Northern Beaches
General Market Update:
Welcome back everyone, and plenty of property owners appear resolved to make it a happy new year with a massive surge in appraisals.
Research from Raine & Horne reveals a promising 18.65% surge in appraisals across Australia in December 2022 compared to the year before. The headline acts were Queensland, where appraisals surged a massive 52% and NSW, where it appears 20% more property owners are eying a 2023 sale.
While the doomsayers are talking about softer market conditions in the major capital cities and the impact of higher interest rates, many savvy vendors have recognised they are still in front after record gains during the pandemic. CoreLogic's January 2023 National Home Value Index found that dwelling values remain 11.7% above where they were at the onset of COVID (March 2020), while values across the combined regional markets are still up 32.2%.
Besides, three capitals kicked plenty of goals for vendors in 2022. In Adelaide, dwelling values are up a fantastic 10.1%, followed by Darwin up 4.3% while values in Perth jumped 3.6% in 2023.
To take the guesswork out calculating your property's value, add an obligation-fee appraisal from your local Raine & Horne agent to your list of New Year's resolutions. A property appraisal is a fantastic way to find out what the local property market is doing, and is an important step to understand the true value of your property.
To understand what this means for your property goals, reach our team here at Raine & Horne Mona Vale on 9999 0800.