End of Financial Year Report 2022 Peter Morris
OURIMBAH EDITION
A word from Peter Morris I am proud to call Ourimbah my home, purchasing myself in Ourimbah 10 years ago, our kids have attended Ourimbah Public School and now Lisarow High School, we are a dedicated local family invested in the sucess of our local community.
More recently we are seeing a shift in lower buyer inspection numbers across the Central Coast. Buyers are more conservative now and the FOMO (Fear Of Missing Out) we saw last year, has been replaced by FOOP (Fear Of Over-Paying).
The last two years have seen extremely strong growth in Ourimbah. When COVID first hit in 2020, predictions were rife of a property recession, which could not have been further from our reality here in Ourimbah.
Even though some of the urgency has waned from the market, there is still a genuine need for buyers to be transacting, and these buyers are the ones that our team is focussed on assisting the most.
With the change in working environments and the normality of "working from home", buyers realised they no longer needed to be close to the office which instigated a sea & tree change. This resulted in a buyer frenzy, particularly in acreage and lifestyle properties, increasing property prices due to low supply and high demand.
New properties that launch with an attractive price guide and good marketing are the ones getting the most attention. Now more than ever, it is important to engage an agent with high end marketing capabilities, great people skills and a strong team, to navigate this changing market.
Averge house sale prices in Ourimbah went from $723k with an average of 81 days on market in 2020, to $990k and 12 days on the market in 2022. (RP Data - Corelogic)
Ourimbah statistics
$990k
Average sale price
57
Number of properties sold
12
Average days on the market
$500 per week $3.725m 73%
Average rental price
Highest sale price
Percentage of owner occupied
14.6 years
Average length ownership
A B C E H B C Corelogic July 2022
Recent sales in Ourimbah No
Address
Bed Bath Car
Date
Price
_______________________________________________________________________________________________________________________________________________________________________
890 Dog Trap Road
6
3
14
14th Oct 21
$3.725m
_______________________________________________________________________________________________________________________________________________________________________
50
Pryor Road
7
3
4
27th Apr 22
$3.505m
_______________________________________________________________________________________________________________________________________________________________________
163
Ourimbah Creek Road
5
3
10
17th Feb 22
$2.9m
_______________________________________________________________________________________________________________________________________________________________________
355 Brush Road
7
4
4
5th Aug 21
$2.8m
_______________________________________________________________________________________________________________________________________________________________________
385 Ourimbah Creek Road
5
4
4
6th Jun 22
$2.6m
_______________________________________________________________________________________________________________________________________________________________________
15
Frederick Street
5
3
4
15th Oct 21
$2.6m
_______________________________________________________________________________________________________________________________________________________________________
7
Beckford Road
6
3
10
17th Sep 21
$2.6m
_______________________________________________________________________________________________________________________________________________________________________
65
Peach Orchard Road
5
2
10
24th Dec 21
$2.5m
_______________________________________________________________________________________________________________________________________________________________________
27
Old Farm Place
6
5
9
11th Feb 22
$2.4m
_______________________________________________________________________________________________________________________________________________________________________
12
Beckford Road
4
3
3
18th Dec 21
$2.3m
_______________________________________________________________________________________________________________________________________________________________________
5A
Reservior Road
9
5
8
20th Dec 21
$2.25m
_______________________________________________________________________________________________________________________________________________________________________
19
Peach Orchard Road
3
2
10
7th May 22
$1.998m
_______________________________________________________________________________________________________________________________________________________________________
7
Reservoir Road
5
3
2
10th Jun 22
$1.93m
_______________________________________________________________________________________________________________________________________________________________________
69
Ourimbah Creek Road
4
2
6
17th Sep 21
$1.6m
_______________________________________________________________________________________________________________________________________________________________________
1
Boxwood Close
4
2
2
13th Jan 22
$1.505m
_______________________________________________________________________________________________________________________________________________________________________
8
Coachwood Drive
5
2
3
10th Feb 22
$1.475m
_______________________________________________________________________________________________________________________________________________________________________
19
Hillgrove Close
4
2
3
26th Aug 21
$1.36m
_______________________________________________________________________________________________________________________________________________________________________
16
Leeder Road
5
2
6
17th Jun 22
$1.36m
_______________________________________________________________________________________________________________________________________________________________________
3
Robert Holl Drive
4
2
2
27th Mar 22
$1.35m
_______________________________________________________________________________________________________________________________________________________________________
25
King Street
4
2
2
31st Mar 22
$1.285m
_______________________________________________________________________________________________________________________________________________________________________
142
Ourimbah Creek Road
4
2
1
20th Aug 21
$1.24m
_______________________________________________________________________________________________________________________________________________________________________
3
Tallowood Crescent
5
3
2
5th Jul 21
$1.192m
_______________________________________________________________________________________________________________________________________________________________________
10
Bristowe Close
4
2
2
27th Jul 21
$1.175m
_______________________________________________________________________________________________________________________________________________________________________
29
Chittaway Road
3
2
1
31st Mar 22
$1.15m
_______________________________________________________________________________________________________________________________________________________________________
15
