Sydney real estate to get early Easter present
Sydney, NSW (10 January 2018) With Santa still packing away his sleigh and tinsel, the earlier arrival this year of his colleague, the Easter Bunny, is set to boost activity in some Sydney real estate markets, according to leading real estate group, Raine & Horne.
“Good Friday is 30 March, and the relatively earlier Easter break will bring forward the property plans of many buyers and sellers seeking to beat the holiday deadline,” said Paul Pettenon, Principal of Raine & Horne Concord.
The number of properties that have been listed for sale in Concord, Concord West, Breakfast Point, Abbotsford and North Strathfield, in late December 2017 and early January 2018, is 5% higher than the same time last year, noted Mr Pettenon.
“More vendors want to secure sales before Easter, and this activity is underpinning our confidence that Inner West real estate will enjoy a strong first quarter in 2018.”
On the Lower North Shore, owners have recognised the early Easter deadline and that after almost six years of robust capital growth, the time has arrived to realise some capital gains, according to David Hill, Co-Principal of Raine & Horne Crows Nest.
“Some properties in Crows Nest, Wollstonecraft, and Waverton, have grown in value by more than 60% since the market started its latest surge in May 2012 and their owners are now realising some of these profits,” said Mr Hill.
To illustrate, Raine & Horne Crows Nest recently listed a fully renovated 2-bedroom apartment at 5/47 Shirley Road, Wollstonecraft for $1.02 million. A similar property in a neighbouring unit block sold for $625,000 in the middle of 2012.
In Sydney’s west, an early Easter should have an impact on getting the property market moving earlier than the last couple of years, noted Peter Diamantidis, Sales Manager, Raine & Horne St Marys.
“We’ve already seen an improvement in buying enquiries by 5% in early January, compared to the end of spring 2017,” said Mr Diamantidis.
“An earlier Easter might be contributing to more buying enquiries, while plenty of Sydneysiders often include a new home in their new year’s resolutions list. A call to a real estate agent is the first step in actioning this resolution.”
Mr Diamantidis expects that an earlier Easter will prompt more auction sales in the first quarter of 2018.
“While we have seen some owners list early, there will be some vendors who will still need to spruce up their properties for sale, and therefore won’t be able to go to market until February.
“If they aim to sell before Easter, then an auction, which has a traditional 40-day marketing campaign, will prove the best approach to achieving a sale before the Easter Bunny arrives.”
For further media information please contact:
Kim Pilkington Communications Executive, Raine & Horne Group on 0414 358 722