EWINGSDALE EOY REPORT A EDITION
BRAD ROGAN
2022 was action packed in the real-estate space! We started with record growth that peaked in April, resulting in the Byron region being the nation’s most expensive, major housing market. We then experienced and number of impactful events that had continued softening affects on our market for the remainder of the year. This resulted in the Ewingsdale median house price easing from around $3.98m at its peak, to $2.98 by the end of 2022, a drop of 17.5%.
So, what now for 2023? There are 2 major opinions on the market direction: 1. Despite further rate rises predicted, the property values have reached the natural saturation point and will now move sideways throughout the year, or 2, With further rate rises on the horizon, we will see continued easing in prices with the potential for stressed sales to take place until we reach our market low. We expect that the strongest activity for the year to be in the first quarter of 2023. Brad Rogan Ewingsdale specialist bradrogan@mcgrath.com.au 0420 529 112