Resilient market continues to perform

Sustaining the monthly pattern we’ve seen for a 16th month now, Wentworth Point’s median price has risen 0.6% to $748,600, up from December’s $744,300 as we close our highest performing February on record.

This month totalled four more sales than this time last year, with this week alone seeing four properties linked with their new owners - 204/37 Amalfi Drive, Wentworth Point (three bed in Sorrento) 1703/18 Footbridge Boulevard, Wentworth Point (one bedroom with water views) 310/4 The Piazza, Wentworth Point (two bed in Santorini) & 213/24-32 Koorine Street, Ermington (2 bed waterview apartment, exchanged after first open home) 

We’ve noted solid attendance figures over February, bringing 396 groups through our inspections across 29 properties, though when considered against the unprecedented peak of 502 groups last February, this month’s turnout remains 21% lower. 

Comparatively, this February has seen far greater stock levels, dispersing buyer activity across a lot more properties than what was available this time last year. As supply increases, we can expect buyers to take a little more time perusing their choices before acting.

We remain confident it’s still an excellent time to purchase, with the RBA keeping the cash rate on hold at the record-low level of 0.1% this month.

For an in depth overview on how our local market is performing, read our February 2127 Market Report here.

Alexander Chidiac
Alex’s commitment to excellence and the ability to meticulously plan, execute and effectively adapt to change has earnt him an exceptional reputation within the industry.