Kincumber EOFY 2021 Market Report

KINCUMBER EDITION

EOFY 2021 Market Report Dianne Bulmer

A word from Dianne Bulmer With the close of another financial year, I reflect upon the FY20/21 wrap up and it certainly has been one of the most interesting and unprecedented years in real estate.

This is apparent in Kincumber and on the Central Coast.

We’re ending the year in the midst of the world’s first pandemic in more than 100 years and will go down in the history books as a moment in time that will have redefined how we live and work. I doubt anyone could’ve predicted how our local property market has rallied into one of our strongest yet.

So, what is actually happening out there?

Essentially, it comes down to the simple economic equation of supply and demand. There is currently a record low number of available properties for sale through Kincumber and the Central Coast, with buyer activity doubling since 2019. The low number of available properties for sale is an outcome of seller uncertainty over the past 12 months. Market activity has seen an upswing in median price. So, unless potential sellers have a pressing need to sell, most will opt to hold and ride the wave.

The increase in buyer demand has been driven mainly by historically low interest rates. Buyers are using this opportunity to take advantage of borrowing cheap money to upsize, or for first home buyers, just to get into the property market. Couple that with an increased appetite for a lifestyle change for those choosing to move out of Sydney to the Coast and work from home.

Our prestige markets are also extremely active. The local surrounds have recorded more sales over $2M in the last 9 months, than were recorded over the last 5 years. Confidence in the upper end of the market is having a direct impact on the rise of median prices.

Whilst we can't look into a crystal ball and predict the future, I believe strong market conditions will continue for the next 6 – 12 months (if not longer). Some industry experts are predicting property to rise by 20% over the coming years.

Kincumber statistics

$3.95m $220k 95 15

Highest sale price

Lowest sale price

Number of properties sold

Average days on the market

$929k

Average sale price

$600 per week 54

Properties for rent

Average rental price

H G B C A E D Corelogic RP Data

Recent ​ sales in Kincumber No

Address

Bed Bath Car

Date

Price

_______________________________________________________________________________________________________________________________________________________________________

1

56 Boundary Road

6

4

0

20 Feb 2021

$2.17m

_______________________________________________________________________________________________________________________________________________________________________

2

18 Berong Road

4

2

10

23 Feb 2021

$1.65m

_______________________________________________________________________________________________________________________________________________________________________

3

8 Berong Road

4

2

8

06 Feb 2021

$1.57m

_______________________________________________________________________________________________________________________________________________________________________

4

9 Parkers Road

3

2

1

03 Apr 2021

$1.55m

_______________________________________________________________________________________________________________________________________________________________________

5

33 Kerns Road

4

3

2

20 May 2021

$1.35m

_______________________________________________________________________________________________________________________________________________________________________

6

13 Peterson Close

4

2

2

09 Jun 2021

$1.30m

_______________________________________________________________________________________________________________________________________________________________________

7

4 Bermuda Street

4

3

4

30 Apri 2021

$1.23m

_______________________________________________________________________________________________________________________________________________________________________

8

2 Woodcrest Close

5

2

1

28 Jun 2021

$1.21m

_______________________________________________________________________________________________________________________________________________________________________

9

8 Booragal Close

3

1

2

07 May 2021

$1.18m

_______________________________________________________________________________________________________________________________________________________________________

10

11 Julian Road

4

3

2

29 April 2021

$1.15m

_______________________________________________________________________________________________________________________________________________________________________

11

12 Edmondson Crescent

5

2

3

02 Jun 2021

$1.05m

_______________________________________________________________________________________________________________________________________________________________________

12

19 Yurara Close

3

2

2

09 Mar 2021

$995k

_______________________________________________________________________________________________________________________________________________________________________

13

11 Norman Hunter Close

4

2

2

28 May 2021

$970k

_______________________________________________________________________________________________________________________________________________________________________

14

21 Water Street

3

2

5

26 Jun 2021

$952K

_______________________________________________________________________________________________________________________________________________________________________

15

17 Mortons Close

5

2

4

30 Apr 2021

$920k

_______________________________________________________________________________________________________________________________________________________________________

16

3 Little Close

3

1

2

04 Apr 2021

900k

_______________________________________________________________________________________________________________________________________________________________________

17

6 Scaysbrook Drive

4

1

1

05 mar 2021

$880k

_______________________________________________________________________________________________________________________________________________________________________

18

2A Yurara Close

4

2

1

19 Apr 2021

$880k

_______________________________________________________________________________________________________________________________________________________________________

19

18 Erambie Road

3

1

1

08 Feb 2021

$787k

_______________________________________________________________________________________________________________________________________________________________________

20

1/48 Kookaburra Street

3

2

1

03 Jun 2021

$715k

_______________________________________________________________________________________________________________________________________________________________________

REA

Client Testimonials “Dianne and Peta did their absolute best to market our property and work around our needs and lifestyle.

