Local Market Update October 2015

The spring weather has arrived with warmer and much longer days and the spring market has also arrived with plenty of activity for the month of October. The team at Ray White Cheltenham was very busy for the month and achieved some great results too.

The sales department had some excellent results during the month particularly at auction exceeding vendor’s expectations and in some cases agent’s expectations too. Outstanding results were achieved at auctions at Withers Way, Nepean Hwy, Wattle Grove, and Jean Street. We are still seeing plenty of buyer activity and with interest rates remaining low we expect the market to remain strong for the rest of the year. There is still time left this year if you want to list and sell your property before the end of 2015. Media reports are indicating a slowing of the market in other eastern seaboard states but we haven’t seen that here yet.

The rental department were busy as usual with plenty of activity in the month. A record number of routine inspections were done, and whilst these are not the glamorous or exciting part of our week they are a fundamental part of our role and important to ensure we maintain our landlord’s biggest assets. We are still seeing good enquiry numbers and the team had another strong month of lettings. We are seeing plenty of good interest in standalone and modern townhouses and family homes. In many cases we are presenting multiple applications to landlords of these properties. We are seeing more competition and longer days on market for apartments due to the higher volume of them available. Suzanne joins the team in the month of November as we continue to grow our rental team to maintain the high levels of service we demand. Suzanne comes to us with good experience having most recently worked in an inner city real estate company.

Until next month