Updated: Nov 5, 2021
✦ So is it time to sell?
The impact of COVID-19 is starting to ease and confidence in the property market is increasing.
Realestate.com.au has recently reported that based on five years of sales, Wauchope has seen a compound growth rate of 6.1% for houses and 6.3% for units.
Median property prices over the last year range from $480,000 for houses to $425,000 for units.
For those who are considering downgrading or seeking a new lifestyle, this may be the best time to sell.
If you’re still sitting on the fence on whether to sell your property or not, we get it. It’s a huge decision that deserves all your careful consideration in weighing up the advantages and disadvantages for either scenario.
Interest rates are at their lowest, giving buyers the capacity to borrow. However, we've also seen APRA, the national lending regulator, step in with measures to reduce buyers' borrowing power as of November, and they may take further measures to slow the housing market in 2022.
Westpac economists Bill Evans and Matthew Hassan say that "while the market upturn has weathered the latest COVID disruptions very well and is clearly carrying strong momentum, the boom is entering trickier territory."
So while it's likely property values will continue to rise to a lesser extent in 2022, the bulk of this boom cycle looks to be behind us.
What we’re seeing is the city lockdowns are lifting, vaccination rates have hit target, and spring/summer seasons mean buyers will be out in full force.
Figure from realestate.com.au
What can Wauchope sellers expect from Sancrox Real Estate?
Talk to Chris and Tanya Gill at Sancrox Real Estate who can help you with your research, provide perspectives and value your place to the highest possible sale price.
Chris and Tanya Gill operate with integrity, honesty and with over 13 years of real estate expertise in the local area, they are definitely highly skilled and committed to delivering exceptional results every time for the client with guarantee of service.
Being so familiar and passionate about the local area, they are able to attract the most number of real potential buyers in the shortest time frame to achieve the highest possible sales price for each and every client.
For Wauchope buyers and investors
With 33.7% of Wauchope’s population consisting of older, established elders and families (over 40 to 65), Wauchope becomes an attractive abode for healthcare professionals commuting to Port Macquarie Hospital and other healthcare facilities with a shorter travel time by avoiding the Port Macquarie traffic.
If you are looking for an investment property, consider houses in Wauchope rent out for $463 PW with an annual rental yield of 5.0% and units rent for $370 PW with a rental yield of 4.5%.
Below are view points from realestate.com.au
Summary view of Wauchope Units