Communication was constant and during this difficult period, Dianne achieved the higher end of the price valuation she originally indicated we could get.

Very Happy Customers.”

Elisa & Michael

​ “Di and her team were excellent. Very professional, really understood the market and Di gave very good suggestions in approach to sell property. Was very friendly and personable. Lovely doing business with Dianne.”

Greg & Corry

“Diane was very personable and easy to deal with.

Always prompt and reliable with any contact. Although our selling process was not smooth or fast in the current frenzied market, Diane worked tirelessly to get results.”

Peter & Nerida

“Di was honest and very professional!

We were very pleased with the results of our sale. Peta her assistant was also amazing and very genuine. A great team thanks to both of you.”

“Dianne = Amazing! We purchased and sold our property with Dianne. She delivers every time without fail. So happy with her approach and the outcome with the sale of our home. Thank you Dianne!”

Carly

​ “We enlisted Di to help us sell our home after meeting her at another open home and seeing the manner in which she engaged with potential buyers.

From the moment we met Di, to the eventual sale of our home, we were impressed by her professionalism, her hard work ethic, excellent communication, transparency and overall guidance through the process. She brought a dedicated team with her, and together they achieved an outstanding result for us.”

Margaretha

“We purchased our beautiful forever home just over 3 years ago through Di Bulmer, in fact we bought it on its first open house. Di was so wonderful throughout the process we decided to ask her again when selling an investment property late 2020. Her professionalism, honesty, and knowledge is 6*. We would highly recommend Di Bulmer as the No.1 real estate on the coast. Love your work Di.” Will & Denise

Lisa & Michael

“The whole team was faultless during the process, gave great guidance and advise, delivered with compassion during this difficult process. Will definitely be using the team again!”

Lopez Family

A selection of my recent sales

​ 29 MacKillop Rd, Kincumber South Sold $1.3m

9 ​ Parkers Rd, Kincumber Sold $1.55m

9 ​ Mathew St, Kincumber Sold $1.08m

8 ​ Woodfield Rd, Kincumber Sold $1.09m

8 ​ Berong Rd, Kincumber Sold $1.57m

6/168 ​ Avoca Dr, Kincumber Sold $715k

4 ​ Woodward Cres, Kincumber Sold $1.16m

33 ​ Kerns Rd, Kincumber Sold $1.35m

11 ​ Norman Hunter Cl, Kincumber Sold $970k

12 ​ Edmondson Cr, Kincumber Sold $1.05m

21 ​ Water St, Kincumber Sold $952k

17 ​ Mortons Cl, Kincumber Sold $920k

18 ​ Erambie St, Kincumber Sold $787k

4 ​ Kooreal Rd, Kincumber Sold $758k

28 ​ Carrela Pde, Kincumber South Sold $1.24m

A word from John McGrath Well, we’ve never had a year quite like this one.

At the start of FY21, we were four months into a global pandemic that created uncertainty and fear around the world. Alongside the terrible health threat was the economic threat, which carried with it plenty of doomsday predictions for the Australian property market. However the property market across much of Australia has defied predications.

During the first six months of COVID, the No.1 factor keeping the property market stable was massive government stimulus, including wage replacement through Job-Keeper and the boosted Job-Seeker, optional deferral of mortgage repayments and rental moratoriums.

No.2 was a lack of stock for sale due to job insecurity and lockdowns.

No.3 was ongoing high demand from first home buyers, who were incentivised by further falls in home loan rates and state initiatives like raised price thresholds for stamp duty exemptions and concessions.

Later on, the market benefitted from Home-Builder and increasing consumer confidence due to improving government management of outbreaks and talk of a vaccine by Christmas.

People began feeling motivated to trade up because of the lifestyle changes COVID inspired, as well as rock bottom home loan rates including fixed deals under 2%.

Soon enough, the market was flooded with demand and prices rose strongly. In regional areas, this occurred all year long but in the major cities, price growth didn’t really take off until CY21. Strong home price growth is happening all over the world because every country has one thing in common - the lowest interest rates of our lives. That’s a big incentive to trade up.

Dianne Bulmer 0455 322 985 4384 0245 diannebulmer@mcgrath.com.au