One great thing about real estate is that the dynamics of the market are forever changing. As New Farm’s leading agency, we see exactly what’s happening on the front line, month by month, day by day, hour by hour.
Its very interesting to see the latest trends as to what’s happening in the market. All facets of the market are moving, with the office selling properties ranging from $300k – $3m in November. 60% of the transactions took place between $400k – $600k.
This demographic of the property market has been especially buoyant over the past three months, and the high end specifically has seen a positive shift in the past four weeks.
Following yesterday’s announcement by the RBA to cut interest rates by another 0.25%, I have no doubt this will trigger more activity across the board into 2013, as there are now very positive signs that that market is going from strength to strength.
Not only has Ray White New Farm produced a record month for November, but it was great to see a record in the sheer volume of transactions taking place. The market is well and truly alive, and I have no doubt that 2013 will a big year!
Happy house hunting!
Matt & the Ray White New Farm Team