News

What happened to the market in January 2020?

By Jessica Ridder
The Upper Blue Mountains are open for business, in fact we already have 15 properties under offer since the start of the year, this momentum does not appear to be slowing down with multiple offers on properties and high numbers of attendees at open homes over the weekend.
Our next auction will be held on Friday the 13th March at 6pm at Blackheath Golf Club, please note the new time of 6pm.
For a more detailed Market Report for your suburb please call the office on 02 4787 8797 or email jessica.ridder@raywhite.com
National real estate highlights.
The Australian property market looks set to keep rising in 2020, according to Domain, and will continue to be buoyed by lower interest rates and improved lending conditions, but price gains could peter out by mid-year.
Last year ended on a high after the fastest turnaround in history with high prices and good clearance rates. Sellers and buyers can expect more of the same for at least the first six months of the new year.
Sydney and Melbourne will continue to lead the recovery in 2020, according to Ray White NSW chief executive Jason Andrew.
“We’re seeing phenomenal activity right across Sydney but even into the summer … the results are flowing on quite incredibly,” Mr Andrew said. “We see no reason for that slowing down into the new year.”
He said Melbourne is mirroring the harbour city but it is not as strong a rebound.
“[Sydney and Melbourne] prices haven’t rebounded back [to] previous heights and I can see them rolling into next year with people confident they aren’t over-paying.”
Mr Andrew said the second half could also yield strong results if more homes are not added to the market in winter.
“It might continue that momentum; then we might be in for a fabulous 2020 … [or] it might just be an okay winter and plateau towards the end of the year.”
Bushfire Appeal.
Australia’s real estate industry is united in support of our bushfire affected communities.
Ray White and other industry brands are helping to raise funds directly for charities on the ground in bushfire regions. Our charity efforts as part of our contribution to Beyond the Bricks will be donated to the Salvation Army Disaster Appeal.
All money raised is used to connect families in need with generous homeowners in the area to provide temporary accommodation, as well as to give immediate relief and support to the brave firefighters, emergency workers, evacuees and communities by providing meals, bedding, care packs and cash grants.
Every donation counts! Thank you for your contribution.
www.beyondthebricks.com.au/raywhite
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