January looks as though it will be the bellwether for the first half of 2023 for Bondi Junction.
The message “low stock levels and cautious enquiry.”
New sales listings are down 70% over the previous week, and 10 properties have been withdrawn from the sales market.
We are seeing an adjustment in pricing as the wider property and financing markets move back towards normality.
As we move toward ‘peak interest’ in the current cycle, there will be a rise in consumer sentiment and a stabilisation in property prices and activity.
In Bondi Junction, the median house price has dropped to $2,765,000 from a peak of $2,930,000 in August 2022, a decline of 5.6% over five months.
Purchasers are factoring in discounts for properties that have any risks around use of trades. People are prepared to pay up for quality properties that do not require renovation.
If you are after a result in the current market, call us to discuss. With tailored marketing programs and no upfront costs to you, Wills Property are your go-to team.
Call us at 9387 1700 or email john@willsproperty.com.au to discuss your listing.
