As the Ku-ring-gai housing market starts to tighten for the end of the year, more and more properties are selling prior to their scheduled auction as owners opt for taking offers.
Out of 25 properties scheduled for auction in Ku-ring-gai on the last Saturday of spring, 10 were sold prior, 7 were sold at auction, 3 were withdrawn and 5 were passed in, as well as numerous auctions postponed.
The Reserve Bank of Australia’s decision to leave the cash rate unchanged at 2.5 per cent promises to keep the market busy over the traditionally quieter festive period, yet November 2014 falls just behind 2013, with 251 properties sold in Ku-ring-gai, compared with 277 in the same month last year.
Based on data recorded by Realestate.com.au, spring wrapped up with 2015 property sales in Ku-ring-gai to the end of November 2014.
Listings in the area remain steady as we move into summer; however fewer new properties are coming on the market, which rings true for the time of year.
While some buyers are in a pre-Christmas rush, desperate to secure a new home before the Christmas holidays, others are calling it quits for the year.
What’s hot in Ku-ring-gai this month?
Ever-popular north-facing, full-brick or brand-new homes, level-land and quiet streets. The strongest current demand between $1.4 – $1.8million.