West End sales market updates: West End house demand high – Apartments stable
Halfway through the year the statistics are showing once again that houses are still very tightly held in West End and turnover is right down – this is not because they are not selling, it is because we don’t have enough to sell!! The median price is lower than the first quarter as there have been more renovators changing hands rather than fully renovated homes. And we have been seeing demand from both types of buyers. There just are not enough homes available for sale to satisfy demand.
Apartment sales and prices have stabilised. There was a slow start to the year with hesitant buyers before the election, but once this was out of the way, and along with the reduction of the interest rates, we saw a sharp upswing in enquiry levels and commitment from buyers with more apartments changing hands. Along with lower levels of construction in the 4101 location there is a more positive feel to the market.