By Jane Donald
I am sitting in the beautiful Mayfair 2, 4 Tamworth St providing you with a q1 2025 market review.
In summary another active quarter which saw a good response to all properties in all price ranges. In February we saw the first cash rate decrease since November 2020 which increased confidence in the market and encouraged buyers to purchase without delay.
We had 439 buyer inspections, 120 offers made resulting in 28 exchanged contracts.
$1,565,000 highest price
$40,000 lowest price for a block of land in Eumungerie
The average days was considerable lower at 32.
Highlight standout sales were 14 Howard Avenue, sold by Ross Woodham, selling for $610,000 well over expectations, the presentation was a credit to the vendor plus 8 and 4 Nona Place selling on the same weekend by Elle Roberts.
The most sought-after property, attracting over 37 groups to inspect was 17 Rawson St a well-presented family home in central marketed by Jen McGrath and myself.
In 2025 we have changed the sale process to offer to prospective purchasers the pest and building inspections for the property, we also require all offers to be made through our online portal. This process has increased transparency in the sale negotiation, and we have had a great response from our clients and buyers to this change. It has enabled the average days on market to halve from 67 to 32. We are not having to re-negotiate sales after obtaining inspection reports and sales are exchanging much quicker. It has been a great success.
