Local Real Estate news.
The Blue Mountains property market has gone from strength to strength over the last couple of months as city based residents look to relocate to more rural areas as their work arrangements become more flexible.
At Ray White Blackheath & Ray White Katoomba we are currently experiencing extremely high buyer demand resulting in properties being on the market for very short periods of time, with many properties selling after the first open home. We are seeing multiple buyers offering on each property, this competition is pushing prices up well above the owners expectations in many circumstances.
It is a great time to sell. This is the best market that we have experienced in many years. What are you waiting for? Call the team at Ray White to discuss your property on 4787 8797 or drop in and see us at 164 Katoomba Street (next door to Dominos).
National Real Estate news.
Looking at the economy as a whole we appear to be trending better across most sectors when compared to the initial forecasts. The headline unemployment rate – which includes both the short-term and long-term unemployed – fell to 5.6 per cent in March, which is well below Treasury’s earlier forecasts for the unemployment rate to exceed 10 per cent.
Consumer sentiment hit an 11-year high in April, and economists expect the upcoming GDP number to show that economic activity had returned to its pre-pandemic level in the March quarter.
Whilst April 2020 was heavily impacted by the pandemic, the April 2021 property sales by the Ray White Group were over 150 per cent up year on year, with live listings up 100% on the same time last year and loan approvals up 65% on April 2020. The average Auction clearance rate for NSW is sitting at 80%, with 4 active bidders per auction and 94% of properties receiving bids. This shows the resilience of the Australian property market and the confidence that Australian’s have in property as a solid investment.