Marketplace Report

It is my pleasure to provide you with this annual comprehensive Sales Report for 2018 BAYVIEW | TERREY HILLS | DUFFYS FOREST | INGLESIDE Belle Property Mona Vale: 9979 1020 | Belle Property Terrey Hills: 9450 1600 The Northern Beaches Residential Sales Market softened in 2018, primarily in the last half of the year. Despite there being no shortage of buyers still keen to secure property, many lacked confidence in purchasing prior to selling their own home which resulted in a significant increase in the average days on market.We also saw a decrease in median sale prices, with Bayview dropping from $2,020,000 to $1,880,000 and Terrey Hills reverting back to its 2016 median sale price of $1,500,000 after previously reaching $1,600,000 in 2017.The slowing of house prices in the area was largely due to the Royal Commission’s scrutiny on the banks which led to further tightening on mortgage loans, investment lending and bridging finance. 2019 looks set to be a year of consolidation in the property market, with many industry experts predicting only a slight chance of further corrections and interest rates to remain on hold. YEAR IN REVIEW Kind regards, Kevin Packham L.R.E.A Director M 0414 991 870 E MARKET REPORT 2018