Jaques Street
3
1
2
29th Oct 21
$1.12m
_______________________________________________________________________________________________________________________________________________________________________
RP Data - Corelogic July 2022
Case studies 5 Beds 3 Baths 10 Cars
Sale Method
Auction
Sale Price
$2,900,000
Vendor’s price expectation
$2,500,000
Days on market
20
No. of inspections
35
No. of contract issued
10
Buyer origin
Avalon, NSW
163 Ourimbah Creek Road, Ourimbah Sold $2.9m 4 Beds 2 Baths 2 Cars
Sale Method
For Sale
Sale Price
$1,285,000
Vendor’s price expectation
$1,100,000
Days on market
13
No. of inspections
13
No. of contract issued
4
Buyer origin
Singapore
25 King Street, Ourimbah Sold $1.285m 3 Beds 1 Baths 1 Cars
Sale Method
For Sale
Sale Price
$665,000
Vendor’s price expectation
$625,000
Days on market
10
No. of inspections
12
No. of contract issued
3
Buyer origin
Central Coast
2/28 Burns Road, Ourimbah Sold $665k 3 Beds 1 Baths 2 Cars
17 Albert Street, Ourimbah Sold $940k
Sale Method
For Sale
Sale Price
$940,000
Vendor’s price expectation
$800,000
Days on market
9
No. of inspections
31
No. of contract issued
7
Buyer origin
Central Coast
Recent sales in Ourimbah No
Address
Bed Bath Car
Date
Price
_______________________________________________________________________________________________________________________________________________________________________
46
Cambridge Circle
6
5
5
18th Oct 21
$1.065m
_______________________________________________________________________________________________________________________________________________________________________
34C Cambridge Circle
5
2
4
31st Jul 21
$1.06m
_______________________________________________________________________________________________________________________________________________________________________
13
Albert Street
6
3
2
9th Aug 21
$1.05m
_______________________________________________________________________________________________________________________________________________________________________
20
Glen Road
2
1
2
5th Mar 22
$1.05m
_______________________________________________________________________________________________________________________________________________________________________
2
Edson Avenue
4
2
2
8th Nov 21
$1.02m
_______________________________________________________________________________________________________________________________________________________________________
9
Albert Street
3
2
2
20th Dec 21
$1m
_______________________________________________________________________________________________________________________________________________________________________
45
Coachwood Drive
3
1
2
9th Nov 21
$990k
_______________________________________________________________________________________________________________________________________________________________________
6
King Street
3
2
2
30th Nov 21
$970k
_______________________________________________________________________________________________________________________________________________________________________
52
Shirley Street
4
1
2
12th Aug 21
$970k
_______________________________________________________________________________________________________________________________________________________________________
35
Bangalore Street
4
3
1
16th Aug 21
$965k
_______________________________________________________________________________________________________________________________________________________________________
60
Pacific Highway
2
1
1
20th Jun 22
$945k
_______________________________________________________________________________________________________________________________________________________________________
17
Albert Street
3
1
2
8th Feb 22
$940k
_______________________________________________________________________________________________________________________________________________________________________
22
Walmsley Road
3
2
2
12th Nov 21
$930k
_______________________________________________________________________________________________________________________________________________________________________
111
Pacific Highway
2
1
8
13th Nov 21
$927k
_______________________________________________________________________________________________________________________________________________________________________
55
Coachwood Drive
4
2
2
20th Sep 21
$920k
_______________________________________________________________________________________________________________________________________________________________________
14
Red Cedar Close
3
1
1
11th Nov 21
$870k
_______________________________________________________________________________________________________________________________________________________________________
16
Cambridge Circle
3
2
1
11th May 22
$845k
_______________________________________________________________________________________________________________________________________________________________________
9
Pacific Highway
3
1
2
8th Feb 22
$833.5k
_______________________________________________________________________________________________________________________________________________________________________
13
Dog Trap Road
4
1
2
28th Apr 22
$810k
_______________________________________________________________________________________________________________________________________________________________________
35
Burns Road
2
1
1
7th Feb 22
$800k
_______________________________________________________________________________________________________________________________________________________________________
59
Burns Road
3
1
1
17th Jun 22
$780k
_______________________________________________________________________________________________________________________________________________________________________
10
Alex Close
4
2
2
6th Aug 21
$760k
_______________________________________________________________________________________________________________________________________________________________________
33
Bangalore Street
3
1
3
24th Jul 21
$760k
_______________________________________________________________________________________________________________________________________________________________________
70
Coachwood Drive
3
1
1
12th Dec 21
$755k
_______________________________________________________________________________________________________________________________________________________________________
1/16 Coraki Street
3
1
1
25th Nov 21
$730k
_______________________________________________________________________________________________________________________________________________________________________
RP Data Corelogic July 2022
Recently sold
Community news The experience of supporting your local community is very rewarding and each year I pride myself in giving back to local schools, organisations, events and businesses. I proudly sponsor several community clubs which I look forward to being involved with again. - Ourimbah Razorbacks Rugby Club - Lisarow Ourimbah Cricket Club - Ourimbah Public School Open Day - Member of Ourimbah Region Residents Association
Peter Morris 0405 155 702 4344 5544 petermorris@mcgrath.com.au