employment sector. According to the QPRC community profile – Building & Construction represents 16.27% of our region’s full time employment, that’s nearly a fifth of our local workforce. Public Administration & Safety is the second largest local employment group, then followed by the Healthcare & Social Assistance sector. The two smallest employment sectors in Palerang are Financial & Insurance Services with 135 jobs & Information Technology and Telecommunications with 114 local jobs. 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. Ray White Bungendore 10 Malbon Street, Bungendore NSW 2621 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 Ray White Bungendore Real estate experts with a local feel. (02) 6238 0700 SOLD $1,885,000 SOLD $1,630,000 SOLD $1,570,000 SOLD $1,530,000 SOLD $1,410,000 SOLD $1,400,000 5 Woolshed Lane, Bywong 812 Norton Road, Wamboin 54 Forster Street, Bungendore 19 Lithgow Place Bungendore 34 Hyland Drive, Bungendore 264 Joe Rocks Road, Bungendore
SOLD $1,350,000 SOLD $1,332,500 SOLD $1,275,000 SOLD $1,250,000 SOLD $1,230,000 SOLD $1,210,000 SOLD $1,200,000 SOLD $1,100,000 110 Hogan Drive, Wamboin 49 McCusker Drive, Bungendore 15 Hyland Drive, Bungendore 10 Bluskie Close, Bungendore 13 Bluskie Close, Bungendore 1 McCusker Drive, Bungendore 3 Shanahan Street, Bungendore 19 Sorrell Close, Bungendore
List, sell, rent or buy with us Call us for a FREE, no-obligation appraisal today (02) 6238 0700 SOLD $1,100,000 SOLD $1,050,000 SOLD $750,000 SOLD $710,000 SOLD $635,000 SOLD $585,000 32 Hyland Drive, Bungendore 38a Turallo Terrace, Bungendore 87 Malbon Street, Bungendore 757 Rossi Road, Rossi 9-11 Wallace Street, Tarago 75 Malbon Street, Bungendore
A WORD FROM OUR CLIENTS Professional, patient and full of advice “Ellie and Ava have been absolutely fabulous throughout our selling experience and we would not hesitate to recommend the whole team to anyone wishing to buy, rent or sell in this region. Professional, patient and full of advice, they are local legends in the real estate business.” Steve, Simms Drive, Bungendore Sold quickly and with NO bull! “I was in need of a professional, caring and knowledgeable agent to help with the sale that I could trust. Doug and his team did just that! My property sold quickly and with NO bull! Thank you Doug & team.” Emily, Wallace Street, Tarago Extremely helpful, respectful and professional “After a year of dealing with rude and incompetent agents, Ellie and Ava were a breath of fresh air, being extremely helpful, respectful, and in every way professional, in guiding us through the purchase. Very much appreciated.” Michael, Hogan Drive, Wamboin Well managed, fantastic job “I’ve known Doug for a number of years and know him to be a very pleasant and erudite guy. He did a great job of weighing up the sale price of my property using his extensive knowledge of properties, location and market to suggest a pleasing go to market figure. Doug said he already had potential buyers who would be interested and most impressive was his ‘read’ of the buyer. Doug always returns a call and is a pleasure to chat with, always willing to share his knowledge. Overall the sale process was extremely well managed by Doug, no real effort required on my part. Fantastic job, Doug. Thank you so much.” Martin, Roseview Road, Mount Fairy Friendly and reliable “Ellie and staff at Ray White Bungendore provided excellent and professional service throughout our purchase period. Our various requests and enquiries were always followed up, and all staff were friendly and reliable. We would happily recommend their service to others.” Karen, Sandhills Road, Mount Fairy
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 (02) 6238 0700 sally.hughes@raywhite.com Kate Bender Administrator (02) 6238 0700 kate.bender@raywhite.com Ava Merriman Client Services (02) 6238 0700 ava.merriman@raywhite.com YOUR RAY WHITE TEAM
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