Quarterly Real Estate Market Update - Spring 2010

Not long to go until Christmas and the Real Estate market has seen a record amount of properties come onto the market for sale over the past month. Last Saturday, the Manly Daily had a 200 page Gloss Real Estate section, the biggest edition ever. With offi cial interest rates increasing on Tuesday 2nd November by 0.25% and the extra supply of properties for sale we are starting to see price growth slow down. From this we feel the next 3 to 6 months
will offer a fantastic opportunity for families looking to upgrade their home. The slow down in prices is mostly affecting the more expensive properties with the best demand from buyers being up to $2,000,000.

At Raine & Horne Seaforth we have had a great last few months which included selling our 4th property in Cutler Road, Clontarf in a 7 month period. We are also seeing several overseas based property owners looking at selling their properties to take advantage of the strong Australian dollar and then re-invest the money in property markets in other parts of the world.

If you need any assistance with a property matter we would welcome the opportunity to assist you and can be contacted on (02) 9948 2020.

Jason Guildea
Principal - Raine & Horne Seaforth