FRANCESCA PARRINO WINTER REVIEW - BEROWRA & BEROWRA HEIGHTS 1 July 2015–30 June 2016

FRANCESCA PARRINO WINTER REVIEW BEROWRA & BEROWRA HEIGHTS 1 JULY 2015 – 30 JUNE 2016

Francesca Parrino

I thought it appropriate to start my review of our local market in the last financial year by sharing a portion of our CEO, John McGrath’s market update.

“There is an old saying in Australian Real Estate that property prices double every 10 years. The reason many people are sceptical of this equation is because this price doubling does not occur in a uniform line. There is no neatly rounded 10% price gain every year in every market – we see low growth years and high growth years but when you add them all up over 10, you get about double growth” The above is a perfect description of what our local market has done over the last 12 months. The first quarter from July to September, 2015 which would normally mark the beginning of the cooler market saw the opposite happen with the few properties on the market achieving way above vendor expectations. It can easily be described as a frenzy – buyers were desperate to get into Berowra and Berowra Heights and were prepared to pay unsustainable prices to secure a home. Some examples are listed below: 39 Lonsdale Avenue, Berowra Heights – partly renovated 3 bedroom home was on the market for 10 days and sold for $1,050,000 ($100,000 over the asking price of $950,000) 124 Berowra Waters Road, Berowra Heights – original 3 bedroom fibro cottage was on the market for 16 days and sold for $840,000 ($90,000 over the asking price of $750,000) 154 Turner Road, Berowra Heights – fully renovated 5 bedroom home was on the market for 19 days and sold for $1,300,000 ($100,000 over the asking price of $1,200,000) It’s easy to see why vendors who may have delayed their sale, quickly decided to get on the band wagon and put their property on the market in spring. Our second quarter, October to December, saw the largest amount of properties to ever hit the market in our suburb. The market shifted as buyers now had the luxury of choice and taking the urgency element away. Days on market typically doubled and price reductions were occurring as the market corrected itself.

This correction has carried through to 2016 and we have now come to the end of the financial year with a sustainable market. There are currently 24 properties on the market which provides choice but not a flooded market and prices achieved are very close to vendor expectations.

In conclusion, I quote John McGrath’s words again “When we look at property over a 10 year period, it’s easy to see how well people can do out of bricks and mortar. It’s also a great reminder that the time to buy is always as soon as you can afford it, because no matter where we are in the cycle when you buy, the odds are you will double your money over the ensuing decade. Just be conscious that it won’t happen in a straight line and you have to be prepared to ride out the lacklustre years in order to enjoy the phenomenal boom years”.

Capital Growth in Median Prices (Houses) Berowra

Berowra Heights

Hornsby LGA

Period

% Change

% Change

% Change

2015

12.1%

20.1%

21.6%

2014

15.0%

19.8%

20.0%

2013

11.0%

1.9%

12.1%

2012

-0.9%

9.6%

1.1%

2011

1.2%

0.2%

0.7%

2010

12.1%

7.8%

12.7%

Berowra House Sales – Last 12 months Number Sold

Median

Average

Highest

Lowest

56

$956,000

$971,348

$1,350,000

$663,500

Top 5 Berowra House Sales – Last 12 months Address

Bed

Bath

Car

Sold Date

Land Size

Sale Price

1

11A Yeramba Crescent

5

3

2

29 July 15

654sqm

$1,350,000

2

32 Balaclava Road

3

1

-

30 Sep 15

794sqm

$1,250,000

3

12 Preston Way

4

-

-

8 Oct 15

2617sqm

$1,225,000

4

22 Yarrabin Crescent

5

3

2

20 Nov 15

671sqm

$1,200,000

5

25 Cumbora Circuit

5

3

2

4 Mar 16

777sqm

$1,200,000

Berowra Heights House Sales – Last 12 months Number Sold

Median

Average

Highest

Lowest

60

$913,061

$947,142

$1,370,000

$635,000

Top 5 Berowra Heights House Sales – Last 12 months Address

Bed

Bath

Car

Sold Date

Land Size

Sale Price

1

34 Blue Ridge Crescent

6

3

2

16 Mar 16

1540sqm

$1,370,000

2

22 Holliday Crescent

6

3

2

12 May 16

751sqm

$1,305,000

3

154 Turner Road

5

3

2

8 Oct 16

702sqm

$1,300,000

4

141 Turner Road

5

4

3

14 May 16

836sqm

$1,240,000

5

10 Wideview Road

4

2

2

12 Feb 16

696sqm

$1,190,000

Notes: (i) This information is being provided by Australian Property Monitors and RP Data, its accuracy cannot be guaranteed. Parties should rely on their own enquires and McGrath will not be liable for error or admissions herein.

