From a real estate perspective, 2016 finished just the way it started, in that the market was consistently strong in our local area. December is usually a relatively quiet month for sales, however, this past month was definitely one to remember. Results were fantastic on their own, which I’ll go over shortly, however, my team sold 13 properties in December which included 3 selling off market prior to being advertised this year.
In December, 101 Bowden St, Ryde was sold by McGrath for a residential sale record in Ryde at $3,800,000. This price was an incredible $1,000,000 over the reserve! For this result to occur so late in the year really highlights the strong demand for Ryde properties in the current market.
2017 will start off with a bang on the real estate front as we are already taking buyers through properties that are off market and have 7 homes prepared to go to auction in February. From what we’re hearing from buyers at present, the only negativity around buying is the chance of an interest rate rise. As we’re already aware, if the supply levels rise then there will be more properties to choose from which can potentially slow down the local market.
Regardless, it does look like it’s going to be a great year to capitalise on your real estate situation. If one of your goals this year involves something to do with your property, whether it be updating your current home or having a tree change, feel free to contact me.
I hope to help where I can and best wishes for 2017.