Priceless predictions - 20th September, 2007

It’s one thing to analyse market movements and trends after the fact; it’s quite another to predict what will happen next. This takes a very practised understanding of the local interplay of a number of critical factors, the most obvious of which is recent house prices and how they plot on traditional real estate cycles. Far less clear-cut factors include projected infrastructure developments, population movements, aesthetic trends and national economic indicators. In short, it’s far from an exact science but it is one that serious real estate agencies strive to master because, at the end of the day, it’s the information people really need to make sound real estate decisions. Century 21 Westside has been closely following movements and trends within our local postcodes, enabling us to send out quarterly suburb reports to local residents and to more accurately predict what will happen next. (If you haven’t received one, please give our office a call and we’ll happily mail a copy of the latest report for your suburb.) Demonstratively our recent analysis and media commentary about Brookfield’s emergence as the prestige suburb of the west led to our prediction of a record price being achieved for a stunning non-acreage home in Jamieson Place. Selling for just under $1.2 million, the home stood to attract such a price not only because it is a very impressive home on an elevated block but also because all indications are that Brookfield prices will continue to rise as gentrification continues and prestige buyers look outside of their normal comfort zones for lifestyle value and geographic exclusivity. Congrats to both the buyer and seller of Jamieson Place – you’ve both made excellent decisions! Until next week … Gerard Baden-Clay, Principal Century 21 Westside