This is our final market report for 2016
And It’s beginning to feel a lot like Christmas.
And what a year it has been in the Sydney market place and our local market here, with some homes experiencing growth in excess of 20%
There is no doubt this was another difficult year for first home buyers and those needing to upsize.
A few stand notable sales this year 78 O’Neill Street Lilyfield Sold for $1,585,000 – which previously sold in 2012 for $855,000 – a massive $730,000 increase without any significant work being done.
26 Belmore Street Rozelle sold for $2m – at $200K over the reserve.
15 Hartley Street Leichhardt sold $250k over the reserve
3 Hartley Street sold for $250k over the reserve
5 Belmore st Rozelle one of the last entry level homes to sell this year sold for $1085,000 a very similar home next door sold for $885,000 just 9 months earlier.
Looking to 2017 the rba in their final meeting for 2016 have kept the official cash rate at an all time
Low of 1.5%. And some economists are predicting there may be a possible rate drop by mid next year…

I think we will see a brisk start in January and with some off market sales and some homes hitting the market mid Jan for early February Auctions.
We would like to take this opportunity to wish you a merry Christmas happy holidays joyful and a prosperous new year.

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