Sales Update

The amount of properties for sale is starting to decline. Seaforth from 42 to 35. Balgowlah Heights 12 to 8. The number of sales over the last month has also fallen with only 5 in Seaforth, and 3 in Balgowlah Heights. Lower than the 8 and 5 in respectively for April which had Easter, school holidays and ANZAC Day which is usually makes it much slower.
We are seeing less buyer activity and as a result of that many sellers are withdrawing their properties for sale, which then results in less choice for buyers and more stable prices. On the back of a softer market my thoughts are that there is some excellent buying opportunities to be had at present. In news for mortgage holders’ unemployment rose from 4.3% to 4.5% in April and the monthly inflation figures fell in April to 4.2% from 4.6% in March. These numbers would give the Reserve Bank pause on future interest rate rises. 

We have had a busy week and have 2 great apartments for Auction both open for inspection tomorrow. As always if you are looking at moving please let the team know. We would love to help.