2017 Mosman Market Review Adrian Bridges
Word from John McGrath The Sydney and Melbourne property boom that has dominated the real estate landscape for more than five years is over and people are now wondering what’s next? In our 2018 McGrath Report, we look at this plus other key market trends such as the transformation of regional hubs. Let’s start with an overview of the Australian property market. The most frequent question I am asked is “What’s the market doing?”, which is of course impossible to answer as there isn’t one market but rather multiple markets across the country. If we were to take an x-ray view of the property sector, we’d observe two main markets: Sydney/Melbourne and Most Other Places. We have seen the two big cities decouple from the rest of the country and create their own marketplaces, whilst most other regions have been rather lukewarm. This has created a value gap that is too wide, in my view. While I believe the gap is likely to close somewhat over the next few years, it will not be because of a major correction of values in Sydney and Melbourne. Rather, it will happen as other cities play catch up. But while I’m certain that Sydney and Melbourne will take a breather, I’m equally certain there is no bubble about to burst.
John McGrath Founder and Executive Director McGrath Estate Agents
McGrath Mosman results CY17
23
$438m
137
$3.18m
82%
100
DAYS ON MARKET
NUMBER OF SALES
AUCTION CLEARANCE RATE
Source: MARS (McGrath CRM System)
TOTAL VALUE OF PROPERTIES SOLD FY17
AVERAGE SALE PRICE
YEARS COMBINED EXPERIENCE
Outstanding results
1095 Middle Head Road, Mosman Sold price No. of attendees
12 Edwards Bay Road, Mosman $5.28m 65
Sold price No. of attendees
$5.58m 93
No. of open for inspection
6
No. of open for inspection
8
Contracts issued
8
Contracts issued
9
Days on market
29
Days on market
21
Sale method
Expression of interest
Sale method
Auction
Recent McGrath Mosman sales
10 Cross Street Confidential
8 Ryan Avenue $8.5m
2A Bayview Street $7.925m
96 Prince Albert Street $7.2m
10 Arbutus Street $6.05m
27 Gordon Street $5.475m
45 Shadforth Street $4.86m
4 Shadforth Street $3.585m
9 Queen Street $3.5m
28 Wolger Road $2.91m
49 Hale Road $2.575m
78 Holt Avenue $2.425m
Mosman 10 year growth Year
No. of sales
Median
Growth
Low
High
2007
416
$2,200,000
15.80%
$255,000
$22,500,000
2008
272
$2,210,000
0.50%
$128,500
$21,500,000
2009
319
$2,085,000
-5.70%
$22,250
$13,200,000
2010
340
$2,202,500
5.60%
$275,000
$12,600,000
2011
270
$2,315,000
5.10%
$285,000
$19,000,000
2012
286
$2,050,000
-11.40%
$458,000
$20,000,000
2013
370
$2,355,000
14.90%
$400,000
$13,880,000
2014
355
$2,675,000
13.60%
$2,250
$16,300,000
2015
364
$3,127,500
16.90%
$235,000
$21,000,000
2016
309
$3,625,000
15.90%
$1,150,000
$17,349,691
2017
168
$3,837,500
5.90%
$980,844
$22,450,000
Source: Price Finder
Top 10 house sales in Mosman Sale date
Land size
Sale price
1
10 Bay Street
Address
Bed Bath Car 5
6
6
22/03/2017
5,489sqm
$22.45m
2
10 Cross Street
5
6
3
17/11/2017
2,040sqm
Confidential
3
13 Balmoral Avenue
5
5
4
25/08/2017
986sqm
$12.4m
4
75 The Esplanade
6
2
2
16/05/2017
778sqm
$12m
5
11 Warringah Road
4
6
2
05/05/2017
791sqm
Confidential
6
46 The Grove
7
10
8
17/11/2017
886sqm
Confidential
7
7 Hopetoun Avenue
6
3
3
02/06/2017
771sqm
$10.5m
8
2 Mistral Avenue
6
4
2
25/05/2017
1,677sqm
$10.35m
9
