MARKET UPDATE BARDIA

There has been a slowdown in the sales of completed homes in Bardia over the past few months, with a very modest 1 transaction in July, mirroring the previous months 1 sale also.

As an ever-growing suburb, with a large number of new homes being constructed, the number of transactions will no doubt increase in the future.

Sydney clearance rates continue to hover around a modest 50% with the SW of Sydney reporting a clearance rate of around 40% for the month of July (source rpdata).

The one factor which has had a major impact on the market has been the Royal Commission into the banking sector which has seen a number of changes to the lending environment.

As a result of all these changes, the mortgage market has changed. The amount borrowers can borrow relative to their income has generally been reduced, resulting in an overall softening of prices being achieved and properties taking a little longer to sell.

Bardia, however is still proving to be a popular destination for buyers looking in the SW of Sydney with the close proximity to Edmondson Park train station and other amenities being a big drawcard, along with the large amount of infrastructure being developed at Ed Square and the proposed new airport at Badgerys Creek.

“No other agent has sold more property in Bardia than Urban Land Housing“