Last Quarter Update
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Finding the perfect property is harder when there’s a shortage of listings. So you have to search harder. Working with a Real Estate advocate can make a critical difference because I have the resources to find all the best off-market homes for sale as well as on-market listings. Many properties are sold without ever being advertised. And these silent sales also have crucial info about value and price moves in your target range.
The real estate market continues to amaze and bewilder the normal home buyer and seller. If you’re feeling overwhelmed then you’re not alone, the market has a big shortage of properties for sale at the moment, and with increasing interest rates and many people recoiling after a fixed rate. We are seeing less properties on the market, Vendors are more likely to want to test the waters without advertising and try an off market first, only selling if they meet their price expectations.
So this is where we work our magic providing you with options on the best buys and the most secret listings. We all know the market has cooled and my continued advice to sellers and buyers is that simply selling and buying in the same market still achieves you the best result especially if you are upgrading as you reduce your purchase price on a larger valued home and take less of a reduction on your lower priced property. The top end of the market is seeing the reductions in sellers expectations the most. So if you are upsizing it may be the best time to have a chat with us.
Despite hesitancy among some sellers caused by rising interest rates, the opportunities are still there for great buying. With expertise and 30 years of experience on your side, you’ll have the best chance of finding, negotiating, and securing the right property at the right price!
Property Market Report
Last month Beaumaris had 33 properties available for rent and 87 properties for sale. Median property prices over the last year range from $2,110,000 for houses to $1,180,000 for units. If you are looking for an investment property, consider houses in Beaumaris rent out for $900 PW with an annual rental yield of 2.4% and units rent for $500 PW with a rental yield of 3.0%. Based on five years of sales, Beaumaris has seen a compound growth rate of 3.9% for houses and 9.8% for units.