Quarterly Market Report
Apartments and Townhouses - Cremorne
Quarter 2 - 2015
Welcome to our market report Wow can the market get any hotter right now? Cremorne has outperformed its first quarter of this year which we thought was going to be tough to beat, but it continues to break records with 3 bedroom apartments, the biggest growth area with a marked increase of 2.4%. 2 bedroom units were a close second with an increase of just over 1%. Strong buyer demand coupled with limited stock being offered appears to be a driving force along with consistent low interest rates. In the second quarter (April to June), there were a total of 46 apartments/townhouses sold in Cremorne, with an average selling price of $968,340. When you compare it to Q1 of 2015, which was $869,500, this indicates a marked increase of $98,840. The government is trying to slow growth down through the media by reporting on so called “property bubbles” and abolishing negative gearing, however the ripples from this do not appear evident yet and winter still remains the best time to sell. So if you are thinking about selling, now is a great time before the influx of spring properties come onto the market. More properties on the market in spring traditionally softens prices due to more properties for buyers to choose from. We would love the opportunity to catch up in person and discuss your real estate plans.
Cremorne Statistics For the 12 months prior to June 2015, the industry’s average days on market for apartments/townhouses in Cremorne was 31. Urban Living by LJH’s average days on market for Cremorne is just 18 for the same period.
Average price
Number sold
Difference from Q1, 2015
1 bed
$592,000
10
-$12,375
2 bed
$907,400
25
+$9,244
3 bed
$1,521,921
11
+$35,850
Average sales prices tracked over the last 12 months $1,050,000 $960,000 $870,000 $780,000 $690,000 $600,000 $510,000 $420,000 $330,000 $240,000 $150,000 Jun 14
Jul 14
Aug 14
Sep 14 Cremorne
Oct 14
Nov 14
Dec 14
Jan 15
North Sydney LGA
Feb 15
Mar 15
Apr 15
May 15
Recent Sales Street Address
Beds
Baths
Cars
Price
16/120 Cabramatta Road
1
1
1
$510,000
40/120 Cabramatta Road
1
1
1
$650,000
27/34-38 Gerard Street
1
1
1
$665,000
6/64-66 Gerard Street
1
1
1
$555,000
311/2 Macpherson Street
1
1
1
$600,000
3/8A Rangers Road
1
1
1
$615,000
4/8A Rangers Road
1
1
1
$630,000
13/8 Rangers Road
1
1
1
$490,000
207/2 Langley Avenue
1
1
1
$555,000
10/30 Rangers Road
1
1
0
$650,000
6/2 Ada Street
2
2
2
$975,000
3/6 Ada Street
2
2
0
$975,000
25/3-7 Bariston Avenue
2
1
1
$1,000,000
15/5 Belgrave Street
2
1
1
$1,140,000
17/232 Ben Boyd Road
2
1
1
$515,000
10/242 Ben Boyd Road
2
1
1
$900,000
7/26 Bennett Street
2
1
1
$915,000
13/26 Cranbrook Avenue
2
1
1
$1,032,000
4/40 Gerard Street
2
1
1
$920,000
2/97-99 Gerard Street
2
1
1
$845,000
12/97 Gerard Street
2
1
1
$865,000
12/57 Grasmere Road
2
1
1
$850,000
2/22 Hodgson Avenue
2
1
1
$910,000
1/36 Murdoch Street
2
1
1
$700,000
9/29 Rangers Road
2
1
1
$950,000
4/2 Spofforth Street
2
2
1
$860,000
17/25 Sutherland Street
2
2
1
$1,115,000
12/30 Young Street
2
2
1
$1,060,000
2/102 Young Street
2
1
1
$826,000
11/102 Young Street
2
1
1
$830,000
2/241 Ben Boyd Road
3
2
1
$1,575,000
8/17 Claude Avenue
3
2
2
$1,480,000
902/3-5 Fifth Avenue
3
2
2
$1,300,000
50/1-7 Hampden Avenue
3
2
2
$1,367,000
4/2-4 Hampden Avenue
3
2
2
$1,372,288
4/8 Parraween Street
3
2
2
$1,153,000
1/43 Tobruk Avenue
3
2
1
$2,950,000
2/56 Young Street
3
2
1
$1,500,000
11/131 Young Street
3
2
1
$1,000,000
35/25 Hampden Avenue
2/22 Hodgson Avenue
7/26 Bennett Street
311/2 Macpherson Street
40/120 Cabramatta Road
Urban Living by LJH is a specialist real estate agency devoted to apartment and townhouse sales. Why choose us? “Sincere admiration & endorsement. Late last year (2014) I made contact with Urban Living by LJH for the purpose of selling my property in Neutral Bay. The sale was sensitive since my actual domicile is in Perth WA and I foresaw that communication might prove an irritant to all parties. I need not have worried. My first (of many) calls to the office was received with wonderful courtesy which set a pattern for the ensuing contacts throughout the period of planning. Ms Rutledge and I struck a comfortable rapport in which she took infinite pains to explain the entire process including the contract protocols, the most suitable publicity procedure and offered sound advice on presentation and timing. I cannot speak more highly of the actual sales experience itself which comprised frequent reports including updates of interested parties and all aspects relating to the “home open” programme up to the time of sale - which, I am happy to say, was most expeditiously accomplished. Ms Clare Rutledge enjoys my sincere admiration and warmest endorsement.” - Dr Atlas, Wyagdon Street
Contact your Urban Living Specialists Clare Rutledge 0422 004 825 crutledge@ljhooker.com Daniel Campbell 0432 736 745
Jason Passlow 0402 182 632 jpasslow@ljhooker.com
LJ Hooker House 102 Glover Street Mosman NSW 2088 9969 1500 mnb.ljhooker.com.au
dcampbell@ljhooker.com Disclaimer: this document is not intended to demonstrate that LJ Hooker was the selling agent for all of these properties. This report shows 3 months of sold properties, however the median prices and market growth is calculated over a 12 month period. All information contained herein is gathered from sources we consider to be reliable. However, we cannot guarantee or give any warranty about the information provided and interested parties must solely rely on their own enquiries.
Bring this coupon in to Shot Cafe on Military for a free coffee and a chat! 1/307 Military Road, Cremorne