Inner City Team Home Front

HOME FRONT

THE McGRATH NEWSLETTER

WELCOME Welcome to the latest edition of the Home Front Newsletter McGrath Estate Agents providing you with a background to activity in your local residential market and the latest information from the McGrath Inner City Team.

With over 70 years experience specialising in the Inner City market, our skilled team has strong local market knowledge and are here to offer excellent advice if you are thinking of buying or selling.

Meet The Team We are pleased to introduce to you our Inner City Team listed from left to right.

Fraser Turvey 0404 056 222

Chris Chung 0413 744 754

Ben Forsyth 0410 065 222

Noemi Guttmann 0413 771 334

Connie Robilliard 0409 306 050

Stephen Antico 0439 999 066

Richard Bonouvrie 0404 087 091

Simon Doak 0413 811 420

The suburbs our Team specialise in are Chippendale, Darlinghurst, Darling Point, Double Bay, Elizabeth Bay, Paddington, Potts Point, Redfern, Rushcutters Bay, Surry Hills, Waterloo, Woollahra and Woolloomooloo

mcgrath.com.au

John McGrath Spring Update

Last year we predicted that 2013 would be the turnaround year for the residential market and the beginning of the next growth cycle. It´s looking like that´s the case as we report and amazing what a difference a year can make.

There are several factors driving the market recovery. Changes we are experiencing include: • Interest rates are now well under 5% vs last year when they were around 6% • The sharemarket was around 4,400 & as we go to print is now around 5,200 • Auction clearance rates have shifted from around 55% to above 75%

• Chinese buyers have arrived in force & are seeking quality properties in all price ranges • SMSFs have increased their investment into residential property by 10.4% in the past year • Sydney has had two of its highest house sales recorded at $52M & $33.5M • We have just had a new Government anointed with a landslide victory • The key performance indicators are as healthy as I´ve seen them for many years My major predictions for the year ahead are: • Continued residential property recovery Australia wide with several cities surging in demand & prices in 2014 • Sydney leading the way but South-East Queensland the overall strongest growth market in Australia over the next 3 years • Increasing demand from Chinese buyers • House prices to outperform unit values over the next 3 years • Interest rates to bottom around these levels for the remainder of the year but start to rise in the second half of 2014

Interesting facts & figures Surry Hills

Redfern

In recent years Surry Hills has flourished into one of Sydney’s most envied suburbs in regards to the diversity of its cuisines and culture. It also offers an mixture of alternative fashion and furniture outlets, attracting a variety of shoppers from far and wide.

Once a less than fashionable precinct, this newly gentrified suburb boasts some of Sydney’s best restaurants and is well known for its renovated and older-style terraces, warehouse conversions, apartments and quaint workers cottages.

Median house price - $915k

Median house price - $915K Median apartment price - $620K

Median apartment price - $620k

McGrath Magazine Collection Points Tropicana 227 Victoria Road, Darlinghurst Orson & Blake Café 483 Riley Street, Surry Hills The First Drop 69 Baptist Street, Redfern Serigio Espresso 101 York Street, Sydney Coffee -Tea-Me 93B Redfern Street, Redfern The Deli - Potts Point 65 Macleay Street, Potts Point

FOR SALE

DARLINGHURST 717/50 Burton Street Guide - Over $2,200,000

ZETLAND 2 Epsom Road Guide - Private Treaty

ELIZABETH BAY 17/40A Macleay Street Auction - 9th November at 12pm

REDFERN 15/253 Chalmers Street Guide - Over $749,000

WOOLLOOMOOLOO 218/88 Dowling Street CHIPPENDALE 34/82 Myrtle Street Guide - Over $525,000 Guide - Over $500,000

Recent Sales

PADDINGTON 7 Albert Square PADDINGTON 43 Brown Street POTTS POINT 3/50 Victoria Street Sold - Confidential Sold - $1,720,000 Sold - $1,551,000

PADDINGTON 88 Cascade Street PADDINGTON 156 Underwood Street SURRY HILLS 459 Crown Street Sold - $1,300,000 Sold - $1,225,000 Sold - $1,168,000

REDFERN 171 George Street DARLINGHURST 1/31 Womerah Lane Sold - $965,000 Sold - $800,000

WATERLOO 338/9 Crystal Street Sold - $658,000

RUSHCUTTERS BAY 103/50 McLachlan Avenue Sold - $790,000

DARLINGHURST 36/6 Stanley Street POTTS POINT 56/1 McDonald Street Sold - $380,010 Sold - $325,000