Samford Market Up Date

The first quarter of the financial year for housing has been mixed throughout the country, with markets up and markets down over the last 12 months.

The city with the largest growth over the last 12 months has been Melbourne, followed by Darwin and Brisbane.

For once Sydney has come in fourth as the market there continues to slow but still with positive growth. Adelaide and Perth both saw drops in average price values with the trend appearing to continue.

With interest rates still tipped to fall further over the coming months, how do we see the Samford and surrounding areas performing over the spring and summer months?

Well the last year for all homes sold within the last 12 months (56), the median price of a home has increased to $895K up from $875K. This is a rise of 2.3% over the year, just above inflation 1.7%.

The number of home sales has so far reduced to levels last seen in 2008-2012, showing that price growth is still occurring and may be as a result of fewer homes for sale rather than high demand.

The prime price range for homes that have sold is between $800-$900K by far making up a third of the market sales. Followed by properties in the $900K – $1.2K value. Properties above this value make up about 10% of the sales over the last 12 months.

The historical period for sales for Samford starts in March through to a peak in September, falling back to a low in October and then having a smaller peak in November.

So in conclusion with interest rates still predicted to go lower the market will at least continue with price growth tracking inflation or just above. The current lower buyer activity and fewer homes for sale will enforce that position going forward.

So to ensure you are getting the best return when selling then you may wish to consider Fox & Co’s current special offer due to end soon, call our office for more information.

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