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Vaucluse Report – Oct 2017
Vaucluse is trending ahead of the wider Sydney market, showing exceptionally strong capital growth in 2017. Property owners in Vaucluse are generally more informed with regard to market conditions and cycles keeping up to date with property values. The savviest of Vaucluse owners have begun to list their properties, taking advantage of this unmatched growth period and the realisation that the impending market growth slow-down will mean reduction of potential capital gains.
Vaucluse 2017 has produced a large number of interested buyers ready to enter the property market, or further their property portfolios. With approximately 25% more views on Realestate.com.au per property than the Sydney average, Vaucluse is an extremely high interest area that has a constant stream of interested buyers poised and ready to compete to get into the market. With interest rates nearing an all-time low, buyers have been greatly incentivised to purchase property, securing favourable mortgage conditions. Coupling this with a shortfall of owners looking to sell in the area, many properties are selling for a price greater than anticipated, due to these elevated levels of buyer competition. With Spring here and Summer just around the corner, many vendors will be listing their property to take advantage of favourable weather and market conditions.
As the listings increase, buyer competition spreads among a larger property base and the high demand benefit diminishes. It is my recommendation that the months of October/November represent the best opportunity to achieve the maximum sale price for your home, taking advantage of these aforementioned market advantages and timing.
Over the past 5 years there has been an increase of approximately $1,300,000 on the median sales price of properties in Vaucluse. Clear growth shown in recent years, beginning to fall off in 2017 as the market begins to peak.
Sales levels in Vaucluse have hit exceptional heights over the past 5 years. From 2008 – 2012 we experienced fluctuating levels of sales, which have since been followed by consistently high sales levels from 2012 – 2017. This suggests that vendors have sought to take advantage of the incredible high capital growth experienced over the past few years, and especially now are looking to list their property while capital values remain at a peak.
Gradual increase of Median Sale prices for Houses over the past 12 months, achieving 8.49% growth in this period.
Gradual increase of Median Sale prices for Units over the past 12 months, achieving 10.14% growth in this period.
The Vaucluse area houses a majority of couples and families, with more than half of all residents fitting this demographic. Trends suggest that couples seek to buy in Vaucluse as both a base to grow their new families, as well as a growth or expansion route to develop their families. With excellent schools, top quality restaurants and a high quality of life offered to Vaucluse residents, many families designate Vaucluse as an ideal family suburb offering endless value.
The Vaucluse market presently experiences high levels of consumer interest. More than 120% of the average number of searches are performed on Vaucluse property compared to that of the rest of New South Wales. As Vaucluse is clearly an in demand suburb, it is likely that capital growth over an extended period of time is highly likely.
Provided to you courtesy of Brad Pillinger.
(Source: RP Data & realestate.com.au)