Autumn Market Update
Most were glad to see the back of a very hot summer, with it closing out on February 29 after a hot 42-degree day with a huge electrical storm.
The market took a month to warm up in 2024, after a relatively quiet January. This was then followed up by a busy February which consisted of 33 transactions.
Rental demand remains strong, always a good litmus test for the selling market, and investor enquiry has returned.
With talks of easing interest rates mid-year, there are encouraging signs for the remainder of 2024.
Similar to most NSW markets, ours remains stable, with a 0.8% increase in housing values throughout Summer in the 2330 postcode. The strong interest continues on properties up to $800,000 and we have seen excellent demand in the duplex market which sits around the $500,000+ mark. The continued activity of the first home buyer and the emergence of the retiree looking to downsize are playing major roles in driving the duplex and low maintenance residence demand.
Further positive signs, with investors back looking at vacant land for duplex development.
Some of our highlight sales throughout Summer:
- 4 Carroll Street, Singleton which sold for a street record $1,320,000! One of the largest residential sale prices in Singleton's history.
- 6 Eyre Close, Singleton Heights which sold for $775,550. $7550 above the listing price after 7 inspections and 2 offers.
- 1/5 Lambkin Street, Hunterview which sold to a first home buyer for $540,000 after only 1 day on the market.
We were also appointed to sell Stage 2 Bella Ridge
A cul-de-sac residential release off Gardner Circuit near the pre-school of just 22 lots. We now offer both major residential land offerings in the Heights and Hunterview. Prices start from an appealing $359,000 at Bella Ridge and just a few remain from $410,000 in the impressive Bridgman Ridge Stage 8.
If you're looking to build in 2024, get in touch today!
All current available properties - CLICK HERE
Latest leased properties:
- 59 Hambledon Hill Road, Gowrie - $700 per week
- 90 Gardner Circuit, Singleton Heights - $640 per week
- 6 Robinson Way, Singleton Heights - $550 per week
Our average weekly rental currently sits at $462 per week, up from $450 at the beginning of Summer.
Click on the link below for your 2024 Autumn booklet with more information!
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