Highgate Hill’s 2009 volume of house sales has so far dropped by 35% on last year’s turnover with a 9% decline in the median price – lower priced property is on the move which pulls this figure down. See the graphs below for the year to June 30th.
The apartment sales chart decline was even steeper with a reduction in turnover of 51% and a reduction in the median sale price of 34%. A lot of this has been spurred along by first home buyers grabbing the $14,000 grant which resulted in more lower priced properties selling.
Apartment buyers looking around the current median of $360,000 seem to be buying well – if they can convince local home owners to sell! We’re hearing a lot of potential sellers say they’d love to move to a larger home but want to stay in Highgate Hill – if only they could find the right thing.
It’s not all bad news though … one of the most recent sales was a house in Strath Street on 448m2 selling to a developer/renovator for $1.5million. More owner-occupiers made this area their home whilst investor enquiry starts to return to the market.
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