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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
Welcome to the 4th edition of Location. This edition highlights that our region has begun to heat up with buyer demand stengthening property values. At First National North Haven we take the time to thoroughly research and understand the property market in our backyard as well as draw comparisons with what is happening in the property market across the nation. The 4th edition of our market review covers all residential properties between Lakewood and Camden Head/Dunbogan and Bonny Hills during the six month period from 1 May 2014 to 31 October 2014. This research does not include relocatable homes or properties sold privately that are retained within the family. All data is sourced from RP Data (now known as CoreLogic RP Data), the leading provider of consumer, financial and property information, analytics and services to business and government. RP Data is independent of real estate, media and banking interests whose collection of data, analysis and research methods are audited regularly. If you have any questions regarding our 6-monthly report or if you are thinking 2015 is the time to relocate please give me a call.
Stewart O’Brien | Principal/Licensee m 0409 707 441 | stewart@northhavenfn.com.au
The Camden Haven’s property market heats up First National North Haven experienced a significant shift in the Camden Haven property market earlier this year with a scarcity of new property listings and a growing pool of cashed up buyers. Buyer enquiries had never been so strong for properties in the price range $350,000 to $550,000.
MAY TO OCTOBER A Snapshot Of Our Backyard The average sale price of houses in the Camden Haven increased across many suburbs compared to the previous six months with growth of 5% in Bonny Hills, 7% in Lakewood, 2% in Laurieton and West Haven and 5% in North Haven.
Record numbers of buyers attended our VIP Property Previews with several properties selling prior to being released onto the market.
Bonny Hills experienced an 18% increase in the average sale price of residential land compared to the same period last year due to the release of land in the White Sands residential estate which has set a new bench mark in the area.
There were 125 residential properties sold for this six month period down 15% on previous 6 months (Nov 2013 to Apr 2014) and down 6% on the same period last year (May 2013 to Oct 2013).
We experienced a new property season, “SPRINTER”, where Spring sprung early in the last month of Winter bringing new listings and auction campaigns.
However, with the shortage of properties on the market, sale prices improved but the level of growth has been nothing like the metropolitan markets in Sydney and Melbourne.
The market became quite buoyant from the Spring school holiday period through to October with 26 residential sales* registered between Lake Cathie to Lakewood. A big percentage of our buyers were surprisingly from the immediate local area which is a positive sign for the local economy and market.
MEDIAN RESIDENTIAL SALE PRICE May-Oct 2014 Compared to Previous Six Month Period
TOTAL NUMBER OF RESIDENTIAL SALES In the Camden Haven between May – Oct 2014
Is Australia’s property market starting to crack? MAY TO OCTOBER - A National Snapshot After months of gloomy predictions about our economy in the media, a lift in exports In June suddenly turned the tables. Disappointingly, the financial media turned its attention to the likelihood of an interest rate rise.
Bonny Hills was the dominant suburb due to an increase in the number of residential land sales First National North Haven is committed to helping our clients achieve their real estate goals and over the last few months launched a number of new initiatives including our Investment Property Health Check which provides smoke alarm maintenance and a property safety audit to assist landlords in reducing their risk of litigation. We also launched a new marketing initiative becoming a Friendly Auction Accredited Agency which has been gaining positive support from both vendors and buyers. Our community spirit brought together a collaboration of people power as many infrastructure projects were undertaken—Beach to Beach Riverwalk, North Haven Wall Reserve, Schools to Schools pathway—all these projects highlighting the benefits of our backyard. Tenders are currently underway for the replacement of Stringray Creek Bridge and the North Haven Community Hall renovations are now complete giving the community a venue to be proud of. As 2014 speeds to a close, the momentum of strong property sales will continue into 2015. Buyers and investors have found the Camden Haven to be a premier location to move to or invest in and, for the first time in my 8 years of property sales, I am seeing some outstanding sale prices and what appears to be a mini-boom in actual sales. * SOURCE: realestate.com.au
The ASX Futures market has predicted the next rate rise will be around September 2015. This is by no means a guarantee, as the ASX Futures is subject to every economic influence imaginable, but its forecast is very different from the media’s. The Real Estate Institute of Australia also announced rates should remain on hold following the recent release of the ABS housing finance figures which reflect a stable market. Surging house prices in Sydney and Melbourne continue to feature prominently in the media and debate endures about whether this is the result of our low interest rate environment, foreign investment, or Australia’s perennial shortage of housing. Yet again, the media jumped on the news cycle over-emphasising small changes in market conditions when it was announced that Sydney and Melbourne’s auction clearance rates slipped marginally in October, leading to questions about whether the market has started to crack. Added to this, conflicting data contributes to general confusion while warnings of a ‘housing bubble’ (notably from foreign economists who don’t understand the Australian property market) adversely affects the confidence of first home buyers. The reality is that no single contributing factor can be considered in isolation when it comes to house prices. They move in cycles and are substantially driven by confidence.
Slowdown ‘premature’
BIS Shrapnel says fears of a
downturn in the Sydney market are ‘premature’ and that it expects to see further strengthening over 2014/15 and 2015/16. While some ‘experts’ suggest the market has peaked, BIS says the strength of the market lies in low vacancy rates, low interest rates, relatively attractive yields and expectations of capital gains.
