News

Local Market Update

ByEleanor Hopkins

The month of April was an interesting one with the Easter break early in the month and Anzac Day towards the end. These holidays disrupted the flow of the month but overall we still enjoyed plenty of great activity for the team at Ray White Cheltenham.

The sales department had some great results at auctions during the month. The market continues to remain strong with low interest rates and a lack of stock available creating the situation of greater demand
than supply. The clearance rate remained around the 80% mark for the month. The team enjoyed results well above reserves on auctions at Bernard St, Macao Court, Eden St and Chaprowe Court during the month.

Open home numbers continued to remain high and we are still in need of new stock in all price points.

The rental department also had a busy month with the new systems implemented over the last few months now starting to take effect. Arrears in particular were at record low levels for the month. It’s always a pleasing time when this occurs and everyone is happy. We also know this is a critical part of the job we have.

Our rental list is also low in numbers with very little coming to the market and quality properties always in high demand.

Until next month

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