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Published on July 27th, 2017

Elders Bankstown – News & Views

News & Views

If like me, you’ve spent your Mondays glued to Game of Thrones you’ll know that ‘Winter has come.’ Thankfully we aren’t saying the same about Sydney Real Estate. Buyer incentives, high demand and holding interest rates are keeping a fire burning under this market.

Buyers have again found confidence in the Sydney market snapping up their slice of real estate with no hesitation. Four weeks of clearance rates above 70% and continued growth in price are great signs for a mid winter market. The typical slump in the colder months has only been seen in the number or properties put to market. With a lower volume of property comes increased competition and this has been evident in Sydney’s results.

First home buyers are finally starting to peek their heads out and take advantage of the governments new incentives. Established units under the $650,000 mark are flying off the shelves and experts are only predicting more growth in the coming months.

Bankstown Real Estate

The Bankstown area saw a bounce back in clearance rates recording an average of 75% for the last three weeks. Stock levels are generally low which has created more competition and has seen buyers fighting a lot harder at auction. These are encouraging results for mid winter auction campaigns and we predict growth coming into spring.

While some agents are feeling the winter chill, Elders Bankstown has achieved a 100% Clearance rate at auction for the last three weeks consecutively. We saw over 7 million dollars worth of real estate changing hands in this period proving that a solid marketing campaign and dedicated agents will achieve solid results no matter what the market is doing. 

Some notable auction results sold by Elders Bankstown:
2/6 Townsend St, Condell Park – Sold by Arthur Arfanis for $856,000
86 The Avenue, Bankstown – Sold by Karem Lakiss and Arthur Arfanis for $1,350,000
13/38 Cairds Ave, Bankstown – Sold by Arthur Arfanis and Greg Hawkins for $610,000
4/180 Chapel Rd, Bankstown – Sold by Greg Hawkins and Elizabeth Frangieh for $480,000
66 Jacobs St, Bankstown – Sold by Karem Lakiss for $1,333,000
25 St Johns Rd, Auburn – Sold by Karem Lakiss for $1,610,000
44 Mitchell St, Condell Park – Sold by George Bechara for $1,046,000

To see a map of auction results for the Bankstown area over the past three weekends click the dates below:
Auction Results 8 July
Auction Results 15 July
Auction Results 22 July

If you’ve been thinking of making a move in the near future, buyers are waiting for properties of all types. For a FREE property appraisal on your home give our office a call on 02 9707 3600.

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