February Real Estate Wrap

Australia is officially out of recession and despite early predictions of 30% property price falls across Australia, prices have been stable. The last few weeks in Sydney has seen auction clearance rates continuously above 70% with many weeks achieving a higher clearance rate than the same time last year.

Looking to 2021, the market is expected to continue to perform very strongly backed by historically low rates and increasing consumer confidence. A relatively low supply of houses in our local area together with this increased demand will underpin process in the short run.

At RRE Properties, we are seeing extraordinary demand for apartment sales in Eastlakes. 2021 will see stage one of the much anticipated Crown stage one development. The area, in my opinion, is undervalued and this solid investment into a new shopping centre will underpin the area’s growth for years to come.

If you have plans to sell in 2021, we strongly suggest getting ahead of the competition by listing early next year. I will be conducting market appraisals over the break and have some exciting new properties just listed for 2021. Please call or email me for your obligation free market appraisal of your home.