As we are in the fourth quarter of the year, it's time to take a look at the 3rd quarter performance for First National Stanhope Gardens.
A busy Q3
It’s good news for us at First national Stanhope Gardens – the housing market is on the way up. A series of interest rate cuts, the opening of the new Sydney Metro Northwest train line and an unprecedented supply of stock have accelerated the start of the upswing and a remarkable turnaround.
And the buyers are back too - our team has had a stellar quarter in sales and we have achieved outstanding results for all our clients along with a few record sales.
With rental yields improving and houses becoming more attractive as an investment option, our team at First National Stanhope Gardens has done well in rentals as well.
So how did our co-suburbs fare?
Sales update: The Ponds
With a whopping 53 home sales this quarter, The Ponds has experienced solid sales activity in the third quarter. The standout was 154 Riverbank Drive, which was sold at $1.38 million in just 2 weeks. Worth mentioning is the sale of a single level property - 88 Amarco Circuit – which was on the market for quite some time. This home was sold for a record-breaking $1.35 million, the highest sale price ever fetched for a single level home in The Ponds.
Sales update: Kellyville Ridge
Kellyville Ridge property market was a bit subdued in the third quarter. We had only 21 sales in this suburb. However, negotiations are going on for a single level property, which is all set to break the record for the highest-priced single level home for this area. Fingers crossed. Watch this space for more updates.
Sales update: Stanhope Gardens
We had 24 residential sales in our home suburb, Stanhope Gardens, and our team did well to sell off a couple of off-market properties with a great campaign, saving us marketing dollars. Some of the highlights for us in Q3 were 6 Rawson Street, which was sold for $1.26 million, and 45 Yarrandale Street for $1.25.
Sales update: Quaker Hills and Acacia Gardens
Though we had a 40% decrease in stock levels when compared to the previous year, we had 94 property sales in Quaker Hills and 11 in Acacia Gardens. In Quaker Hills, we had 20 Sapphire Circuit, a beautiful 5-bedroom, 2-bathroom, double garage well-kept home, sold for $1.1 million in under three weeks. 17 Condor Street, a three-bedroom single garage home in Quaker Hills, was sold for $865,000.
Our support for sports clubs
This quarter, First National North Western played an important role in supporting the Ponds Cricket Club.
We have been supporting the Ponds Little Athletics Clubs facilities as well.
Rental market Q3 update
The rental market is improving as well. On average we have leased out 15 properties every month. We have also noticed a lot more interest in our rental properties in this quarter. More people are coming through our doors rather than waiting for an open house.
There are more properties available for rent. The larger and expensive properties are being rented out faster. The average time on the market has gone down from 28-30 days to around 18-21 days, and the vacancy rate has reduced from 9% to 3%.
Rental statistics for First National Stanhope Gardens:
· 44 Properties leased
· Over 660 rental inquiries
· Average time on the market - 19 days
· 3% Vacancy rates
And it’s a festive time
With the festive season around the corner, a favourite time of the year to invest, we have many aspiring buyers with pre-approvals and strong offers.
So, if you are seller, give us a call and we’ll update you on the market and help you make the right decisions.
Look for more exciting news in our next quarterly update…