Senior Economist at PropTrack, Eleanor Creagh announced in April that national home prices increased for the fourth consecutive month this year. She highlighted, “The cumulative 2023 increase of 0.75% is underpinned by tight supply and stronger housing demand, which is offsetting the impact of interest rate rises.”
At a local level we saw a strong first quarter of 2023 and continue to see buyer confidence increasing. There was a noticeable positive response from buyers when interest rates were put on hold in April. Our team put 11 properties under contract that month with an average of 90 groups per week through our open homes plus 19 private inspections per week in April.
Although May saw an interest rate rise, it hasn’t slowed buyers taking action. We have secured contracts on 7 properties for our owners in the first two weeks of May so far. Our sellers are achieving positive outcomes by receiving to-the-minute, experienced advice from our agents who are having honest conversations to ensure our client’s strategy is appropriate for the current market. It is clear that if you are selling with the wrong strategy in the current market it will really blow out time on market and negatively impact the overall outcome of your sale.
It was exciting to form the new-look Hinternoosa at the start of April with the two leading hinterland agencies, Wythes and Hinternoosa, coming together as the new Hinternoosa super team. Already, our sellers are seeing the benefits of 11 agents actively working to sell their property. In addition, our client’s needs are being met by a property management department of 5 and an exceptional administration team, all backed by strong leadership.
A selection of recent results achieved by our new-look super team include 92 Hoy Rd, Lake Macdonald sold immediately post auction by Alisa Wythes for $1,900,000; 79 Pearsons Rd, Cooroy sold at auction by Jeanette Catalano (price withheld); 173 Nandroya Rd, Cooroy sold for $1,050,000 pre-market by Kess Prior and Dannielle Preston; 41/19 Trading Post Rd, Cooroy sold in 26 days by Alisa Wythes and Sheridan Hodgetts (price withheld); 3 Grey Gum Ct, Cooroy sold for $980,000 in 34 days by Warren Berry and 884 Eumundi-Noosa Rd, Doonan sold for $1,075,000 post auction by Caroline Johnston and Alisa Wythes.
For the same great results or if you have any questions on the market and your own situation, please reach out for a confidential chat. Hinternoosa Cooroy 5447 7000 or Doonan 5449 1186.