$600M promised for stage 2 light rail construction

The market is making gradual adjustments, and in doing so is bringing a sense of much needed balance back into the picture. In our May 2127 Market Report, we closely examine what our year on year data is telling us, and cutting through the minor softening occurring, there is certainly a story of greater choice, access, and fairness to be told.

We exchanged 704/7 Stromboli Strait this week, a two bed in St Tropez which attracted 11 buyer groups at its first off market inspection, and sold shortly after.

Our sustained off market success is a strong sign that buyer sentiment remains positive, leaving serious buyers with ample opportunity, and the luxury of choice in their purchasing plans.

May recorded a minor decrease in Wentworth Point’s median price, while our sales movement followed suit. We exchanged 12 properties over May- half of which were off market transactions, as the market landscape proved to be a very different one, with new listings currently 75% higher. 

This supply increase provides a more holistic perspective on our sales activity, demonstrating that similar levels of transactions are in fact still occurring, and some price shifts are to be expected in a market where buyers are presented with more variety and less intense competition.

Read more on what the current market is offering buyers in our May 2127 Market Report, here.

We now have certainty on Stage 2 of the Parramatta light rail construction with the NSW Government yesterday announcing it will set aside $602.4 million in June's budget for second stage construction to commence, linking Parramatta CBD to Wentworth Point in a key piece of infrastructure that will enhance the accessibility and ease of transportation for all 2127 suburbs.

The majority of our new listings this week are far reaching across Sydney from Ryde to Warwick Farm, Homebush and Bankstown, offering buyers a variety of locations and lifestyles to match, no matter your needs.

See them all here.

 

Alexander Chidiac
When it comes to dealing with buyers and sellers in Wentworth Point, Rhodes, Newington and throughout this part of the inner west, Alex enjoys an exceptional reputation earned from over 10 years’ experience in the industry.

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