Our Ku-ring-gai Property Update For Monday 13th August 2018
Here is our Ku-ring-gai Property Update For Monday 13th August 2018. Some growth this week and I think we will continue to see the number of active listings increase and a consistent turn-out to open homes. Whilst we aren't seeing record attendance at inspections, we did issue numerous contracts and received offers on several properties during the week indicating those out looking are genuine buyers. It has been interesting looking at CoreLogic's August property market chart pack and seeing of the overall performace of the Sydney market. The one slide that I found particularly striking shows the extent of the recent changes to lending conditions:
I have mentioned before that in recent months many potential buyers have indicated they have been told they can borrow less than they thought or that their approval would take significantly longer than expected and I have no doubt this has contributed to the longer average time on market compared to 12 months prior. Fortunately, Ku-ring-gai is still mostly made up of owner occupiers and these changes have had less of an impact here than in other markets. If you would like to look at CoreLogic's report in full it can be downloaded here.
by Josh Luschwitz in Latest News
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