Rising demand creates new record price
Houses have continued their strong price growth in this area, with the median now more than $1m. Turnover was also up over the last year as more sellers took advantage of the rising market. The bad news for buyers? So far this year there’s less houses coming to market and those that do are hotly contested.
Apartment demand is also strong especially for older style larger floorplans and 3 bedrooms. Currently local apartments are lasting less than a month on market and again that’s due to not much coming to market for buyers to choose from. We are seeing more investors coming back to market, and that 3 bed demand is from more downsizers wanting to be close to the city.