Ensure you never miss an issue of the
real estate business bulletin
Property market still on fire: Raine & Horne

Property market still on fire: Raine & Horne

by Reporter 0 comments

Despite the recent decline in first home buyer activity, Raine & Horne chief executive officer Angus Raine has said there is still plenty of heat in the market.

Mr Raine said there were property pockets in Sydney that were showing strength, including Annandale, Bronte, Darlinghurst, Epping, Killara and Zetland.

“Listings in many Sydney suburbs are up since April and this is creating symmetry between buyer demand and supply,” Mr Raine said.

“This is maintaining robust prices in those locations with median prices typically above $800,000.”

Mary Anne Cronin, licensee-in-charge of Raine & Horne Bondi Beach said Bronte Beach was currently enjoying strong price growth.

“It’s a small suburb which has some fabulous homes. It’s also tightly held, so there is a shortage of properties for sale, which helps boost demand and prices,” Ms Cronin said.

“Units, in particular, have been in short supply. For instance units in a 1970s-style block in Belgrave Street, Bronte sold for around $600,000 two years ago.

“A similar unit in the same block recently sold for $880,000.”

RP Data’s director of research Tim Lawless told Real Estate Business that suburbs such as Bronte offered the best value growth potential because of its location and proximity to transport.

“The best growth opportunities will be found in those areas where transport infrastructure provides a reasonable level of connectivity and amenity to residents and where affordable housing is strategically located within a comfortable commuting distance from major working centres and transport options,” Mr Lawless said.

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
Property market still on fire: Raine & Horne
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?