Welcome to 2017! I trust that you have taken the opportunity to have some well-deserved time off with you loved ones and are back into the grind of daily life by now. During the Christmas holidays our office was closed from Christmas Eve until just after New Year’s however our team made sure that they were working hard for our clients before Christmas with December producing some incredible results. Just before the break up we sold several homes throughout the Dandenong North area with all properties achieving some fantastic prices. Two particular results to mention were the sales of 9 Boronia Avenue, Dandenong North, a weatherboard property with an asbestos roof that was ready to demolish, pulled a staggering $466,000 for purely just the land value, and 7 Leeside Street, Dandenong North which sold for $526,000 and was also a weatherboard dwelling with an asbestos roof. Both of these results show that 2016 was a year of growth in Dandenong North with the median price in the area climbing by just over 12% throughout the year. This trend is very likely to continue through the start of 2017 with listing stock levels sitting at around 30 listings for the entire area meaning that buyers will be forced to compete for the same homes and thus drive up property prices again. Such a trend is often common at the start of every year with most potential sellers opting to sell in during the popular spring months meaning that there is a huge opportunity for any person wanting to take advantage of the growing prices at the start of the year. So what is in stall for the rest of 2017? Well if it is any measure to go by, both 2015 and 2016 have seen tremendous growth and there is little reason why 2017 will not follow suit. With record low interest rates, low levels of listing stock and high demand for the Dandenong North area, 2017 will continue where both of the previous years left off. As you may have heard me say, there is no doubt that Dandenong North is heading towards the magic $1 Million mark and it may happen sooner than you think.
