Spring Hill Sales Update: Summer 2017
Spring Hill sales update: Summer 2017
Houses look likely to finish 2016 with a 9% increase in turnover.
There is good news! Spring Hill’s new neighbourhood plan pushes for less demolition and more growth for the established character and heritage filled suburb. All while simultaneously expanding on its principle centre zones emphasizing Boundary Street as Spring Hill’s centre and Astor Terrace as it’s entertainment zone. Bringing people to Spring Hill both day and night.
Houses look likely to finish 2016 with a 9% increase in turnover. This increase has houses holding their value from 2015 and demand is high. The council approvals under the new neighbourhood plan will help ensure the character buildings and homes built pre-1946 will keep their significant elements from roofs to verandas. Keeping Spring Hill a highly sought after area.
Apartment sales continued to show a decline in transaction volumes over the course of 2016, on track for a 31% decrease from 2015. Savvy buyers have had a hard time finding deals as owners have decided to hold onto their investments until the inner city market recovers. At time of writing for example there’s less than 90 apartments available for sale.
Note: our graphs track the sales stats 3 months in arrears only as it takes this long for fully accurate records to finalise.
For an updated report on your suburb or a property appraisal, please contact our Sales Team on 07 3214 6800.
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