There’s a bit of a ‘Mexican stand-off’ happening in Spring Hill’s real estate market. The numbers of sales are very low, even lower than during 2011 (which is hard to do). We had just 3 house sales during the first 3 months of 2012 and apartment turnover is also down slightly. Buyer enquiry is strong but there’s very little for sale – for example at time of writing there are just 13 houses listed and apartments are also in listed in fairly small numbers.
Buyers seem to be waiting for prices to drop but there’s few forced sales and, if anything, we’ve seen some quality apartments sell at better prices than might have been expected due to the relative shortage. We recently made an apartment sale at the full asking price in the 2nd week of its campaign – because we had 3 buyers all looking for “the one” and prepared to compete to get it.
If you’d like an update on the market for your property please call our sales team on 07 3214 6800 or email email@example.com
(note: It can take 3 months for sales data to be fully recorded by the government so we produce our graphs 3 months in arrears. This means the stats aren’t as fresh but are fully accurate.)