A Market on the Rise

Yet again the real estate market has bounced back from the plateau which saw prices level off around the middle of 2018. The status quo continued for the first half of this year but the last few months have seen consecutive jumps in median house prices and auction clearance rates improve compared to the same time last year.

Anecdotally, we can certainly see this improvement in our own sales rates. Despite fairly limited supply across the whole of Greater Geelong, buyers have been out in force and our auctions have seen some great results for our vendors. And just when you would expect December to quieten down in the lead up to Christmas, the very opposite is occurring with sales jumping considerably in the last 2 weeks. It’s very heartening to go into the Christmas break knowing the Geelong real estate market is so buoyant and that the public continues to view real estate as a solid (perhaps the most solid) investment.

Thank you to all our clients for your custom over the past 12 months. It’s wonderful to have the opportunity to assist people into their dream home, or secure their first block, or conclude a successful sale with price expectations exceeded.

Merry Christmas and all the best for the forthcoming year.

Until next week

Nick Lord (Director)