Strategy and Consistency Driving Success at the Midway Point of 2024

Landing at the halfway mark of 2024, it's a suitable time to reflect on the importance of strategy and persistence when it comes to excellence in real estate. Evolving market conditions and economic uncertainty continue to be trending topics this year, as interest rates and inflation remain static. We’ve chosen to focus our energy and efforts on the factors within our control, and in doing so, here are the achievement highlights we’re proud to share for the first half of this year.

OVER 64 HOMES SOLD SINCE APRIL, TOPPING A COMBINED $138.9 MILLION

No matter the market, our strategy is always consistency when it comes to achieving outstanding sales results. Here are the key results you need to know about:

• 30 Empire Avenue, Concord - A family home built for entertaining - ($3,900,000) 
• 2 Gloucester Street, Concord - Prime positioned masterpiece of breathtaking design - ($3,399,888)
• 36/35-39 Phillips Street, Cabarita - Resort style apartment with water views, reaching a new building record - ($3,150,000)
• 22 Tyler Crescent, Abbotsford - brand new state of the art duplex sold off market - ($3,680,000) 
   

MARKET MOVEMENTS ARE REACHING RECORD HIGHS

The persistence of Sydney’s market growth is unmatched, rising for 15 consecutive months with record highs in many markets, and now newly forecasted to increase by around 5% this year as the price upturn is now firmly entrenched as a continuing trend.

Recent property data shows near record-low listings and impressive value increases across the board, a promising display of market resilience in every pocket. Nationally, a 0.8% increase was recorded over May, bringing the year on year rise to 8.3%, significantly outpacing the inflation rate. 

A closer look at Sydney specifically shows overall dwelling values have risen 0.6% in the last month, with the median house value now at a new high of $1.44 million (up $20,000), while unit values have hit a record of $848,961 (up 0.7%.).

A RENTAL RESPITE WITH STANDOUT YIELDS 

The manic rental period has eased into the mid-year mark, with a vacancy rate holding steady at 1.5% from April to May. June presented a more sluggish period than usual, seeing increased vacancies and reduced attendance at property viewings, providing some much needed respite for tenants previously caught up in the chaos.

Our Property Management team’s adaptable approach to working with all rental conditions ensures tenants and homes always find each other. Successfully leasing four out of five rental properties just this week, our standout leases include:

• A two bedroom Rhodes apartment at $900 per week
• A three bedroom Concord apartment at $1,000 per week
• A four bedroom Drummoyne duplex at $2,800 per week
• A newly constructed Concord West duplex at $1,700 per week

REASONS TO CELEBRATE

If persistence and strategy are the approach to excellence, the reward of success is in the feedback we get. There’s been much to celebrate already this year, with our agency awarded the Local Business Award for Outstanding Real Estate Agency for the second consecutive year, thanks to the value you’ve placed on our services.

Dib proudly presented at AREC 2024 in May, addressing a crowd to impart a few gems of advice on what it takes to reach the top of your game. And when it comes to reaching the top of your game, it doesn’t get as humbling as being announced the top 8th top agent in Australia, according to the 2024 REB Top 100. Thank you for your continued support.

MAKING A DIFFERENCE

We care strongly about those we sponsor and partner with, and are thrilled to be able to share an update on the phenomenal work ZERO has contributed to groundbreaking advancements in treating childhood cancers.

ZERO's unique approach to personalised therapy tailored to each patient has recently  shown superior outcomes for children with high-risk cancers, significantly improving clinical responses and survival rates compared to standard therapies. It means so much to us to be able to support this cause and the impact it has on saving lives.