“Dear Francesca, As we feel we are finally catching our breath after our big move, we would like to take this opportunity to thank you for the huge effort you put in to ease us through an experience a lot of us think is just too hard at our time of life. We were very happy to be guided, as we were confident of your knowledge of the local market, who would be looking to buy our home, real estate conditions at this time and, importantly, your sense of style. We also appreciated your enthusiasm and upbeat approach, your attention to detail and the sheer hard work you and your team contributed to our sale. At a time when we clients were feeling a bit out of our depth it was wonderful to have a knowledgeable and patient soul to explain the processes to us whenever we needed to call for reassurance.�

John & Jill Ingram

Francesca’s Berowra Sales – Past 12 months Address

Bed

Bath

Car

Sold Date

Landsize

Sale Price

17 Berowra Waters Road

3

1

1

24 May 16

579sqm

$782,000

2 Dowrena Place

4

2

1

23 May 16

689sqm

$910,000

2A Waratah Road

4

2

2

20 May 16

500sqm

$1,050,000

62 The Gully Road

4

2

2

20 Apr 16

566sqm

$1,080,000

3 Acacia Road

4

2

2

18 Apr 16

695sqm

$1,005,000

25 Cumbora Circuit

5

3

2

4 Mar 16

777sqm

$1,200,000

18 Holliday Avenue

4

2

2

20 Jan 16

743sqm

$1,080,000

17 Gwandalan Crescent

4

4

2

15 Jan 16

1087sqm

$1,050,000

29B Hillcrest Road

4

2

3

23 Dec 15

627sqm

$990,000

10 Yallambee Road

-

-

-

12 Dec 15

885sqm

$635,000

62 Bambil Road

4

2

2

8 Dec 15

1024sqm

$900,000

12 Yallambee Road

3

1

2

28 Nov 15

739sqm

$700,000

56 The Gully Road

4

2

2

26 Nov 15

551sqm

$1,080,000

22 Yarrabin Crescent

5

3

2

20 Nov 15

671sqm

$1,200,000

4 Adam Close

4

2

4

10 Nov 15

813sqm

$1,200,000

56 Koloona Street

4

2

2

28 Oct 15

732sqm

$1,130,000

2/19 Anembo Road

4

3

1

23 Oct 15

324sqm

$855,000

973A Pacific Highway

3

1

2

18 Aug 15

500sqm

$825,000

8 Yallambee Road

4

2

2

14 Aug 15

961sqm

$1,080,000

11 Yarrabin Crescent

4

2

2

4 Aug 15

729sqm

$1,096,500

11A Yeramba Crecsent

5

3

2

31 Jul 15

654sqm

$1,350,000

60 The Gully Road

5

2

2

15 Jul 15

562sqm

$1,110,000

Francesca’s Berowra Heights Sales – Past 12 months Address

Bed

Bath

Car

Sold Date

Landsize

Sale Price

69 Barnetts Road

5

3

2

2 May 16

929sqm

$1,190,000

31 Easton Road

4

2

2

29 Apr 16

665sqm

$880,000

21 Cambewarra Crescent

3

2

1

27 Apr 16

739sqm

$925,000

64 Wideview Road

3

1

1

26 Apr 16

695sqm

$862,000

18 Lonsdale Avenue

3

2

2

15 Apr 16

629sqm

$820,000

79 Lonsdale Avenue

3

2

2

13 Apr 16

577sqm

$900,000

5 Wingaire Place

3

2

2

4 Apr 16

750sqm

$970,000

11 Beatrice Close

4

2

1

29 Mar 16

765sqm

$911,123

34 Blue Ridge Crescent

6

3

2

16 Mar 16

1540sqm

$1,370,000

7 Lingellen Street

3

1

1

23 Feb 16

771sqm

$735,000

66 Lonsdale Avenue

3

1

3

23 Feb 16

792sqm

$885,000

4 Evelyn Crescent

3

1

2

16 Feb 16

739sqm

$887,250

10 Wideview Road

4

2

2

12 Feb 16

695sqm

$1,190,000

24 Easton Road

4

2

1

12 Jan 16

1034sqm

$930,000

10 Evelyn Crescent

4

2

1

20 Nov 15

752sqm

$990,000

90 Alan Road

5

3

2

5 Nov 15

822sqm

$1,120,000

8 Evelyn Crescent

3

1

1

28 Oct 15

739sqm

$982,500

99 Woodcourt Road

4

2

2

27 Oct 15

695sqm

$950,000

154 Turner Road

5

3

2

15 Oct 15

702sqm

$1,300,000

124 Berowra Waters Road

3

1

2

31 Jul 15

501sqm

$840,000

39 Lonsdale Avenue

3

1

1

18 Jul 15

935sqm

$1,050,000

17 Cambewarra Crescent

3

2

2

17 Jul 15

2194sqm

$1,050,000

“Francesca has it all. Professional, passionate and personal. In a tough market, persistence and confidence won out. A deal was done.

Now it’s your turn, give Francesca a call.”

Derek Conolly

A Winning Combination

Francesca Parrino D 8914 8812 M 0415 651 740 E francescaparrino@mcgrath.com.au Jessica West D 8914 8814 M 0439 077 378 E jessicawest@mcgrath.com.au

Madeline Morey D 8914 8820 M 0434 300 872 E madelinemorey@mcgrath.com.au