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Residential Market Update with Sean August 2016

Wollongong/Illawarra Residential Real Estate Market Update

The market in Wollongong and its surrounding suburbs is certainly very strong at present.

With interest rates at all time low, there is certainly no indication that this market is about to slow.

Recent property reports through RPdata indicate that the market in Illawarra region is still rising and the average days on market is approximately 40 days. Recently we auctioned a property at 25 Ramah Avenue, Mount Ousley, this property sold for $114,000 above reserve price which is certainly another indication on just how strong the market is at present.

This weekend we have a property at 60 Dumfries Avenue, Mount Ousley going to market. It's a four bedroom home, it's in a very sought after location and very much sought after price bracket and it's close to the beach, close to the CBD and I advise any prospective purchasers to inspect this property as soon as possible. We are expecting a lot of interest in that property.

Even though we're still in the middle of the winter months, I?d advise that anyone that is interested in selling their property I?d advise you go to the market now, take advantage of the unprecedented buyer enquiry at present and a shortage of supply of properties on the market. Don't wait until Spring because that's where all your competition will arrive.

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