January presented the challenging combination of an extended holiday period and the biggest covid outbreak we’ve seen. As people return to work and case numbers stabilize, buyer activity has already begun to reflect the return of positive sentiment, with movements beginning to pick up again as we prepare ourselves for the likelihood of a stronger February.
We connected four buyers with their new homes in January, spanning across the suburbs of Wentworth Point, Meadowbank, and Cabarita, including two first home buyers who have made their home ownership goal a reality early in the year.
Just three days into February, we’ve exchanged two properties with 802/2 Waterways Street, Wentworth Point secured after its first open home. The apartment attracted great competition, drawing offers from three separate buyers who fell in love with its privacy and parkland views. We also exchanged 118/45 Amalfi Drive, Wentworth Point (two bedroom with courtyard apartment in Corsica) before it was listed, as our second off market transaction so far this year.
As our strongest buyer cohort, we may see first home buyers continue leading sales this year, amidst market conditions that continue to offer exceptional value to those looking to break into the market and growing area.
Wentworth Point continues to flourish as it recorded its 15th consecutive, monthly median price increase this month, rising 0.2% to bring property values in the area to $744,300, up from $743,000.
In the wider market, Australia's property market has recorded the highest annual rate of growth since 1989 according to new CoreLogic data, showing that in the 12 month period from January 2021 to January 2022, all dwelling types experienced an annual growth rate of 22.4%.
Want to know more about this month’s market’s activity and growth in our surrounding suburbs? We cover it in our 2127 Market Report, here.
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