On today’s episode of Soho Carpool, Stefon Bertram from McGrath tells us what he’s been seeing in the Ryde Market for houses and apartments.
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Here’s the transcript of the video:
Let's look at houses v’s apartments in I guess Ryde and surrounding areas. Are more people interested in houses in Ryde or you seeing some new stock for apartments? or what investors kind of after? Yeah, definitely look I think houses are the draw card, that being said my colleague my business partner James Jin is selling a lot of apartments where there was sort of a bit flat footed towards the start of the year. A lot of people were sitting on their hands where now we're starting to see a lot more transactions happening just in the last couple of months, but compared to houses versus apartments. We're seeing on an average open home 2,3,4 buyers attending an apartment are actually really good numbers. If you crack 5 that's phenomenal. With houses, we had one of the weekend, 17 Bidgee Road that had 26 buyers come through just in the one 30-minute inspection. So i'm seeing houses have a much higher demand at the moment. In-terms of demographics in Ryde, what are most of your buyers a seller's? I'd say is a few things mainly because yeah the family buyers or trying to stretch into house If not a house maybe a duplex. If not a duplex maybe a townhouse or a villa versus going for that apartment. Where I feel like in 2017 when the market was skyrocketing people were settling and even if their first pick wasn't a apartment they were settling for an apartment because they just that that fear of missing out as the market kept going up and up and up.