Mona Vale Property Report | January-June 2014 | Adrian Hybner

mona vale property report january - june 2014 Adrian Hybner

Mona Vale Property Report | January - June 2014

The Mona Vale housing market has again enjoyed a buoyant past six months with continued buyer demand and strong auction clearance rates. During the first four months of this year we witnessed the high end market increase its transaction numbers three fold from January to June last year, whilst all other sectors remained firm.

Over the past two months we have seen strong buyer demand and results off the back of exceptionally low supply through both the apartment/townhouse and freestanding house market. Despite demand remaining strong, there are fewer sellers due to a combination of factors including the large volume of sales turnover seen during the past 18 months, traditional seasonality, and limited supply for sellers to purchase after they have sold.

With the traditional influx of Spring stock forecast for mid September, the immediate future represents a perfect time to consider your next steps in real estate.

If you would like any further information or would like to discuss any of your real estate needs, I would be delighted to be of assistance.

Adrian Hybner M 0410 644 985 D 8914 3200 E adrianhybner@mcgrath.com.au

Proud Major Sponsor of Mona Vale Surf Life Saving Club

Top 15 Mona Vale Sales | January - June 2014 † Address

†

*Sold by McGrath

Sale Price

Sold Date

Bed

Bath

Car

Land Size

17 Bruce Street

$4,225,000

07 Feb 14

4

3

2

540sqm

11 Surfview Road

$4,000,000

13 May 14

5

5

3

823sqm

46 Rednal Street

$3,435,000

24 Feb 14

5

3

3

1,012sqm

176 Narrabeen Park Parade

Confidential

28 May 14

4

2

1

-

68 Elimatta Road

$2,250,000

24 May 14

5

3

4

1,643sqm

20 Hillcrest Avenue

$2,180,000

22 Feb 14

3

1

2

1,230sqm

38 Cook Terrace

$2,010,000

03 Apr 14

4

3

2

725sqm

93 Narrabeen Park Parade

$1,892,000

15 Feb 14

2

1

109/102 Darley Street

$1,800,000

16 May 14

3

2

2

-

15 Cook Terrace

$1,680,000

14 Mar 14

5

3

2

629sqm

23 Elimatta Road

$1,520,000

31 Jan 14

6

3

1

874sqm

2/2 Bassett Street

$1,510,000

20 Feb 14

3

2

2

-

1/147-149 Darley Street

$1,510,000

23 Apr 14

3

2

2

-

28 Parkland Road

$1,510,000

25 Apr 14

5

3

2

699sqm

31 Elimatta Road

$1,500,000

26 Mar 14

4

3

3

721sqm

565sqm

Excludes off-plan and new development sales

Mona Vale Statistics | January - June 2014 Number Sold

Median Sale Price

Growth

Total Value

Houses

47

$1,199,488

3.60%

$56,375,936

Apartments

70

$718,333

-2.00%

$50,283,310

This information in this report is being provided by RP Data and MARS (McGrath’s CRM System), its accuracy cannot be guaranteed. Parties should rely on their own enquires and McGrath will not be liable for error or admissions herein.

20 Hillcrest Avenue

68 Elimatta Road

23 Elimatta Road

31 Elimatta Road

Mona Vale Price Growth Houses

Apartments

30% 24.8%

18.3%

20% 15.1%

20%

10%

3.6% 10.9% 0.5%

0% 0.8% -2%

-10% -10.9%

-20% 2010

2011

2012

2013

2014

Mona Vale Buyer Origin | January - June 2014 7% 13% Within 5km of Mona Vale Mona Vale

47%

13%

Lower North Shore/Manly LGA Upper North Shore/Hills International

20%

Mona Vale - Number of Properties Sold Apartments / Townhouses

250

Houses

200

166

165

164

150 145

128

127 115

113

114

118 109 108

100 92 82

70

50 47

0 2007

2008

2009

2010

2011

2012

2013

2014

There have been some large factors influencing market turnover over the past 7 years showing noticeable increases and decreases in both houses and apartments/townhouses. These include the Global Financial Crisis, changing first home buyer grant bonuses (impacting the lower end apartment sales), low interest rates, consumer confidence, changes in Government, trend changes in area demographics, and the large increase in the downsizer/empty nesters.

John McGrath - Message from the CEO

It’s certainly been one of the most exciting years we’ve had in Sydney over the financial year 2014, with the market recovery well underway and good activity in all price brackets.

The first six months of 2014 saw the buying frenzy under $2M continue, with a slight tapering after Easter. Year-to-date, median prices are up a very healthy 5.7% for houses and 4.6% for apartments, according to RP Data’s end-of-financial-year report.

One of the biggest changes in the market this year is movement in Sydney’s prestige sector.

We saw a few big sales here and there in 2013 but there is actual momentum in prestige property this year.

My instinct is we are starting to reach a point in Sydney where buyers are feeling concerned about paying too much. That doesn’t mean price growth is about to stop. Most likely we are entering a period of stabilisation, which is a really important step in a new growth cycle.

John McGrath CEO McGrath Estate Agents

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McGrath’s Auctioneering Excellence

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McGrath China Desk

We have a dedicated Asia specialist who facilitates all McGrath agents when dealing with Chinese background clients, to ensure that communications are understood and transparent. *McGrath’s database of potential, qualified buyers currently includes approx. over 200,000 entrants at July 1, 2014

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