Since the election there has been plenty of positive media reports about improved auction clearance rates, but the question many owners are asking is ‘have we noticed a difference in Ringwood and surrounding areas?’ The answer is yes.
In our office we have seen a spike in open home numbers and also bidders per auction since the election and across the market we are seeing many properties that had been sitting on the market sell. Many of which have sold for surprisingly high prices.
The question remains – ‘are we seeing the beginning of a market rebound or are we experiencing a ‘purple patch’ due to low number of properties for sale in the Ringwood area?’ This question will be answered in Spring when we see stock numbers increase.
If the market is to begin to recover it is certainly welcomed for us local Ringwood real estate agents and well as Ringwood residents.