West End real estate sales update
While prices are definitely down from their peaks of a couple of years ago, buyer interest in West End property remains strong. The new projects along the river/ Montague Rd precinct are holding the median sale price high for apartments, albeit with some discounting on those buildings that had flood inundation in January. The number of sales is very low this year, partly due to the floods and partly the general economic uncertainty. There’s also many local property owners reluctant to sell while prices are down and this may be having the effect of putting a floor under prices. The second quarter’s sales volumes were stronger.
If you’d like a sales market update for your property please call our West End specialist, Rob Honeycombe on 0423 332 022 or 07 3214 6800