As usual, January in Chatswood is predominately a holiday month, where Sydney-siders are more interested in a well-earned holiday break than buying or selling a house. However, we did sell 15 Harris Street, Willoughby, for over $1.3 million, so there is still activity. Prices remain stable and the number of properties on the market is still low.
Also, we have strong interest to buy a 2 bedroom unit in Help Street for over $800,000.
As a guide in 2011, there was 140 house sales in Chatswood, and in 2012, there was 127 – that’s a 9% reduction in the number of house sales. The median house price in Chatswood continues to be around $1.2 million.
While Sydney was quiet, the Gold Coast was ‘hot’. In January, their market was busy, as the large amount of holiday makers on the Coast look at buying and selling property. Congratulations to the Ray White Surfers Paradise group, who held more than 100 residential auctions over the Australia Day long week end. Approximately 70 properties sold, with a value of over $32 million.
We now move in to a strong selling period in February and March.