17 Balmoral Avenue
5
3
4
15/02/2017
903sqm
$10.3m
10
32 Iluka Road
5
4
2
03/03/2017
712sqm
$10m
13 Balmoral Avenue, Mosman
Source: Price Finder
2 Mistral Avenue, Mosman
10 Cross Street, Mosman
32 Iluka Road, Mosman
Top 10 apartment sales in Mosman Car
Sale date
Sale price
1
4/69 Mandolong Road
Address
Bed Bath 3
3
4
03/06/2017
$5.7m
2
6/40 Almora Street
3
2
3
27/09/2017
$5m
3
2/38 Botanic Road
3
2
2
18/05/2017
$5m
4
4/3 Raglan Street
3
2
1
12/09/2017
$4.9m
5
68A Muston Street
4
2
2
21/03/2017
$4.74m
6
3/2 Lavoni Street
3
2
1
28/04/2017
$4.675m
7
8/48 Parriwi Road
4
2
3
10/03/2017
$4.075m
8
5/40 Almora Street
2
2
3
11/10/2017
$3.975m
9
1/647 Military Road
3
2
2
20/06/2017
$3.3m
10
4/72 Muston Street
3
2
2
18/02/2017
$3.3m
4/69 Mandolong Road, Mosman
Top 10 semi-detached sales in Mosman Address
Bed Bath
1
20 Redan Street
3
Car
Sale date
Land size
Sale price
2
2
26/06/2017
309sqm
$4.7m
2
2/27 Mandolong Road
4
2
3
04/08/2017
763sqm
$4.7m
3
34 Esther Road
3
3
2
05/07/2017
315sqm
$4.4m
4
46 Cabramatta Road
3
2
1
28/07/2017
257sqm
$3.5m
5
1 Glover Street
4
2
1
10/05/2017
257sqm
$3.25m
6
69 Bond Street
4
2
2
16/06/2017
291sqm
$3.05m
7
7 The Crescent
4
3
1
17/06/2017
266sqm
$2.95m
8
56 Cabramatta Road
4
1
1
19/05/2017
344sqm
$2.9m
9
32 Belmont Road
4
4
1
16/09/2017
355sqm
$2.92m
10
24 Dalton Road
3
2
1
31/08/2017
247sqm
$2.91m
24 Dalton Road, Mosman
Recent Mosman sales by Adrian Bridges
12 Edwards Bay Road $5.58m
1095 Middle Head Road $5.28m
15 Sirius Cove Road $4.858m
65 Wolseley Road $4.6m
6 Dalton Road $4.32m
150 Cowles Road $4.115m
130 Awaba Road $3.85m
5/20 Lower Almora Street $2.918m
24 Dalton Road $2.91m
84A Belmont Road $2.73m
7 Bardwell Road $2.45m
39 Bond Street $2.2m
Adrian Bridges and his team
Testimonials “Always available. Keen and upbeat. Knowledgeable about the local property market. Punctual. Caring. Full of fun. He made what could be an ordeal into an exciting adventure.” John and Marianne Huxley, Mosman
“We had used Adrian and his team for our sale and then he went out of his way to find the perfect house for us which was “off market”. He knew exactly what we needed. He is so professional and efficient and also became part of our family during the process. Couldn’t ask for a better service.” Bill and Sarah Banks, Mosman
Ranked amongst Mosman highest performing Agents. Adrian Bridges’ reputation for consistently exceeding client expectations centres on meticulous customer service, attention to detail and inspiring leadership. For expert advice contact Adrian at any time, he operates 7 days a week.
Adrian Bridges adrianbridges@mcgrath.com.au 0414 616 101 Nick Dunn Associate Agent nicholasdunn@mcgrath.com.au Katherine Manettas Client services and Home preparation katherinemanettas@mcgrath.com.au
“We chose Adrian to sell our house as we had been impressed by his enthusiasm, market knowledge and determination. We were extremely pleased across all aspects of our campaign. He is meticulous in his planning and execution progress. He took the stress away from our house sale.” Mark and Kate, Mosman
“Adrian put me at ease as soon as discussions commenced re. sale of my property. The process was smooth and I can guarantee his knowledge of the market as well as charisma got me the best value for my sale.” Bonnie, Mosman
Adrian Bridges adrianbridges@mcgrath.com.au 0414 616 101
mcgrath.com.au