Welcome Welcome to our first newsletter for 2015! We hope you and your family had a fantastic Christmas and we wish you all the very best for the new year. Our team has hit the ground running with some great new listings about to go online.
John Paranchi T 02 9816 8110 M 0411 508 890 E johnparanchi@mcgrath.com.au
The Local Market We had an exciting finish to 2014 with a new suburb record set in Putney at $4.25M (34 McGowan Street) and a new non-waterfront record also set at $3.5M (22 Watson Street).
slow down somewhat in 2015 but it is still an excellent time to sell and realise these phenomenal capital gains. Local suburbs will all move a little differently with some doing better than others.
Our final sale for the year was 22 Gregory Street, Putney, which was originally scheduled for auction in February but after matching it to a particular database buyer, it sold for $1.906M.
We expect market momentum to continue this year. There was a hiccup late in 2014 when a rush of stock across Sydney resulted in weakened clearance rates down from 80%-plus to the 70% range. Still an impressive rate of sale though and certainly indicative of continuing demand.
Sydney house values rose 13.4% in 2014 – an exceptional rate of growth particularly following the 15.2% price jump recorded in 2013, according to RP Data. Locally, median house prices also rose by 12% in Gladesville; 11% in Putney; and 25% in Tennyson Point (low volume of sales). It is inevitable that this extreme rate of growth will
If you are considering selling, please call me for a free no-obligation appraisal on 0411 508 890 today.