Wadestown update August 09.
Wadestown Market - August 2009.
Well, if you think you have seen a lot of sales signs up around Wadestown during the last few months, then you are correct. Our suburb has been very active with sales increasing from 7 to 19 over the same time last year.
I have been busy and welcome my purchasers to Wadestown. I know they will love living in this vibrant suburb.
I am dealing with a great many more expats. and immigrants this year compared to last year and these buyers are cashed up and ready but unfortunately there is still not enough houses available to satisfy demand.
Proximity to the city has been the main factor for wanting to purchase in Wadestown rather than wanting the Wellington College zoning, which has been a main factor over the last two years. I believe most people expect fuel prices to increase sometime in the future and this is very much on their minds when buying.
Some suburbs have had an increase of rental properties coming onto the market as owners sell up but I have noticed over the last few weeks, an increase in investors entering the market again and wanting to buy in ‘city fringe’ areas.
Over the last two months we have experienced multiple offers for a great many properties and this has kept prices up.
Of the 10 houses in Wadestown that I have sold over the last few months, 7 sold for above their capital value (rateable value). On average they sold for $36,500 above their capital value.
Houses are still in short supply, so please contact me if you are thinking of selling, as now is a very good time.
Bobbie Meyer-3829485, 027 2315101, firstname.lastname@example.org