We saw an increase of 7% year on year in sales for residential properties with a total of 359 homes sold in May. Demand is still high with fewer properties available thus fueling the upward trend.
Properties are increasingly sold with competitive multi offers or under the hammer. Vendors are stoked with the premium prices fetched for their properties and 40% of listings use auctions as preferred method of sale compared to 20% the previous year.
Well presented properties with high exposure invite strong inquire and prices that surprise many a vendor.
It’s a great time to off load investments and reap the benefits of a vendors’ market.