Local Market Update March 2016

The month of March had plenty of interruptions with the Easter break and school holidays but even with these distractions the team at Ray White Cheltenham had a busy month and achieved some great results.

The sales department listed strongly during the month of March and had a number of campaigns hitting the market both during the month and also in April. These auction campaigns will create plenty of interest in the marketplace with some very desirable properties. Belinda was the standout for the month with listings with a good result also achieved by Sam. Sales numbers were also quite strong with the standout being Dawn Street in Highett which achieved a result over $100,000 over reserve. We are still seeing strong interest in the marketplace for family homes, whether renovated or not, around the $1 million mark.

The rental department had a quieter period after a busy one last month but still performed very consistently. A shortage of stock meant good interest in available properties, good attendees at open homes, and plenty of applications for landlords to choose from. We are still seeing a high demand for modern townhouses with two or three on the block and also quality family homes. As always quality properties attract quality tenants. The rental team worked hard during the month with maintenance levels consistent and many routine inspections conducted too.

Until next month