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LOCATION
Camden Haven’s Premier Property Market Report
Shop 2, 621 Ocean Drive, North Haven NSW 2443 T 02 6559 7007 E admin@northhavenfn.com.au F 02 6559 7277 W northhavenfn.com.au FirstNationalRealEstateNorthHaven
North Haven Your Company
Up, up & SOLD! 2015 kicked off with a bonus for sellers... Welcome to our 5th edition of LOCATION covering the Camden Haven residential property market over a 6 month period from 1 November 2014 to 30 April 2015. The Camden Haven property market picked up pace in October 2014 slowing somewhat in March due to a lack of properties on the market. With 86 residential properties sold by our team in 2014, we were running into 2015 selling properties, in some instances, prior to them being listed onto the market. From 1 January 2015 to 30 April 2015, First National North Haven sold 32 properties – averaging 1 sale every 3.75 days! Sales were up 15% on the same period last year and the number of sales in April alone was up 57% on April last year!
With the lowest interest rates on record and increasing rental returns for our region, the Camden Haven is a solid investment opportunity. Returns have risen by up to 10% in the past two years which has ultimately been driven by an undersupply of quality available homes on the market. If you’ve been following my monthly Stew’s News on our website, you’d be tired of me saying, “It’s a great time to sell!” For the last six months, the Camden Haven has been in the midst of what is known in the industry as ‘a seller’s market’. Our database is brimming
BONNY HILLS
with VIP buyers who have registered their interest on our database and who are watching, waiting and pouncing on properties as soon as we offer a VIP Pre-Listing Preview. This ‘seller’s market’ has seen homes (especially sub $500,000) sell for higher than expected prices. Those thinking of selling their property should see the lack of listings in the marketplace to their benefit as it can have a positive impact on the sale price. If you travel up and down the coast, I believe our residential property prices are relatively affordable compared
CAMDEN HEAD & DUNBOGAN
42 properties sold in Bonny Hills during this 6 month period with volume down 5% compared to May-Oct 2014 and down 26% on the same reporting period last year. The median house price has been increasing each 6 monthly period since we started reporting in November 2012. The median house price was up 8% ($557,433) on last May-Oct 2014 and 13% on same period last year. Note that this median house price was slightly inflated due to the $1.1 million sale of 963 Ocean Drive on 18 November 2014. The median price on land sales ($235,150) increased 4% on previous 2 periods.
Camden Head and Dunbogan are tightly held communities and volume of properties sold were down 27% on previous 6 month period and a staggering 64% on same period last year. However, due to the lack of listings, the median house price increased 17% ($545,950) on May-Oct 2014 and the median unit price increased 12% ($277,500) on the same period last year.
BONNY HILLS
CAMDEN HEAD & DUNBOGAN
Volume Sold Compared to Region
Volume Sold Compared to Region
250 200 REGION
150
TVU
100
Land
50
House
0 Nov 12 - May 13 - Nov 13 - May 14 - Nov 14 Apr 13 Oct 13 Apr 14 Oct 14 Apr 15
180 160 140 120 100 80 60 40 20 0
REGION TVU Land
House
Nov 12 - May 13 - Nov 13 - May 14 - Nov 14 Apr 13 Oct 13 Apr 14 Oct 14 Apr 15
NOTE: ‘REGION’ is defined by the following suburbs in the Camden Haven - Bonny Hills, North Haven, Laurieton, Camden Head, Dubogan, West
WHERE DID OUR BUYERS COME FROM
?
PERIOD: 1 Nov 2014 to 30 Apr 2015
Local
39% 46%
Sydney Central Coast Hunter Interstate Overseas
WERE THEY OWNER OCCUPIERS OR INVESTORS
?
to many other towns. The Camden Haven has great facilities, easy access to major cities and a great coastal lifestyle to match! There is an interesting trend emerging in buyer attitudes towards low maintenance lifestyle properties from the baby boomers as evident with the growth in sales of gated communities such as Ocean Club Resort and the newly released Laurieton Residential Resort. This shift is resulting in an increase in approvals for medium density housing, in particularly, around Lake Cathie and Bonny Hills. Combined with strong demand for villas in Laurieton, it shows buyers’ attitudes have certainly changed since I started my real estate career.
There will be baby boomers who do desire the traditional coastal retirement home, however it is becoming less of a necessity when compared to a location with easy access to all amenities, low maintenance and quality inclusions and a ‘lock and forget’ mentality as many hit the road travelling. The Sydney, Central Coast and Hunter regions continue to show no signs of slowing and, with strong growth in these areas (except the Upper Hunter), we continue to find most of our buyers from these regions. With extra cash in their pockets and quick sales, they are buying into a higher price bracket and looking for a better quality and style of home.
