Throughout Autumn, our office negotiated 30 sales at an average sale price of $766,896. Sales ranged from $395,000 to $1,331,000. Our ‘Smart Sale’ method saw most properties achieve a full price sale or higher, with 10 sales exceeding the listing price. This has resulted in an additional $3,051 in the pockets of our vendors on average. The hallmarks of our ‘Smart Sale’ method are: competitive negotiation strategy, marketing at no cost, and a no sale, no charge guarantee (zero financial risk to the seller).
Over the past 12 months, strong growth has been recorded across all Singleton suburbs. Singleton has seen an increase of $119,278, Darlington $99,828, Hunterview $79,346, and Singleton Heights $68,524. (Source: Cotality)
After this strong period of growth, momentum has eased in recent months. However, the Singleton market continues to present an attractive and affordable price point when compared with markets to the east. Combined with the strong local economy and stable employment opportunities, this should help keep the area relatively insulated from broader market pressures. It will be an interesting watch as we move into the second half of the year.
We are finding that well-presented homes priced in line with the market (rather than at hopeful prices well above market value) are still attracting strong interest and competitive offers. This is reflected in our 14 sales instructed during May.
Average weekly rent growth has also stabilised with a slight increase in the vacancy rate and number of days on market. Our office’s weekly average rent currently sits at $555 per week.
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