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NSW Posts Huge Sales Numbers

By Louise Morrin

For investors wondering if now is the time to scoop up property in St. George, one look at numbers being released by Ray White NSW regarding sales in November should be enough to put things in a clearer perspective.

Data from the organisation show that for the first time in its history, one state market sold one billion dollars worth of property in a single month.

"It reflects that the build up in anticipation was on solid foundation," said Ray White Chairman Brian White in a December press release.

"It was the perfect balance when vendors sensed that an attractive price for their property was going to be possible with the confidence of purchasers that the market still had further upside."

Stephen Nell, Ray White NSW chief executive, said that markets throughout Sydney helped contribute to this milestone. And with figures from RP Data showing huge gains in property values throughout 2013, it's clear that now is the time for potential buyers to purchase real estate in St. George.

With interest rates forecast to remain low for the foreseeable future, demand is likely to remain high in the region. In turn, this makes property investment in St. George and other areas in Sydney a wise decision.

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