Sutherland Shire property market on the rise despite lockdown

Highland Property Group has seen strong growth in the Sutherland Shire despite Sydney’s ongoing lockdown.

The Announcement:

The Sutherland Shire property market has been “discovered” over the last year with staggering growth in property values and low rental vacancy, with the last year showing an unprecedented surge in activity despite the COVID-19 crisis.

Highland Property Group noted they lifted the number of sales by 50 per cent to more than 1000 properties, worth over $1.5 billion over the financial year.

Highland Property Group has started the new financial year with accelerated growth, reporting more than 100 property transactions worth over $150 million in July alone, with projections of further double-digit growth for the group in the current financial year.

Managing Director of Highland Property Group, Mr David Highland, said “We are amazed at the heightened activity over the last month when the city has been in lockdown, with many buyers purchasing houses and apartments through online auctions – some sight unseen – leading to a 100 per cent online auction clearance rate.

“The secret of the Shire is now out and the days of the area’s median price lagging behind other coastal areas of Sydney have passed, with people flooding into the market from many other city areas on the back of its many lifestyle qualities and natural features, including beaches and waterways.

CoreLogic data shows the median home price in the Shire has grown 9.18 per cent for homes to $1.33 million over the last year, as well as 4.3 per cent to $780,000 for apartments – one of the state’s fastest growing markets.

Mr Highland said the combination of low interest rates, limited stock and the attractive Shire beach lifestyle had all contributed to the heightened buyer activity.

He added, “Our team of 100 staff are working hard to get more properties to the market in shorter timeframes, with an extraordinary number of properties currently being sold through our online auction platform and at times under one week.

“The Federal and State Government home buyer schemes are certainly contributing to the heightened activity among first home buyers,” said Mr Highland.

Celebrating 14 years of operations, Highland is currently representing more than 50 property developers across the Eastern Seaboard, with plans to expand its new offices in other parts of Sydney and Queensland in response to demand for its services.

The group provides a full-service proposition to all parts of the market including; buyers and sellers, tenants and landlords, home finance and insurance, commercial property sales, property management and project marketing, as well as a concierge platform focused on supporting every stage of the consumers property journey.

Mr Highland said “Last financial year, we serviced over 4,000 clients throughout the group by delivering what is effectively a one-stop shop in property, with customer service the key to our proposition. We are investing heavily in technology to keep up with what is a rapidly evolving market, whose heart has shifted to online search, purchase and management.

“Being part of the fabric of the local area through our $1.5 million worth of support over the last 14 years to schools, charities and sport clubs, has also played an important part in our success,” concluded Mr Highland.

Source: City Public Relations

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