News

What happened to the markets in June 2018?

ByJessica Ridder
Despite the retraction in Sydney house prices over the last quarter the Upper Blue Mountains property market appears to be holding strong. Notably Wentworth Falls has jumped 3.6% followed by Katoomba recording a 3.3% increase in median house prices in the first quarter of this year.
The standout sale in Blackheath so far this year was by Peter Torok of Ray White for the sale of 174-184 Shipley Rd, Blackheath for $2,410,000,  a price record for the Upper Blue Mountains. The property was sold ‘Under the Hammer’ at Auction for $410,000 above the reserve price.
In regards to vacant land, there is still limited land available in the Upper Blue Mountains, but the land on the market is generally a good size, over 1000m2. There was a total of 29 blocks of land sold in Katoomba in 2017 with an average sale price of $312,000 and an average land size of 1507m2. There is more land available in Blackheath as the result of two Sydney Water land releases. Blackheath saw 46 blocks of land sold in 2017 with an average sale price of $289,516 and an average lot size of 1322m2. So far this year we are seeing buyers favouring blocks closer to town in established areas, they are happy to pay a premium if the block is within walking distance of town.
You can feel confident that the market in the Upper Blue Mountains is still very buoyant with high levels of buyer activity, strong Auction clearance rates and low days on market.
For a more detailed Market Report for your suburb please call the office on 02 4787 8797 or email jessica.ridder@raywhite.com
Up to Date

Latest News

  • What happened to the markets in June 2019?

    Upper Mountains real estate market highlights We have seen growth in the local real estate market over the last 2 quarters. The standout suburbs are Blackheath showing 8.3% growth & Medlow Bath showing 4.3% growth in property prices since the beginning of this year. Clearance rates are also up in … Read more

    Read FullPost

  • What happened to the market in April 2019?

    Upper Mountains real estate market highlights The Upper Blue Mountains real estate market is still moving well. We brought 10 new properties to the market in March and we sold 9 properties. The highlight for the team at Ray White was the sale of 123 Govetts Leap Road, Blackheath, also … Read more

    Read FullPost