Real Estate Market Update - Mermaid Waters - November 2018
Houses - Mermaid Waters
Looking at the numbers below, the market has declined slightly over the year. There is not much change in prices from my report of two months ago.
Days on market has steadied off after increasing from December 2017.
Percentage of stock on market for houses has been rising since the beginning of January 2017.
Units - Mermaid Waters
Mermaid Water unit prices continue to buck the general trend this year, with an increase of 5.1% since the beginning of the year. This is a bit down since my report of 2 months ago, when it had increased by 7.2% for the year.
Days on market still remains historically very low and stock levels have also been decreasing since they peaked in March this year.
Mermaid Waters house prices seem to have gone through a year of price consolidation after the tremendous growth last year. Days on market and stock supply would indicate that there is still strength in the market moving forward.
Units in Mermaid Waters continue to show growth this year and I believe it is due to a large number of older units being renovated and sold. Mermaid Waters great position near the beach front, public transport and Pacific Fair shopping centre continues drive demand.