Local Market Update December 2015

The month of December brings an end to the year and also the end of our first year of the new ownership of the Ray White Cheltenham office. The month was very busy in all departments and continued the strong marketplace that was in place for the whole year. Buyer demand was strong, stock levels low and this was also reflected in the rental market too.

The sales department had a great finish to the year with an amazing auction result at 5 Wembley Ave by Belinda. The property sold $100,000 over reserve and understandably the vendors were very excited. Kevin was also busy with a number of sales and the team listed well with stock to hit the marketplace in the early parts of 2016. This will provide a great start to the New Year and ensure the team is busy from day 1. The tightness of stock is still the biggest issue facing agents and buyers.

The rental department had a busy but consistent month with letting numbers down slightly.  This was a reflection of the reduced stock levels but we have also listed well in the rental department and will have much healthier stock levels at the start of 2016. Arrears was also a focus for the month and our numbers continued to drop. As we know low arrears makes happy agents and happy landlords too.

Overall the year was very busy with plenty of changes in the business in our first year. We look forward to continuing to improve our service in the months to come and implementing new ideas with new technology and improved structure.

Until next month