February 2018 Market Update and Record Sales

The Property Market works in funny ways and for the last five years, buyers have had a difficult time in finding the right property.

There had been a drastic shortage of quality residential properties for sale - during the whole five year boom - but as everything in life has its cycles, so does the real estate market. In 2018 N G Farah has seen a record amount of quality properties for sale in the South East, East and Inner City suburbs of Sydney.

This weekend N G Farah have on show 49 properties across the South East and during the month of February, we have had several record sales including:

    -- 34 Knowles Avenue, Matraville, where Ken Smith secured another record house sale for the suburb at $2,575,000

    -- Theo Karangis & Martin Farah sold 42 Borrodale Road, Kingsford for $6,520,000 - $1,520,000 over the reserve price

    -- 301/54 Marine Parade in Maroubra was sold by Martin Farah & Beau Champion in just two days off market

    -- 26/44 Melrose Parade, Clovelly sold after only one open home by Theo Karangis.
 

This is great news for buyers as there is more choice, there are more motivated vendors and all the while the economy moves in a positive direction. Interest rates are still low and wage growth and increased employment opportunities are positive moving forward.  It is a great time to be buying real estate.