Residential Sales Bondi Junction
At present the residential sales market in Bondi Junction is ‘muddling’ along.
Quality properties that are fairly priced are selling. Withdrawn listings indicate that a gap remains between vendor and purchaser expectations.
Discounts are evident in the market however have decreased as vendors come to terms with the current market.
Here at Wills Property, we have seen a shift away from Auctions to Private Treaty as vendors seek increased control over the process. We are also ensuring extra time is spent qualifying prospective purchasers due to increased requirements around financing.
Qualified purchasers are presently holding the balance of power.
Rental Market – Bondi Junction
The rental market in Bondi Junction is facing significant challenges. There has been a flood of properties placed on the market for lease, a consequence of the current epidemic.
Total rental listings had been approaching the 600 mark toward the start of May.
Rental listings are still above short and medium-term averages, a result of new product being released in the market from developers who have been unable to sell and the current epidemic.
Those landlords who have worked with their agents, meeting individual tenant circumstances have secured certainty of cash flow.
If you would like further information or would like a superior level of property service please contact me:
John Wills FAPI JP
0467 443 838