January 2024 rewarded sellers with open home inspection numbers up 16% on the same time last year and over 54% up on two years ago. Ray White West End held its first open homes on the Saturday the 6th January, which proved to be the biggest weekend for inspection attendance for the month.
Our first open homes averaged 15 groups per inspection, resulting in a high clearance rate of 81% at our first auctions held the 25th January. With 11 properties up for sale, 9 sold under the hammer with 56 registered bidders.
Loan approvals are up considerably on 2023 levels, up 178% year on year. Preapprovals are an indication of future buyer activity and as new properties to market remain low; buyers are forced to compete and pay market’s best price to secure their new open or investment.
Average West End Sale Prices January 2024
1 bed apartment $450,000
2 bed apartment$670,000
3 bed apartment $1,250,500
3 bed house $1,500,000
4 bed house $1,710,000
West End Apartment Price Data – REA 31/1/24
West End House Price Data – REA 31/1/24
Open For Inspection Data – RW 31/1/24
Loan Approval Data – RW 31/1/24