SO, WHAT’S THE OUTLOOK FOR THE REST OF 2015? With the current lack of homes coming onto the property market along with record low interest rates, the Camden Haven will experience price increases as the growing demand for investment properties from out-of-towners continues to dominate our market. My team at First National North Haven welcome the opportunity to share our knowledge and expertise with you. As the market leaders in our region, we invite you to experience our difference.
Stewart O’Brien Principal/Licensee 0409 707 441 stewart@northhavenfn.com.au
LAKEWOOD
LAURIETON
14 properties sold in Lakewood down 50% on May-Oct 2014 and down 14% on same period last year. The median house price increased 11% ($420,208) on May-Oct 2014 and 18% on same period last year. Land median price was up 29% ($210,000) on same period last year mainly due to the lack of available land. The median price for Townhouse/Villa/ Unit (TVU) this period was $272,000.
The Laurieton market has been moving with 32 properties sold between November 2014 and April 2015—up 28% on previous 6 months. The median house price increased 10% ($403,533); median land price up 5% ($307,500) and Townhouse/Villa/Unit (TVU) up 8% ($373,550). It is interesting to note that compared to two years ago (Nov 2012 to Apr 2013) the median house price has increased 17%; median land price increased 50% due to development site sales and median TVU price up 30%.
LAKEWOOD
LAURIETON
Volume Sold Compared to Region
Volume Sold Compared to Region 200
180 160 140 120 100 80 60 40 20 0
150 REGION TVU
Land House Nov 12 - May 13 - Nov 13 - May 14 - Nov 14 Apr 13 Oct 13 Apr 14 Oct 14 Apr 15
REGION 100
TVU
Land
50
House
0
Nov 12- May 13- Nov 13- May 14- Nov 14Apr 13 Oct 13 Apr 14 Oct 14 Apr 15
Haven and Lakewood and ‘TVU’ is abbreviated for Townhouse, Villa & Unit.
Owner Occupier
26% Investor
74%
FIRST NATIONAL NORTH HAVEN Total Volume Residential Sales PERIOD: 1 Nov 2014 to 30 Apr 2015
First National North Haven
Market leaders in our region
NORTH HAVEN
WEST HAVEN
17 properties sold in North Haven increasing volume up 12% on May-Oct 2014 and same period last year. The median house price dropped slightly to 3% ($447,500) due to an anomaly resulting from the record sale price on 15 Bridge St in the previous 6 month period. However, the median price for Townhouse/Villa/Unit (TVU) rose a strong 16% ($413,875) compared to May-Oct 2014 and 7% on same period last year.
Volume of properties sold in West Haven was down 40% on the same reporting period last year (Nov 13—Apr 14). However, the median house price increased 10% ($428,750) compared to same period last year.
NORTH HAVEN
WEST HAVEN
Volume Sold Compared to Region 180 160 140 120 100 80 60 40 20 0
Volume Sold Compared to Region
REGION TVU Land
House
Nov 12 - May 13 - Nov 13 - May 14 - Nov 14 Apr 13 Oct 13 Apr 14 Oct 14 Apr 15
180 160 140 120 100 80 60 40 20 0
REGION TVU
Land House Nov 12 - May 13 - Nov 13 - May 14 - Nov 14 Apr 13 Oct 13 Apr 14 Oct 14 Apr 15
To get SOLD you need the market leaders
SOLD 3 March 2015 LAKEWOOD 221 - 223 Ocean Drive
SOLD 17 April 2015 WEST HAVEN 4 Seltin Glen
North Haven Your Company
SOLD 4 March 2015 LAKEWOOD 8 Teal Close
SOLD 11 February 2015 LAURIETON 10 De Fraine Lane
We drive MORE BUYERS to your door!
At First National North Haven we take the time to thoroughly research the property market in our backyard as well as draw comparisons with what is happening nationally. All our data is sourced from Core Logic RP Data, the leading provider of consumer, financial and property information, analytics and services to business and government. Core Logic RP Data is independent of real estate, media and banking interests whose collection of data, analysis and research methods are audited regularly. This 5th edition of our market report covers all residential properties sold from 1 November 2014 to 30 April 2015 for the suburbs of Lakewood, West Haven, Laurieton, Dunbogan, Camden Head, North Haven and Bonny Hills. This report does not include relocatable homes or properties sold privately and in this 6 month period omitted the 2 blocks of residential units sold – 6 Tunis St Laurieton and 55 The Boulevarde Dunbogan.