Palerang Region Property Report SUMMER 2024/25 Courtesy of Ray White Bungendore
Two months into the new year and our team is back into the swing of things. We’ve been busy has long been a catch-phrase, and boy, do we mean it. Over summer the market has been experiencing a period of adjustment, and we’re seeing noticeable month-to-month changes in averages. The median house price in Bungendore has come back, now sitting just below a million dollars at $990,000 (Pricefinder). Lifestyle properties are still performing quite well, due to limited stock, but have also seen a decline in sold prices. With a state-wide decline in median house prices, where is the market heading now? We wish there was an easy answer. For owners, ongoing demand and limited supply could help to stabilise the market over the next few months. One thing is clear, for those who are selling now, a strong sales strategy is important. Making improvements to the property before you go to market is another important step under current conditions, things like attending to gardens, freshening up the paint, and fixing any bits and pieces that aren’t quite right are essential. For buyers, is it your time now? For those buying for the long term, you may find you can buy at a discount compared to previous highs in a market that still has strong rental demand and good long-term growth potential. The population growth we’ve experienced in Bungendore and our proximity to Canberra continue to support our growth potential, and we certainly see this day-to-day as we meet purchasers looking to move to the area. If you’re making big decisions about buying or selling in the current marketplace, our team is more than happy to help. Whether you’re looking for an appraisal to understand your property’s value or you’re considering buying and struggling to find the right home, feel free to get in touch with our office. WHAT’S HAPPENING IN OUR MARKET?
OUR RECENT SALES IN YOUR AREA SOLD $1,550,000 SOLD $825,000 SOLD $945,000 SOLD $429,000 SOLD $1,800,000 SOLD $990,000 84 Canning Close, Wamboin 2 Flynn Place, Bungendore 14 Forster Street, Bungendore 4 Nelson Terrace, Bungendore 14 Elmslea Street, Bungendore 10 Falconer Street, Bungendore 4 2 2 4 2 2 Land 4 2 6 4 2 3 4 2 2
OUR RECENT SALES IN YOUR AREA SOLD $624,000 SOLD $1,020,000 SOLD $736,000 SOLD $1,690,000 SOLD $630,000 SOLD $730,000 61 Malbon Street, Bungendore 6 Mckay Drive, Bungendore 87 Malbon Street, Bungendore 80 McDonnell Drive, Bungendore 344 Lilyvale Road, Boro 3 Schardt Street, Captains Flat 4 2 2 3 2 5 Land 6 3 2 2 1 3 1 1 4
MARKET STATS FOR 2024 HOMES SOLD Bungendore Wamboin Bywong Mount Fairy Mulloon Carwoola Tarago 86 20 11 4 4 21 7 MEDIAN SALE PRICE Bungendore Wamboin Bywong Mount Fairy Mulloon Carwoola Tarago $990,000 $1,650,000 $1,790,000 $1,110,000 $1,105,000 $1,550,000 $899,000 PEAK SELLING MONTHS Bungendore Wamboin Bywong Mount Fairy Mulloon Carwoola Tarago June July August – August August April SUBURB GROWTH Bungendore Wamboin Bywong Mount Fairy Mulloon Carwoola Tarago -5.7% 8.2% 11.9% 21.3% 356.3% 4.7% -3.1% Source: Pricefinder, data obtained 14/02/2025
A changing market means a changing property value. Curious to know what your property is worth in the current market? Ellie Merriman 0402 117 877 ellie.merriman@raywhite.com Doug Merriman 0419 999 001 doug.merriman@raywhite.com HOW MUCH IS MY PROPERTY WORTH? Our appraisals are on the house. Get in touch with us today. Ava Merriman 0429 517 003 ava.merriman@raywhite.com Ray White Bungendore 6238 0700 10 Malbon Street, Bungendore NSW 2621
A WORD FROM OUR CLIENTS “Ava was very communicative and kept us informed every step of the way. She answered all my concerns and worries with great compassion and explained every step in detail. Would highly recommend her services to anyone selling a home.” Suzie, Seller in Bungendore “Ellie is clearly a local expert, warm, friendly and an all round good human. Ellie and her team managed a very challenging sale process for our family and made excellent recommendations for trades to get the house ready for sale. Always responsive and available I couldn’t ask for a better service from Ellie and Ray White Bungendore.” Julie, Seller in Bungendore “Ava’s knowledge, experience and superior presentation were key to the successful sale of our home. Ava is exceptional with remembering detail, and that means nothing is missed which is so important in achieving the best sale. Her genuine personality makes her very popular with everyone involved.” Darrin, Seller in Bungendore “We chose Ellie because she has a great reputation. She is knowledgeable, honest, has compassion and is very fair. She is an excellent communicator and has a very professional and supportive team. Ellie does a fantastic job. We felt well informed and well looked after through the whole process. We would warmly recommend her.” Ann, Seller in Wamboin
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 Ava Merriman Sales Licensed Sales Agent 0429 517 003 ava.merriman@raywhite.com YOUR RAY WHITE TEAM Grace Tobler Client Services 6238 0700 grace.tobler@raywhite.com Erin Harris Client Services 6238 0700 erin.harris@raywhite.com
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