Michael Gleeson - Autumn 2019

CRONULLA EDITION

Autumn 2019 Michael Gleeson

A word from Michael & Sarah Welcome to our Autumn 2019 Report.

With market slowdown dominating the headlines and dinner time conversations, the focus on the property market has been mostly negative over the last 6 months.

The Sutherland Shire however, and Cronulla in particular, has a much better story to tell.

Cronulla residents are seeing firsthand how resilient the local market is despite a general softening in state wide house prices. The average sale price in Cronulla (JanMay) was $1.19m, a slight decrease from $1.29m for the same period last year, which is a very sustainable figure compared to the gloomy media reports on the Australian property market. Overall there were 183 sales across the suburb, down from last year´s 215, however we continue to serve a growing portion of the Cronulla market with our share of these sales increasing.

Not only do Cronulla residents recognise the value we deliver, but realestate.com.au do also. In May this year we were recognised as the number one team in the area for the year.

This recognition is hotly contested and is something we are incredibly proud of achieving. Our strong McGrath brand has largely contributed to these successes, with us personally selling more properties in Cronulla than any other agent. Source: realestate.com.au Cronulla is an area we know very well, having seen the market shift many times. From our combined 28 years in real estate, we can tell you the principle is the same in any market. Now more than ever you need an experienced agent to help you understand how to protect your price.

If we can help you with any of your real estate needs, please contact us to discuss a strategy that´s perfect for you and the market we know best.

Cronulla House (Jan-May 2019) statistics

$4m

Highest sale price

$1.29m $2.08m 33 61

Lowest sale price

Average sale price

Number of properties sold

Average days on the market

53%

Auction clearance rate

$810 per week

Average rental price

RP Data & PriceFinder

Cronulla Apartment (Jan-May 2019) statistics

$3.4m $405k

Highest sale price

Lowest sale price

$1.04m 150 64

Average sale price

Number of properties sold

Average days on the market

51%

Auction clearance rate

$475 per week

Average rental price

RP Data & PriceFinder

Recently sold

8/4 Elizabeth Place, Cronulla

Client Testimonials “I would like to thank Michael and Sarah for their unwavering support and advice during our sale. From the moment Michael came to our home to speak to us we felt very at ease and confident that he and McGrath were the right choice for us. From our experience, I can say that Michael really listens and endeavours to understand his clients needs during what is a pretty stressful time. In turn that level of confidence that you need from your agent is really met from day one. His team understand the importance of marketing and advised us of what would really suit us without selling unneeded channels and platforms of marketing for our property. We were supported in a professional and friendly manor in every process in the run up to the first house showing and no question we had felt too silly or small to ask. Michael/McGrath ensured we had quality and serious buyers coming though our doors and we sold VERY quickly for a price that exceeded our expectations. I cannot recommend Michael and Sarah enough and would not hesitate to recommend and use McGrath again. THANK YOU AGAIN!” Alexandra Walker & Michael Wilcox

“Good afternoon Michael and Sarah, I just wanted to say a huge thank you for looking after me with my sale and purchase during the last 3 or 4 weeks. I came to you because you had looked after my daughter Sandy so very well on her sale and I was certainly not disappointed. It wasn´t just the professionalism and great marketing, it was your attitude and care during both transactions. Being 80 years old does tend to bring on ´stress´ and I am sure at times I was a bit difficult, but you two never made me feel a nuisance and the results speak for themselves. I am very happy with the outcomes and would certainly recommend you to other friends; in fact I have just returned from lunch and did just that. With very best regards and heaps of thanks.”

