Real Estate Roundup Insights Reveals Steady Market Ahead
Here are some interesting reads that I have picked up over the last couple of weeks. I have found there is a bit of scaremongering happening around real estate at the moment but most of these claims have been ill founded.
Most experts are claiming a conservative growth over this year. I can see Toongabbie and it’s surrounding areas continue to grow but not as the huge price growth that we’ve had last year.
I have found it interesting, that in a Commonweath bank article they are now suggesting property around Pendle Hill and Wentworthville. They think this a new hotspot, but we think this has been a hotspot for sometime. We are definitely still seeing a large steady amount of home buyers come through our open homes.
This article is more about a sub market in the inner west of Sydney but still an interesting read. I guess that would affect their market if they have a large percentage of bankers in that suburb.
I was reading an article by a US economist that claimed Australia was in a bubble, and we were going to loose half of our property values. I even started to believe this property bubble myself. Until I read this article by Michael Yardney. He dispels this claim and offers an explanation that is quite clean cut that makes perfect sense. I believe we have a strong market based on good economic fundamentals, you should definitely read Michael’s article to get a deeper understanding.
I found this article spike my curiosity because every single article in the media is saying how well the market is doing, so it’s interesting to find a different take that says the market may not be doing as well as we think.
When I talk to buyers that are looking to get into the market say, “that prices are gone way too high”. The findings of the survey definitely make sense. This does not suggest the slowdown in the market, but I don’t think we will see the 12% growth in prices that we saw last year.
I still think we are set for a huge year, as people still have money to spend and the price range around the Seven Hills area is still very affordable with the low interest rate. The market has maintained the fast pace we saw towards the end of last year, with many buyers still looking for their dream property.
As proof of the New Year keeping pace and staying positive, the first week back we saw 18 Pendle Way, Pendle hill attract a massive 82 buyer groups at the first open home resulting in a superb sale price of $68,000 above the asking price. Another property at 12 Knox Street Pendle Hill saw close to 50 parties attend the first open and a sale at a massive $101,000 above the asking price.
About Jhai Mitchell
Jhai is an award winning Internet Marketing Real Estate Agent for Elders Toongabbie and Kings Langley. After running his own internet marketing business he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to market themselves online. Jhai is now fixed on one goal. To teach real estate agents that they can market online so much better than they currently are.
Since then he has been consistently quoted in the Sydney Morning Herald and Real Estate Business online. He is a regular guest blogger on TheHomePage.com.au, sharing his expertise of marketing aspects for the Real Estate Industry. His biggest passions are his wife, martial arts, dogs and most of all property.