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LUGARNO EDITION

End of Financial Year Report Hayden & Olivia Duncan


A word from Hayden Duncan As we reflect on the 17/18 Financial Year all the talk has been the turbulent real estate market currently being experienced. History shows that good times follow the bad times and then more good times and then bad times again and the trend goes on indefinitely. The key difference between this market slowdown in both Sydney and Melbourne and previous drops is this one has been largely engineered through increasing restrictions on residential lending that are compromising buyers´ ability to obtain funds to purchase property. Tighter policy for residential lending began in 2014 and was initially aimed at investors. Now the banks have tightened their serviceability

checks on all borrowers - not just investors. This means fewer people are getting loans but more importantly it´s taking much longer to get approvals reducing the competition at many auctions. As always though there are exceptions to the rule. We are thrilled to have been the selling agents for 11 of the top 20 sales in Lugarno during the last 12 months which proves your choice of selling agent to partner you in the sales process has never been more important. The final stats for clearance rates for the 17/18 FY have McGrath St George at 62% where the region average was 49%. Our team´s personal clearance rate for the 17/18 FY was 78% - a number that we are extremely proud of and work very hard to achieve for the clients that engage our services.


A word from John McGrath Now that we´ve hit the mid-year point, it´s an opportune time to drop a pin in the market and see what´s really going on. Of course, the headline this year is the market turn in Sydney and Melbourne. We are currently well into the cooling process. While some suburban pockets are still recording price rises due to local factors, both cities overall are slowing down. Typically, when Sydney and Melbourne slow down, that´s when other cities start to shine so the national picture will be very interesting over the next 24 months. Which city or cities will become our next big market movers? I think Brisbane and South-East Queensland present the best opportunities for value and growth.

I still have a lot of confidence in this market, with high levels of interstate migration and more southern investors looking to buy. Looking ahead to FY2019, it´s obvious that Sydney and Melbourne will continue to cool. At some point, prices will settle and we´ll see more normal rates of steady, conservative growth for several years. It´s a matter of time til interest rates rise, so with the market softening I see FY2019 as a great time to be prudent, pay down debt where you can and better position yourself to absorb any rate rises ahead.


Recent sales in Lugarno No

Address

Bed Bath Car

Date

Price

*58 Moons Avenue

5

3

4

17-Mar-18

$3m

56 Moons Avenue

4

5

4

6-Jun-18

$2.7m

*25B Koorabel Street

5

4

2

2-Sep-17

$2.595m

*25A Koorabel Street

5

4

2

16-Mar-18

$2.25m

*30 Woodlands Avenue

4

2

2

26-Oct-17

$2.03m

*7 Boronia Parade

3

2

1

14-Oct-17

$1.92m

*58 Valentia Avenue

4

3

2

30 June-18

$1.9m

35 Moons Avenue

4

2

2

30 June-18

$1.82m

2A Illawong Street

5

2

2

20-Mar-18

$1.75m

89 Woodlands Avenue

5

3

3

17-Oct-17

$1.75m

*12 Woodcliff Parade

4

2

1

11-Nov-17

$1.725m

*20 Elm Street

5

3

2

17-Mar-18

$1.7m

5 Illawong Street

4

3

5

13-Jun-18

$1.68m

28 Elm Street

4

3

4

12-Apr-18

$1.66m

85 Lugarno Parade

4

2

2

6-Apr-18

$1.63m

3 Lugarno Parade

4

2

2

2-Sep-17

$1.625m

7 Shade Place

6

4

2

20-Mar-18

$1.625m

*3 Brewer Place

5

3

2

9-Dec-17

$1.618m

*5 Tallowwood Avenue

5

3

2

30-Jan-18

$1.6m

*24 Blackbutt Avenue

5

3

2

24-Mar-18

$1.51m

RP Data * Sold by Hayden & Olivia Duncan


Why Hayden & Olivia Duncan

27 years

Real estate industry experience

$45,465,604 32 28

Number of properties sold in FY18

Our average days on the market

$1,435,206 4

Total value of properties sold in FY18

Our average sale price

Highly experienced McGrath team members

78%

Auction clearance rate

RP data & McGrath


Lugarno statistics

77

Number of properties sold

$3m

Highest sale price

$795k

Lowest sale price

$1,374,506 47

Average sale price

Average days on the market

56%

Auction clearance rate

RP Data


Case studies 4 Beds 3 Baths 2 Cars Sale Method

Auction

Sale Price

$1.9m

Days on market

23

No. of inspections

58

No. of contract issued

10

Buyer origin

Beverly Hills

58 Valentia Avenue, Lugarno Sold $1.9m 5 Beds 3 Baths 2 Cars Sale Method

Auction

Sale Price

$1.7m

Days on market

19

No. of inspections

85

No. of contract issued

14

Buyer origin

Narwee

20 Elm Street, Lugarno Sold $1.7m 3 Beds 2 Baths 1 Cars Sale Method

Auction

Sale Price

$1.92m

Days on market

4

No. of inspections

5

No. of contract issued

5

Buyer origin

Lugarno

7 Boronia Parade, Lugarno Sold $1.92m 4 Beds 2 Baths 1 Cars

12 Woodcliff Parade, Lugarno Sold $1.725m

Sale Method

Auction

Sale Price

$1.725m

Days on market

23

No. of inspections

124

No. of contract issued

16

Buyer origin

Oatley


A selection of recent sales

25B Koorabel Street, Lugarno Sold $2.595m

20 Elm Street, Lugarno Sold $1.7m

5 Tallowwood Avenue, Lugarno Sold $1.6m

30 Woodlands Avenue, Lugarno Sold $2.03m

6 Gull Place, Lugarno Sold $1.5m

1182 Forest Road, Lugarno Sold $1.28m


A selection of recent sales

3 Brewer Place, Lugarno Sold $1.618m

12 Woodcliff Parade, Lugarno Sold $1.725m

58 Moons Avenue, Lugarno Sold $3m

25A Koorabel Street, Lugarno Sold $2.25mm

7 Boronia Parade, Lugarno Sold $1.92m

24 Blackbutt Avenue, Lugarno Sold $1.51m


Sponsorship

Sponsorship

Once again this year we are proud to be a sponsor of the Club Grandview´s Bowling Club in particular the Gators Bowlers. We´ve taken up a 5-year association and look forward to a continued relationship with the bowlers and all club patrons.

This year we also announced a new and exciting partnership with the Lugarno Football Club joining other key local businesses as platinum sponsors. We´ve been very fortunate to assist many local families move to and from the area and the family-oriented club hold values that resonate well with our own business philosophies. Sporting clubs in the local community are an integral part of the younger generation giving them a place to associate with and make many new friends. These friendships will often last a lifetime and we are particularly excited to be accepted as a part of this wonderful club. With our own children we´ve learnt the importance of sport in their social development and we will endeavour to support the club in every way we can during our 5-year tenure as sponsors. We thank the club for their trust and partnership.


Hayden & Olivia Duncan 0487 766 655 8558 7207 haydenduncan@mcgrath.com.au

Hayden Duncan Market Report  
Hayden Duncan Market Report