FRANCESCA PARRINO WINTER REVIEW BEROWRA & BEROWRA HEIGHTS 1 JULY 2015 – 30 JUNE 2016
Francesca Parrino
I thought it appropriate to start my review of our local market in the last financial year by sharing a portion of our CEO, John McGrath’s market update. “There is an old saying in Australian Real Estate that property prices double every 10 years. The reason many people are sceptical of this equation is because this price doubling does not occur in a uniform line. There is no neatly rounded 10% price gain every year in every market – we see low growth years and high growth years but when you add them all up over 10, you get about double growth” The above is a perfect description of what our local market has done over the last 12 months. The first quarter from July to September, 2015 which would normally mark the beginning of the cooler market saw the opposite happen with the few properties on the market achieving way above vendor expectations. It can easily be described as a frenzy – buyers were desperate to get into Berowra and Berowra Heights and were prepared to pay unsustainable prices to secure a home. Some examples are listed below: 39 Lonsdale Avenue, Berowra Heights – partly renovated 3 bedroom home was on the market for 10 days and sold for $1,050,000 ($100,000 over the asking price of $950,000) 124 Berowra Waters Road, Berowra Heights – original 3 bedroom fibro cottage was on the market for 16 days and sold for $840,000 ($90,000 over the asking price of $750,000) 154 Turner Road, Berowra Heights – fully renovated 5 bedroom home was on the market for 19 days and sold for $1,300,000 ($100,000 over the asking price of $1,200,000) It’s easy to see why vendors who may have delayed their sale, quickly decided to get on the band wagon and put their property on the market in spring. Our second quarter, October to December, saw the largest amount of properties to ever hit the market in our suburb. The market shifted as buyers now had the luxury of choice and taking the urgency element away. Days on market typically doubled and price reductions were occurring as the market corrected itself. This correction has carried through to 2016 and we have now come to the end of the financial year with a sustainable market. There are currently 24 properties on the market which provides choice but not a flooded market and prices achieved are very close to vendor expectations. In conclusion, I quote John McGrath’s words again “When we look at property over a 10 year period, it’s easy to see how well people can do out of bricks and mortar. It’s also a great reminder that the time to buy is always as soon as you can afford it, because no matter where we are in the cycle when you buy, the odds are you will double your money over the ensuing decade. Just be conscious that it won’t happen in a straight line and you have to be prepared to ride out the lacklustre years in order to enjoy the phenomenal boom years”.
Capital Growth in Median Prices (Houses) Berowra
Berowra Heights
Hornsby LGA
Period
% Change
% Change
% Change
2015
12.1%
20.1%
21.6%
2014
15.0%
19.8%
20.0%
2013
11.0%
1.9%
12.1%
2012
-0.9%
9.6%
1.1%
2011
1.2%
0.2%
0.7%
2010
12.1%
7.8%
12.7%
Berowra House Sales – Last 12 months Number Sold
Median
Average
Highest
Lowest
56
$956,000
$971,348
$1,350,000
$663,500
Top 5 Berowra House Sales – Last 12 months Address
Bed
Bath
Car
Sold Date
Land Size
Sale Price
1
11A Yeramba Crescent
5
3
2
29 July 15
654sqm
$1,350,000
2
32 Balaclava Road
3
1
-
30 Sep 15
794sqm
$1,250,000
3
12 Preston Way
4
-
-
8 Oct 15
2617sqm
$1,225,000
4
22 Yarrabin Crescent
5
3
2
20 Nov 15
671sqm
$1,200,000
5
25 Cumbora Circuit
5
3
2
4 Mar 16
777sqm
$1,200,000
Berowra Heights House Sales – Last 12 months Number Sold
Median
Average
Highest
Lowest
60
$913,061
$947,142
$1,370,000
$635,000
Top 5 Berowra Heights House Sales – Last 12 months Address
Bed
Bath
Car
Sold Date
Land Size
Sale Price
1
34 Blue Ridge Crescent
6
3
2
16 Mar 16
1540sqm
$1,370,000
2
22 Holliday Crescent
6
3
2
12 May 16
751sqm
$1,305,000
3
154 Turner Road
5
3
2
8 Oct 16
702sqm
$1,300,000
4
141 Turner Road
5
4
3
14 May 16
836sqm
$1,240,000
5
10 Wideview Road
4
2
2
12 Feb 16
696sqm
$1,190,000
Notes: (i) This information is being provided by Australian Property Monitors and RP Data, its accuracy cannot be guaranteed. Parties should rely on their own enquires and McGrath will not be liable for error or admissions herein.
