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Sales Market Update by Sean O'Connor | April 2018

Hi I'm Sean O'Connor from First National Real Estate Wollongong with the monthly market update. As the year progresses is becoming more and more apparent that the number of properties coming on to the market is certainly less than this time than last year. Recent figures indicate that the number of properties coming on the market for sale could be down by as much as 30% on the same period last year whereby the number of buyers also attending auctions and open homes is less than we were seeing we are still finding that the end prices are holding up reasonably well. Sure we are not attracting the premium price that we have in the boom times but the average price has not fallen significantly. There's equal opportunities to both buyers and sellers and we are not expecting any significant fall in prices especially when interest rate remained at an all-time low. At First National Real Estate Wollongong we've had some great results since Christmas that certainly defy the current trends. We recently sold a property a small two bedroom apartment at 48 Smith Street, Wollongong. The property sold for $500,000 which was a great result considering the property next door which was fully renovated and sold in the boom time mid last year for $480,000. So to achieve a high price than the boom times was certainly a great result. I'm Sean O'Connor from First National Real Estate Wollongong with your monthly market update and I hope to see you at one of our open homes over the coming weeks, Thank you.

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