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Local Market Update

By Eleanor Hopkins

Well the year is fast closing, November has been and gone and it was another strong and consistent month for the team at Ray White Cranbourne. The sales team enjoyed a very busy month with plenty of sales and plenty of buyer activity. The month of November saw our second lowest days on market data for the year and is a great indicator of a strong market. At the same time we also saw a number of properties sold under multiple offer situations. This has been consistent throughout the year with well-priced, well presented homes commanding good interest from day one of being on the market. Listing wise we were also able to continue our consistent year with strong listing numbers by both Chaminda and Paul May in particular. On the sales side of the ledger Kate, Chaminda and team Ringeri were the stand outs for the month.

The rental department have been as busy as ever with a new PB set for applications processed. The team worked on 185 lease applications for the month. Interesting that although it was well above our previous level we didn’t let any more properties. This is a good indication that we have such high standards that we expect from our tenants for our landlords. Letting numbers were still strong though with plenty of interest in the range of high $300’s per week. We have seen a large number of new properties hit the market over the last few weeks as developers complete homes before the Christmas break and handover to new owners. This is placing plenty of pressure on prices and landlords trying to ensure they don’t have vacant properties over the Christmas period.

As we near the end of 2014 it is interesting to review the year we have had. This year we celebrated 10 years of business and servicing the local marketplace. It’s a milestone not all business’ can achieve and something we are very proud of. I’m also proud that two members of our team have celebrated 10 years with us too. Kate Rushton passed the milestone mid-year and Paul Ringeri later in the year. A huge thank you to both of them for their service and massive contributions to our business over that time and no doubt into the future.

The year also saw interest rates remain constant for the year. This has been great for providing increased buyer confidence and stability for those entering the marketplace. We have also seen plenty of new estates emerging and completing during the year. It’s great to see so many new facilities in the vicinity and it bodes well for the future of the area and values long term too.

We are very proud to say we have let more properties than ever before, well in excess of one per day for the year. This means we have many happy tenants and landlords. This has been assisted by the introduction of new technology this year with open home bookings for rentals. This embracing of new technology has streamlined our procedures and provided extra service to both tenants and landlords. We are always looking for ways to keep our business ahead of our competitors and will keep introducing new ideas in the years to come.

From everyone at Ray White Cranbourne we want to wish you and your family and happy and safe Christmas and prosperous New Year.

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