“Dear Francesca, As we feel we are finally catching our breath after our big move, we would like to take this opportunity to thank you for the huge effort you put in to ease us through an experience a lot of us think is just too hard at our time of life. We were very happy to be guided, as we were confident of your knowledge of the local market, who would be looking to buy our home, real estate conditions at this time and, importantly, your sense of style. We also appreciated your enthusiasm and upbeat approach, your attention to detail and the sheer hard work you and your team contributed to our sale. At a time when we clients were feeling a bit out of our depth it was wonderful to have a knowledgeable and patient soul to explain the processes to us whenever we needed to call for reassurance.� John & Jill Ingram
Francesca’s Berowra Sales – Past 12 months Address
Bed
Bath
Car
Sold Date
Landsize
Sale Price
17 Berowra Waters Road
3
1
1
24 May 16
579sqm
$782,000
2 Dowrena Place
4
2
1
23 May 16
689sqm
$910,000
2A Waratah Road
4
2
2
20 May 16
500sqm
$1,050,000
62 The Gully Road
4
2
2
20 Apr 16
566sqm
$1,080,000
3 Acacia Road
4
2
2
18 Apr 16
695sqm
$1,005,000
25 Cumbora Circuit
5
3
2
4 Mar 16
777sqm
$1,200,000
18 Holliday Avenue
4
2
2
20 Jan 16
743sqm
$1,080,000
17 Gwandalan Crescent
4
4
2
15 Jan 16
1087sqm
$1,050,000
29B Hillcrest Road
4
2
3
23 Dec 15
627sqm
$990,000
10 Yallambee Road
-
-
-
12 Dec 15
885sqm
$635,000
62 Bambil Road
4
2
2
8 Dec 15
1024sqm
$900,000
12 Yallambee Road
3
1
2
28 Nov 15
739sqm
$700,000
56 The Gully Road
4
2
2
26 Nov 15
551sqm
$1,080,000
22 Yarrabin Crescent
5
3
2
20 Nov 15
671sqm
$1,200,000
4 Adam Close
4
2
4
10 Nov 15
813sqm
$1,200,000
56 Koloona Street
4
2
2
28 Oct 15
732sqm
$1,130,000
2/19 Anembo Road
4
3
1
23 Oct 15
324sqm
$855,000
973A Pacific Highway
3
1
2
18 Aug 15
500sqm
$825,000
8 Yallambee Road
4
2
2
14 Aug 15
961sqm
$1,080,000
11 Yarrabin Crescent
4
2
2
4 Aug 15
729sqm
$1,096,500
11A Yeramba Crecsent
5
3
2
31 Jul 15
654sqm
$1,350,000
60 The Gully Road
5
2
2
15 Jul 15
562sqm
$1,110,000
Francesca’s Berowra Heights Sales – Past 12 months Address
Bed
Bath
Car
Sold Date
Landsize
Sale Price
69 Barnetts Road
5
3
2
2 May 16
929sqm
$1,190,000
31 Easton Road
4
2
2
29 Apr 16
665sqm
$880,000
21 Cambewarra Crescent
3
2
1
27 Apr 16
739sqm
$925,000
64 Wideview Road
3
1
1
26 Apr 16
695sqm
$862,000
18 Lonsdale Avenue
3
2
2
15 Apr 16
629sqm
$820,000
79 Lonsdale Avenue
3
2
2
13 Apr 16
577sqm
$900,000
5 Wingaire Place
3
2
2
4 Apr 16
750sqm
$970,000
11 Beatrice Close
4
2
1
29 Mar 16
765sqm
$911,123
34 Blue Ridge Crescent
6
3
2
16 Mar 16
1540sqm
$1,370,000
7 Lingellen Street
3
1
1
23 Feb 16
771sqm
$735,000
66 Lonsdale Avenue
3
1
3
23 Feb 16
792sqm
$885,000
4 Evelyn Crescent
3
1
2
16 Feb 16
739sqm
$887,250
10 Wideview Road
4
2
2
12 Feb 16
695sqm
$1,190,000
24 Easton Road
4
2
1
12 Jan 16
1034sqm
$930,000
10 Evelyn Crescent
4
2
1
20 Nov 15
752sqm
$990,000
90 Alan Road
5
3
2
5 Nov 15
822sqm
$1,120,000
8 Evelyn Crescent
3
1
1
28 Oct 15
739sqm
$982,500
99 Woodcourt Road
4
2
2
27 Oct 15
695sqm
$950,000
154 Turner Road
5
3
2
15 Oct 15
702sqm
$1,300,000
124 Berowra Waters Road
3
1
2
31 Jul 15
501sqm
$840,000
39 Lonsdale Avenue
3
1
1
18 Jul 15
935sqm
$1,050,000
17 Cambewarra Crescent
3
2
2
17 Jul 15
2194sqm
$1,050,000
“Francesca has it all. Professional, passionate and personal. In a tough market, persistence and confidence won out. A deal was done. Now it’s your turn, give Francesca a call.” Derek Conolly
A Winning Combination
Francesca Parrino D 8914 8812 M 0415 651 740 E francescaparrino@mcgrath.com.au Jessica West D 8914 8814 M 0439 077 378 E jessicawest@mcgrath.com.au
Madeline Morey D 8914 8820 M 0434 300 872 E madelinemorey@mcgrath.com.au