Marilyn Melhuish

Recent sales in Cronulla (Jan-May 2019) No

Address

Bed Bath Car

Date

Price

1/6

Glaisher Parade

3

3

3

March

$4m

70

The Esplanade

3

2

2

February

$3.787m

131

Gerrale Street

3

2

2

February

$3.2m

24

Coronation Avenue

5

3

2

March

$3.06m

19

Gerrale Street

3

2

3

May

$2.95m

44

Taloombi Street

4

2

3

January

$2.625m

3

Struthers Street

4

2

2

February

$2.605m

13

Kirkwood Road

4

2

3

March

$2.1m

83

Nicholson Parade

3

1

2

February

$2m

18

Seaview Street

4

3

4

February

$1.92m

8

Windsor Road

3

2

2

February

$1.91m

11/24 Coast Avenue

3

2

1

May

$1.755m

5

Wyanbah Road

4

2

2

April

$1.75m

19

High Street

4

2

4

April

$1.725m

13

Ocean Street

4

2

4

February

$1.725m

1

Holland Street

4

3

2

February

$1.72m

23

High Street

4

2

2

January

$1.71m

13/8 Boorima Place

2

1

2

April

$1.628m

20

Gerrale Street

2

2

2

April

$1.58m

6/16 Girrilang Road

3

2

2

April

$1.5m

RP Data & PriceFinder

Recent sales in Cronulla (Jan-May 2019) No

Address

Bed Bath Car

Date

Price

5/8

Bando Road

3

2

3

March

$1.485m

24

Parramatta Street

3

2

2

March

$1.42m

39B Flinders Road

3

2

2

March

$1.38m

23

Riverview Avenue

3

2

2

January

$1.285m

3/1

Lewis Street

3

2

2

February

$1.167m

10/59Gerrale Street

2

2

2

February

$1.115m

21/24 Parramatta Street

3

2

1

February

$1.115m

11/10 Allison Road

3

2

2

March

$1.1m

5/3

Boorima Place

2

1

1

March

$1.05m

8/3

Boorima Place

4

1

2

March

$1.05m

9/13 Coast Avenue

2

1

1

April

$1.02m

8/4 Elizabeth Place

2

1

2

April

$980k

2/24 Parramatta Street

3

2

1

January

$980k

23/1 Allison Road

3

2

2

March

$964.5k

3/33 Connels Road

3

2

2

March

$960k

2/32 Parramatta Street

3

2

2

April

$905k

16/2 St Andrews Place

2

1

1

February

$825k

4/75 Ewos Parade

2

2

1

January

$820k

9/69 Parramatta Street

2

1

1

May

$800k

3/93 Elouera Road

2

1

2

April

$800k

RP Data & PriceFinder

A selection of recent sales

24 Coronation Avenue, Cronulla

18 English Street, Woolooware

1 English Street, Woolooware

13 Ocean Street, Cronulla

83 Nicholson Parade, Cronulla

3 Struthers Street, Cronulla

Why Michael & Sarah

28 years $41m 35 27

Total value of properties sold in FY18

Number of properties sold in FY18

Our average days on the market

$1.17m 5

Real estate industry experience

Our average sale price

Highly experienced McGrath team members

86%

Auction clearance rate

RP Data & PriceFinder

A selection of recent sales

10 Denman Avenue, Cronulla

304/20 Gerrale Street, Cronulla

Case studies 3 Beds 2 Baths 2 Cars

Sale Method

For Sale

Sale Price

$1.42m

Vendor’s price expectation

$1.4m

Days on market

20

No. of inspections

31

No. of contract issued

6

Buyer origin

Cronulla

10 Denman Avenue, Cronulla Sold $1.42m 4 Beds 3 Baths 4 Cars

Sale Method

For Sale

Sale Price

$1.4m

Vendor’s price expectation

$1.3m

Days on market

33

No. of inspections

114

No. of contract issued

8

Buyer origin

Concord

3 Winkin Avenue, Gymea Bay Sold $1.4m 2 Beds 1 Baths 2 Cars

Sale Method

For Sale

Sale Price

$980k

Vendor’s price expectation

$900k

Days on market

67

No. of inspections

41

No. of contract issued

4

Buyer origin

Cronulla

8/4 Elizabeth Place, Cronulla Sold $980k 5 Beds 3 Baths 2 Cars

24 Coronation Avenue, Cronulla Sold $3.06m

Sale Method

For Sale

Sale Price

$3.06m

Vendor’s price expectation

$2.7m

Days on market

36

No. of inspections

59

No. of contract issued

5

Buyer origin

Maroubra

Michael Gleeson 0410Â 774Â 031 8525 9982 michaelgleeson@mcgrath.com.au