HS Preston North Report April 2019

The North Report/ 04.2019

Positive Buyer Activity

Joe Ledda Director | Auctioneer 0418 176 858

standards, specifically the availability of credit, is weighing on demand for home loans. Investor demand is also waning due to falling property prices and increased stamp duty for foreign buyers. Listings of homes for sale has increased. But prospective buyers may also be dissuaded from purchasing properties due to political uncertainty around the Labor Party’s proposed negative gearing policy and the upcoming Federal election. Given that any potential changes to these policies are not going to be brought in straight away and will only apply to new purchases, we are actually seeing many investors looking to secure property before any potential legislative changes. As highlighted above, whilst we haven’t seen prices increase yet, the balance between buyer optimism and

It seems as though buyers have indeed come out with positive intent to start this year. As we at hockingstuart predicted, the buyers appear to have decided they want to take advantage of better conditions, Buyers are out in good numbers and more importantly, looking to put their hand up at auctions and make offers on properties in the area. Looking at statistics for the quarter, the CoreLogic Home Value Index of national home prices fell by 0.6 per cent in March – the smallest decline since October - to be down 6.9 per cent over the year. Tighter lending

vendor expectations seems to have come together in our northern sector in particular. Late last year was a tumultuous time in the property market, but it appears that buyers are now again seeing value, particularly when a property is promoted, presented and priced correctly. So, with a mixed end to last year seeming to even out to start this year and with this positive sentiment currently helping secure sales, please contact myself if you’re looking to sell your home to talk about an on or off- market strategy. n

RECENTLY SOLD Preston 2C Tennyson Avenue

FEATURED PROPERTIES

South Morang 14 Delphi Avenue Preston 403/33 Seymour Street

Auction Sat 27 Apr 11:30am

Auction Sat 11 May 11:30am

SOLD $902,000

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TOWNHOUSE 4

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HOUSE 2

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APARTMENT

Market Wrap for Darebin / North: March Quarter 2019 Houses Units/Apartments

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