Local Market Update January 2016

If the start to the year in 2016 is an indication for the rest of the year it’s going to be a busy one for the team at Ray White Cheltenham. All departments have been busy with plenty of activity early in what is traditionally a quieter month for the year.

The sales department is enjoying record numbers of open home attendees as a result of a strong listing period just prior to Christmas. The office commanded dominance on the real estate portals and with a distinct lack of available stock in the marketplace were very busy with buyer enquiry. The signs are strong for another very busy and productive year in 2016 with the international economy showing consistent signs, the local economy maintaining strength despite the dip with mining, interest rates tipped to remain constant with even a potential drop mid-year and the supply of homes remaining low. The major factor is immigration and with this remaining strong and supply short, there will remain plenty of pressure on prices.  We may not see the double digit growth we have seen over the last few years but we still expect good growth in prices again this year.

The rental department have started the year the way they intend to continue with a personal best set for lettings in the month of January. Despite the time of year and the many distractions it brings the team have also managed to maintain very low arrears. This is vitally important for the year ahead to send such a strong message.

The office saw some growth in team members this month also with the addition of Lachlan Lyndon and Kade Camilleri to the sales team and Kayla Mc Namara to our admin team. The year ahead looks very promising and we expect more growth in the months to come.

Until next month