April recorded the third highest volume of sales in the Devonport (south of the golf course) area in 12 months, but a mix of positive and negative deals resulted in the average price compared to rateable value (RV) averaging out at 3% (This changed from the original article which stated 0% – Ed). The reason for the change was the inclusion of some RV data that had been elusive. The move from 0 to 3% was almost singlehandedly as a result of one couple who became particularly enthralled by the drama of an auction, and ended up paying somewhere in the region of 30% over the RV. That’s love for ya!
Average time to sell was down too, but this doesn’t necessarily mean the market is speeding up, as a large chunk of the houses that had been stuck on the market sold last month, so only relatively recently listed houses were left. However, if this trend continues, then that clearly will signal a market speeding up.
Houses in the more desirable areas continue to sell at prices lower than their most recent RV – some markedly so. The couple of houses that sold in supposedly less desirable areas sold for well over their RV, continuing a trend that has lasted for pretty much the entire slump in the local market.
Some beautiful houses currently on the market; will be interesting to see how their sales progress.