You may be wondering – has the market changed? The biggest change in the Mt Martha market has been a shift in the buyer’s mindset based on the press reporting lower prices and clearance rates in the city market, with the major reason for this being the tightening of lending by the banks. To break this down further, when you look at the fundamentals apart from lending, the biggest historical factor that can change markets is interest rates – and although Westpac adjusted their rates recently, they remain low and aren’t likely to rise dramatically for the foreseeable future. Also unchanged is the healthy Australian share market, strong employment numbers, continued population growth and economic stability.
The last influence affecting a strong Real Estate Market is supply and demand. Currently we have more buyers than sellers for Mount Martha property, which has resulted in a larger number of Off-Market sales. In the foreseeable future we don’t see the Mount Martha market changing. We’re very proud of our achievements for August 2018 with 60% of the $13.2m property sales reported by REIV, sold by the BONACCORDE TEAM. It’s now more critical than ever to have an Agent to represent you who has a proven track record and is able to overcome objections to achieve outstanding results.
If you would like to chat about how we can help you with your property goals, then give us a call on 5974 8900. Or to receive a complete market report email MARKET REPORT to email@example.com
5 YEAR MARKET COMPARISON
How many properties have been sold over the last quarter? 83 81
What is the highest reported house sale price in the last quarter? $3,550,000 $1,850,000
What is the median house price in the last quarter? $975,000 $635,500
What is the average house price in the last quarter? $1,153,102 $744,237
How many properties are on the market? 111
(All care is taken to provide accurate data. Avg House price, Median House Price Calculated on
69 & 79 reported sales from 1/06/18 to 31/08/18 and 1/06/13 to 31/08/13)