At Harcourts – The Property People, we are excited about the year ahead. We have a huge list of exciting projects and plans to be realised over the next 12 months in both our sales and property management departments.
Looking back, 2014 was a highly successful real estate year. Most suburbs enjoyed excellent median price growth of between 15-19 per cent from 2013, with many suburbs achieving record house sales.
2014 was another huge and successful year for our auction sales. We conducted 13 in-room auction events over the year, placing 100 local properties to auction. Overall, we achieved a 68 per cent clearance rate at the auction events, with a median of 12 days on the market before selling for the properties that were “passed-in”.
I expect that in 2015, sales will continue to hold strong, however growth be at a steadier rate than that experienced throughout 2014.
In property management, I expect vacancy rates to remain low and rent prices to remain steady, or perhaps increase a little over the year.