Property News

Want to get more than you paid?

By Kim Gamaroff
30/09/2019

Well it appears more than 90% of Ku-ring-gai sellers are exchanging their homes for up to $700,000 above their purchase price, according to CoreLogic’s latest Pain and Gain report.

Long-term home owners are the ones benefitting the most from the housing market’s recent recovery, which has helped push prices up again after a nearly two-year downturn.

However, this ‘downturn’ doesn’t seem so harsh when recognising the benefits many homeowners are still reaping from the housing boom between 2013 and 2017, which pushed prices by nearly 60%.

With prices like these it’s no surprise sellers are jumping on the idea to sell their homes for unprecedented prices with overwhelming profits!


Can you get more for your home?

By Kim Gamaroff
23/09/2019

Sydney home owners and sellers are slowly becoming more aligned as price changes reach their lowest point in 18 months.

The median discount on a house across the city in August was $30k, down on $140k in August last year. Vendors are now revising by significantly smaller amounts, suggesting increased buyer demand and vendors being more attune to market conditions, suggests Domain research analyst, Eliza Owen.

Agents warned much of last year of the need to be more realistic of selling prices, and can now rest easy knowing the market has answered itself.

This is great news for all those home owners who held off from selling when the market bottomed out at the start of 2019, and is now about $100k short of Sydney’s all-time peak. Despite this, agents warn vendors not to get ahead of themselves as market momentum and lack of new stock continues to trend.


Is now the perfect time to downsize?

By Kim Gamaroff
09/09/2019

Is now the perfect time to downsize?

Well, it seems most of Sydney’s North Shore thinks so.

On Saturday, a three-bedroom townhouse in Neutral Bay sold at auction to a downsizer for $2.11 million, from a price guide of $1.8 million.

Realestate.com reports that 240 groups inspected the newly renovated property during the campaign, and a staggering nine buyers registered to bid on the day.

Demand for such properties has increased incrementally, with agents all over town noticing plenty of buyers but not enough stock.

Competition amongst buyers has even led to an under 100 hour sale of a 5 bedroom property in Pymble. The listing was so sort after that the keen buyer requested access to inspect the home before the first open.

The offer of $2.5 million was accepted and has encouraged an array of home owners to question whether it’s the perfect time to sell the family home and downsize within the area.