It has been one of the highest performing weeks we’ve had all year with four properties exchanged, bringing our March momentum to a total of 14 sales, with almost a full week left to go.
Properties are leaving the market just as quickly as they’re arriving, and our team is working collaboratively and effectively to support buyers and propel sales in the very fast paced, current market environment.
Of this weeks’ successes is 603/16 Corniche Drive, secured by newly married first home buyers. With a well researched understanding of different suburbs’ living potential, the couple felt confident to move quickly on an offer, competing with multiple buyers to make the three bedroom Wentworth Point apartment theirs, after it spent just one week on the market, selling for $1,002,000.
Significant buyer demand for three bedroom apartments is increasing as families invest in the room to grow, and people prioritise versatility in their combined live/work spaces. There continues to be a very limited supply of apartments this size available, and this is expected to sustain the very strong competition and rapid pace we’re currently working with.
The annual REA Insights Housing Market Indicators Report was released late last week and confirms just how much property sales have positively shifted since last year. Sales volumes have jumped by a third already this year, experiencing a 33.2% increase over the first 11 weeks of 2021, compared to the same period last year.
Currently, the national sales volume is sitting 41% higher against 2020’s performance levels, with unprecedented demand and supply shortages contributing to the unseasonably high transaction activity.
