The Chatswood property market continued to experience very low stock levels during August.
Due to the lack of properties on the market, buyer activity has been extremely high. As an example of this – when we listed a studio unit in Chatswood for $365,000, we received 3 offers within the first 3 days of the property being on the market. The unit ended up selling for $7,000 above the asking price! A great result for our happy client.
Chatswood retail shopping appears to be a little quiet and commercial activity is also low key.
The development site known as Thomas Street Carpark has just had the fence go up, with construction about to commence, which is encouraging.
The end of August has seen strong enquiry from people looking to sell their homes, so we anticipate there will be a much greater number of properties on the market between September and November.
Our stock levels for rentals are also quite low. It was recently reported that the general vacancy factor across the broader Sydney market is 2%. Ray White Chatswood’s rental vacancies are currently running at half that.
If you’d like to know more about Chatswood Real Estate, please feel free to contact me via email: firstname.lastname@example.org or phone: 0418 223 375.