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The peninsula experienced another weekend of low auction numbers.  Not much stock was on offer; most under the $1,000,000 mark with less than a handful of homes successfully reaching a sale on the day.   Thankfully 3 Oak Grove Mount Eliza put some sizzle into an uninspiring weekend.  This 4 bedder in the Golden Mile; or triangle as it’s become; successfully sold at the higher end of its advertised EPR for $1,915,000 under the guidance of Community First Real Estate Mount Eliza. 45 & 61 Waterfall Gully Road Main Ridge, both passed in on bids of $1.8M & $1.5M, Nicole McCarthy of Ray White Rye is in discussions with several parties and confident of a sale over the next few weeks.

Plenty of mainstream media hysteria being presented on the decline in property prices, this is somewhat countered by recent articles from respected industry authorities, presenting a position of common-sense, the problem with common-sense is that it’s not that common.  It is fair to say that the fear lands at the feet of investors and those with interest only loans maturing over the next 24 – 36 months.  If you’re a homeowner paying down a principal and interest mortgage you can take a deep breath; the market for you is stable. You’re not going to see the rapid increases we’ve experienced over the past 12-24 months however you wont see the rapid decline either.  

Worth a Read

This weeks best pick.

2 Bay Avenue Mount Eliza
4 Bedroom 2 Bathroom 1258sqm approx. Stunning bay views and just a few steps from Canadian Bay Beach.  Well priced quality Mount Eliza property in the Golden Mile Triangle sells. 
$1,995,000 – $2,150,000
Hocking Stuart Mount Eliza



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