Who’s got top market share?
With 165 sales in the past 12 months, Norwood is a buzzing property market. Home values have increased significantly in the last 12 months with Domain data showing us that the median house price has lifted from around $610,000 last year to where it sits today at over $700,000.
Let’s look at the top market share positions today. Toop & Toop holds the highest share at 15 per cent. LJ Hooker sits in second position with 10 per cent, followed by Harcourts and Harris Real Estate both with 4 per cent market share.
The Norwood market suits investors, with nearly 50 per cent of residents renting and plenty of apartments at the more affordable median price of $480,000. Corelogic RP Data tells us the average two bedroom apartment in Norwood will rent for $330 per week, giving savvy real estate businesses the opportunity to build a successful sales and property management operation.
The opportunity to open a business in the heart of Norwood is with Ray White. If it’s an area of interest for you, we can help you build a competitive business. Talk to us today.
Contact:
Andrew McCulloch | +614 7903 9440
