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Property PricesWe have received a number of comments this past week about property values at Sandhurst including several who said they were disappointed with the lack of substantial capital growth over recent years.

Growth in property values is influenced to some degree by “internal” factors such as the development of the project, the facilities offered and the amount of property available for sale. But it is the “external” factors that play a much larger role in any property market, particularly interest rates and bank lending policies, and hence, value growth has been disappointing across most of Melbourne since mid 2010.”

Our company has been producing a Sandhurst Property Research Report every 6 months since 2006; the latest being for the period July to December 2010. That research shows that the average house sale price at Sandhurst has increased since mid 2006 from $435,740 to 627,641 – an increase of over 40%.

Our next report will be for the period January to June 2011 and we expect to see some reduction in the average sale price. If you would like a copy of the most recent Sandhurst Property Research please email me at kimw@sandhurstresidential.com.

Overall, I’m very confident about the Sandhurst property market. This is an exceptional project with world class facilities and, while short term factors like interest rates will have an effect, longer term Sandhurst has a very bright future.

Story by by Kim Ward, Sales Director Sandhurst Residential

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