Asquith - Mount Colah - Mount Kuring-gai
LOCAL LIVING THE McGRATH NEWSLETTER
Welcome Welcome to this issue of local living. This has been created as a result of many clients feedback who live in Asquith, Mount Colah and Mount Kuring-Gai. They have said they would love to know more about what is happening in the real estate market in their pocket. As your area specialist I am please to provide this for you, I trust you will enjoy Kind Regards,
Nick Berman M 0411 216 332 D 8914 8804 E nickberman@mcgrath.com.au
mcgrath.com.au
The Local Market The hot Sydney property market has been fuelled by high demand and low interest rates. Property prices have been on an upward trajectory with the first quarter of the year rising almost 6%. Investors played a pivotal role in pushing prices higher by securing a safe investment in ‘bricks n mortar’. The reserve bank again lowered interest rates in May to its lowest ever in history to 2%. While the colder weather usually sees a slower property market, there’s still plenty of competition for available properties with demand outstripping supply. Over the next few weeks, we should see more properties start to come onto the market in a lead up to the spring market. If interest rates
remain on hold or possibly lowered again, we can expect much what we have already seen this year including perhaps Sydney median price rising to another record level. Many of our clients are curious to understand and know the new value of their property, so we would welcome the opportunity to provide you with an updated market assessment. Please feel free to call or send an email to arrange a short meeting for me to review your home this week, and provide you with a market snapshot of what your property is worth in the current market.
John McGrath Message from the CEO November 2014, which did affect prices in the short term. But no! Two interest rate cuts have prolonged Sydney’s boom with a strong 9.1% lift in prices over the first six months of the year alone (CoreLogic RP Data). Where to from here? Affordability is really starting to bite and a lack of stock is pumping up competition – and therefore prices, on good quality homes for sale in good locations. It’s been another spectacular year of growth in Sydney with property price gains of 16.2% for FY15 – slightly higher than the 15.4% increase of FY14. Most of us expected price growth to begin moderating from January this year following a flood of stock that came onto the market in
Right now, the lack of stock is being caused by sellers holding off til Spring. They know they could get a fantastic price right now but they’re concerned about being able to buy back in with so few homes available for sale. Hopefully Spring will break the cycle and we’ll see more trading. Bring on FY16.
Did you know? Mount Colah As one of the most northerly suburbs of Sydney, Mount Colah is where the “Welcome to Sydney” sign is located. Mount Colah is one of the highest suburbs in Sydney by elevation. Mount Colah varies in altitude from 68m to just over 200m above sea level.
When the M1 Sydney-Newcastle Freeway (originally known as the F3) was built through Mount Colah in 1988 (opened in March 1989), it cut through an old World War II gravel airstrip, and isolated two holes of the Asquith Golf Course just to the south. Some World War II building remnants are still located nearby.
Mount Colah was originally known as Colah Mount Colah was voted “Australia’s Best the name first used by naturalist George Caley Suburb” through an online poll conducted by to describe a koala in a letter to botanist Sir Ninemsn in 2010. Joseph Banks. When Hornsby became a shire in 1906 the name was changed to Mount Colah.
Property Sales July 2014 – June 2015 70
Asquith
93
Mount Colah Mount Kuring-gai
23 0
Source: Corelogic RP Data
10
20
30
40
50
60
70
80
90
100
Top 10 Asquith Sales July 2014 – June 2015 Address
Date
Price $1,260,000
174A Sherbrook Road
21/02/15
6 Mills Avenue
15/05/15
$1,270,000
63A Queens Road
29/08/14
$1,290,000
5A Victory Street
02/12/14
$1,295,000
5 Victory Street
05/11/14
$1,330,000
2 Hyacinth Street
30/07/14
$1,350,000
45 Bouvardia Street
28/03/15
$1,360,000
36 Olive Street
01/11/14
$1,380,000
19 Hazelmead Road
16/05/15
$1,590,000
21 Sunnymeade Close
23/05/15
$1,601,000
Top 10 Mount Colah Sales July 2014 – June 2015 Address
Date
Price
2A Beryl Avenue
25/05/15
$1,050,000
23 Foxglove Road
06/08/14
$1,085,000
34 Sprigg Place
26/06/15
$1,100,000
22 Parklands Road
13/10/14
$1,110,000
5A Willarong Road
22/05/15
$1,111,000
58 Landra Avenue
20/03/15
$1,150,000
7 Northumberland Avenue
17/04/15
$1,150,000
33 Sprigg Place
30/05/15
$1,150,000
29 Parklands Road
23/01/15
$1,200,000
15 Lady Street
06/12/14
$1,508,000
Top 10 Mount Kuring-gai Sales July 2014 – June 2015 Address
Date
Price
4A Glenview Road
29/08/14
$890,000
21 High Street
17/09/14
$890,000
5 Seaview Street
27/01/15
$910,000
33 Nyara Road
04/07/14
$917,000 $950,000
10 Merrilong Avenue
26/06/15
28 Nyara Road
19/07/14
$970,000
3/17 Brisbane Avenue
18/04/15
$980,000
14 Seaview Street
04/02/15
$990,000
1 Glenview Road
25/11/14
$995,000
9 Church Street
07/02/15
$1,190,000
Source: Corelogic RP Data
Recent Sales
Asquith $722,000 Asquith $860,000 Asquith $1,100,000 5/17 Haldane Street 50 Baldwin Avenue 44 Queens Road
Hornsby $905,000 Mount Colah 27 Milner Avenue 33 Sprigg Place
$1,150,000 Mount Colah 34 Sprigg Place
$1,100,000
Mount Colah $1,111,000 Mount Colah $1,035,000 Mount Kuring-gai $980,000 5A Willarong Road 20A Amaroo Avenue 3/17 Brisbane Avenue
Mount Kuring-gai Confidential Pennant Hills $1,680,000 Wahroonga Confidential 9 Church Street 32 Stevens Street 8 Windarra Crescent
Your Area Specialist Nick Berman M 0411 216 332 D 8914 8804 E nickberman@mcgrath.com.au