Some good news
Lending hit a six and a half
year high in June where total lending rose 7.6% and business lending 12.1%. This means lending has now returned to pre-GFC levels. Across Australia, the average number of days that it takes to sell an appropriately priced property is now 58.5 days compared to the 12 months to March 2014, where houses average 80 days to sell and units 75 days. Current property prices are considered well supported and there is no indication evident that prices have peaked in the property cycle. Several factors are certain—Australia will continue to be attractive to migrants; Sydney and Melbourne will continue to be competitive buyer markets, and Australian property will continue to be a reliable long term investment delivering stability and wealth to Australians.
First National North Haven
Market leaders in the Camden Haven real estate market First National North Haven leads the field when it comes to selling property in the Camden Haven. Our award winning team is dedicated, enthusiastic and motivated to bring you the best outcome whether you’re buying, selling or leasing.
LOCATION
PROPERTY SPECIFICATIONS Land m2 Bed Bath Car
P | 02 6559 7007
SALE DATE
SALE PRICE $239,000
-
-
-
12/05/14
460
-
-
-
13/05/14
$219,000
Duplex
701
3
2
4
21/05/14
$599,000
Lot 3, 995 Ocean Drive
Land
500
-
-
-
13/06/14
$239,000
16 Northwind Crescent
House
696
4
2
2
20/06/14
$455,000
Lot 5, 995 Ocean Drive
Land
502
-
-
-
8/07/14
$245,000
Lot 8, 995 Ocean Drive
Land
455
-
-
-
1/08/14
$245,000
36 Kendall Crescent 3 Grenadines Way
House House
826 736.4
4 4
2 2
2 5
8/08/14 29/08/14
$465,000 $715,000
5 Honeysuckle Road
House
575
3
2
2
13/09/14
$583,000
Land
453
-
-
-
25/09/14
$239,000
House
468
4
1
1
29/09/14
$485,000
Lot 11, 995 Ocean Drive
Land
451
-
-
-
7/10/14
$235,000
Lot 16, 995 Ocean Drive
Land
450
-
-
-
9/10/14
$235,000
14 Seabreeze Court
House
754
5
3
3
17/10/14
$750,000
9 Bartlett Street
House
329
3
1
3
21/10/14
$410,000
9 Northwind Crescent
House
725
4
2
2
31/10/14
$517,000
33 The Boulevarde
House
614
3
3
4
17/06/14
$615,000
24 Scarborough Way
House
701
5
3
2
15/07/14
$575,000
16 Bell Street
House
763
3
2
1
16/09/14
$325,000
7 Longworth Road
House
581
2
2
1
17/10/14
$305,000
79 Sirius Drive
House
660
3
1
2
22/07/14
$326,000
21 Diamentina Way
House
806
4
2
2
8/08/14
$428,000
14 Heron Place
House
741
3
1
1
8/08/14
$280,000 $425,000
17A Investigator Way 2/72 Flinders Drive
Villa
-
3
2
2
15/05/14
House
853.6
3
1
2
22/07/14
$245,000
Villa
-
3
2
2
6/08/14
$415,000 $310,000
Villa
-
2
1
1
13/10/14
7 Bass Avenue
House
676
3
2
2
17/10/14
$445,000
3/1 Lake Street
Villa
-
2
2
1
20/10/14
$285,000
Lot 1, 34 Bold Street
Land
847.3
-
-
-
24/10/14
$275,000
2/63 The Parade
Unit
-
2
2
2
23/05/14
$407,500
10 Pioneer Street
House
709
3
2
3
14/06/14
$430,000
21 Camden Street
House
569
3
1
1
27/06/14
$397,000
4/1 Alfred Street
Unit
-
2
1
1
1/07/14
$234,000
22 Eames Avenue
House
607
2
1
-
28/07/14
$275,000
15 Bridge Street
House
3,965
5
3
5
5/09/14
$1,150,000
1/1 Glen Close
Villa
-
3
1
2
9/09/14
$376,000
3/39 The Parade
Townhouse
-
2
2.5
1
12/09/14
$382,000
4/19 Pelican Court WEST HAVEN
M | 0417 280 6587
Property Management
455
17B Investigator Way
NORTH HAVEN
Darren O’Rafferty
Land
36 Bold Street LAURIETON
M | 0408 277 520
Land
8 First Avenue
LAKEWOOD
M | 0409 707 441
Lot 9, 995 Ocean Drive
Lot 17, 995 Ocean Drive
DUNBOGAN/ CAMDEN HEAD
Stewart O’Brien Paul Pickering
Lot 10, 995 Ocean Drive 2/15 Bundarra Way
BONNY HILLS
PROPERTY TYPE
Experience our difference
Villa
-
3
1.5
1
23/05/14
$327,500
24 Waterview Crescent *
House
736
3
3
2
27/06/14
$520,000
402 Ocean Drive
House
726
2
1
1
23/08/14
$161,000
* Co-listed with another Agency