We’re seeing a clear rise in demand for pre-market sales. More and more buyers are enquiring about pre-market opportunities and asking to join mailing lists. A period of high interest rates and limited borrowing capacity led savvy buyers to seek out opportunities early and beat the crowds.
For sellers, advertising a property pre-market to database contacts and buyers agents offers key advantages:
– flexible timeframes,
– decreased marketing costs
– greater anonymity
Increasingly owners are engaging agents early while properties are still tenanted or undergoing works. Or they may be living in the property and wish to hear from buyers before launching a full marketing campaign with open homes.
Activity in pre-market sales is on the rise. It’s how you manage them that makes the difference.
Call me to learn more.
– Peter Aloupis, Licensee/CEO
MARKET UPDATE
National dwelling values rose by 0.6% in July, a sixth straight month of gains. The positive inflection aligns with the first rate cut in February (Cotality).
With the median dwelling price in Sydney now $1,228,435, we’re increasingly hearing from buyers relocating to Newcastle to raise young families. In the Newcastle Local Government Area, the median property price was $950,000 in July.
Locally, sold properties rose across all four LGAs in July, noticeably higher than in previous years for Maitland and Newcastle.
*Local data sourced from realestate.com.au
MONTHLY HIGHLIGHTS
- Unit block sold pre-market to a database contact – 1-8/31 Kitchener Pde, The Hill – $2,800,000
- Darby St retail and residential building, Gilronan Court, sold for $2,950,000 – 1-4/148-150 Darby Street, Cooks Hill
– Offers from 4 parties
- Watt St apartment sells for $1,650,000 in 22 days – 301/46 Watt St, Newcastle
– Originally purchased for $1,180,000 in Apr 2021. Over the holding time of 4 years, the annual growth for this property was 8.19% (Domain Building Profile).
– Offers from 3 parties
- Sold in 20 days – One bedder 5/112-116 Tyrrell St, The Hill – $645,000
Sold pre-market for $1,090,000 – 44 Carolyn St, Adamstown Hts