The Year That Was... 2020

The year that was… 2020.

About Stone Seaforth.

At Stone, you’ll find we do things differently, smarter and more efficiently. With our Australiawide network we are able to deliver more buyers to your front doorstep and achieve your real estate goals faster.

Our sharper leading marketing puts us at the forefront of the real estate industry. We work closely with our clients to achieve the best result.

As an office we draw on over 150 years of combined industry experience. We are a team without high turnover. Whether it’s sales or leasing – each of our consultants is a seasoned professional.

Rest assured you are in capable hands every step of the way.

When the real estate industry was effectively shut down in New South Wales in March, with our significant technological advantages we were able to continue on with business whilst the other agents were struggling to keep up with the unprecedented changes. Over the three month lockdown period we transacted 21 sales and leased 62 properties.

In 2020, we saw a growth of 7.67% for houses and 4.42% for apartments on the Northern Beaches.

The expatriate market flourished in our area and our desirability in terms of a true ‘lifestyle property’ initiated a strong demand both locally and internationally for buyers to secure their own slice of the Northern Beaches.

At Stone Seaforth we’re all about creating, nurturing and maintaining long term relationships, not one-off transactions. Our modus operandi is to have a ‘client for life.’

1

The year that was‌ Seaforth.

As we emerged out of lockdown, our buyer rapport and communication with our database saw buyer confidence starting to increase heading into Spring, as we saw interest rates at an all-time low and the prestige property market stronger than ever. During COVID-19 Maria kickstarted the $4,000,000 sales market in June 2020 with the following sales after there had not been a sale in the $4,000,000 price bracket since July 2019 (property in Richmond Road sold for $4,800,000).

SOLD

41 Edgecliffe Esplanade, Seaforth $4,100,000

116

Number of sales

SOLD

17 Princes Promenade, Seaforth $4,240,000

$11,300,000 Highest sale price

$2,825,000 Average sale price

50

Average days on market

CASE STUDY

27 Richmond Road, Seaforth This property was listed off-market with another local agent who had an offer on the property of $6,100,000.

We took over the listing the following month and launched it to the market with an Expressions of Interest guide of $7,000,000. We issued nine contracts and sold the home for $7,500,000 - a street record! 94 groups inspected during a five-week campaign with 270 email enquiries.

CASE STUDY

15 David Place, Seaforth Other local agents had appraised the home between $5,000,000 and $6,000,000. We secured the listing and sent it to our database of highly motivated and qualified buyers.

We had one off-market database open home and entered into negotiations after the open home ended. We exchanged it two hours after the open home for $6,250,500.

2

The year that was‌ Allambie Heights.

85

Number of sales

$3,000,000+ Highest sale price*

$1,777,500 Average sale price

23

Average days on market

CASE STUDY

11 Anzio Avenue, Allambie Heights During the peak of the COVID-19 outbreak we successfully sold 11 Anzio Avenue under the hammer. 112 groups inspected during the 24 days on market and had 213 enquiries.

There were nine contract requests and four bidders at auction. We saw over 80 groups view the auction that gathered in the street.

Manly Vale.

109

Number of sales**

$2,020,000 Average house sale price

$807,000

Average apartment sale price

27

Average days on market

CASE STUDY

16a Innes Road, Manly Vale 16a Innes Road is a 3-bedroom home that is situated at the rear of a battleaxe block. We showed various buyers through from our database over two Saturdays and exchanged to a young local couple. Off-market, no advertising, just the use of our Stone database.

Clontarf.

28

Number of sales

$9,450,000 Highest sale price

$3,412,500 Average sale price

51

Average days on market

CASE STUDY

2 Moore Street, Clontarf This brand-new luxury-built home was taken through a campaign with another agency, followed by five months of off-market showings. At that point in time, our agency held a single off-market open home, inviting our database of qualified buyers. We entered into negotiations with the purchaser and sold the property. The sale has set the new Moore Street record sale price. * Sold off-market with price undisclosed in the early $3,000,000 range. ** This was predominantly made up of unit sales with houses being extremely tightly held within Manly Vale.

3

The year that was…

Balgowlah Heights.

43

$5,405,000

Number of sales*

Highest sale price**

$3,031,990 Average sale price

38

Average days on market

CASE STUDY

87 Condamine Street, Balgowlah Heights Sold during the peak of the COVID-19 affected market, we had 114 groups inspect the property with most of these prospective purchasers feeling extremely nervous about the property market. Our purchasers needed support in knowing that real estate is a great investment; this home was right for them and they trusted in the agents’ advice. The final result was a win for both buyer and seller; their appreciation was heartfelt.

Balgowlah.

177

$2,395,500

Number of sales

Average house sale price

$1,315,900

Average apartment sale price

35

Average days on market

CASE STUDY

28 New Street West, Balgowlah Street record for New Street West.

Sold for $300,000 above the guide. 71 groups inspected the property during the 27 days on market. There were 10 contract requests with four registered bidders at auction.

North Balgowlah.

64

Number of sales

$4,000,000+ $2,250,000 Highest sale price***

Average sale price

27

Average days on market

CASE STUDY

56 Woolgoolga Street, North Balgowlah 56 Woolgoolga Street was on the market for 21 days with a guide of $3,500,000. There were five contract requests and the property sold prior to auction for $3,800,000 – a street record!

* Approx. 16.5% down from 2019. ** Highest price of 2019 was $8,060,000. *** Sold off-market with price undisclosed in the early $4,000,000 range.

4

The year that was‌ Rentals and Property Management.

During the initial lockdown from March, the market, particularly in the lower end (apartments under $700 per week) crashed significantly, and we saw rental prices dropping as much as 25%. This was due to a glut of properties flooding the market, and a drop in replacement tenants. Fast forward a few months and we saw a complete 180-degree shift in the market, with stock levels dropping as much as 80% in some suburbs. This was caused by two sides of the same coin; one part of the problem was landlords that were living overseas returned home in large numbers and moved back into their investment properties, pushing their tenants out into an already overcrowded marketplace. The other side of the coin was that with no one taking job opportunities overseas, we were not seeing as much new stock coming on to the market. In particular, in the more affluent suburbs, a large proportion of properties were owner-occupiers, who put their homes on the market for lease due to relocating overseas.

CASE STUDY

16 Tottenham Street, North Balgowlah 16 Tottenham Street went live on Wednesday 22nd July with a guide of $2,250 per week. 21 groups attended the first open home on Saturday 25th July. The home was leased on Monday 27th July for $2,600 per week.

LEASED

90 Peacock Street, Seaforth $2,200 per week

LEASED

12 Violet Street, Balgowlah $2,000 per week

LEASED

20 Maroa Crescent, Allambie Heights $1,200 per week

5

LEASED

21/228 Condamine St, Manly Vale $2,000 per week

Team Stone Seaforth.

Maria Cassarino 0411 818 093

Chris Elliott 0410 416 066

Julian Rowe 0412 544 448

Jasmine Walker 0402 626 018

Louise Ashdown 0414 764 108

Byron McDonald 0422 142 863

Marilyn Farquhar 9001 4557

Claire Kinnaird 0402 041 925

Phillip Wright 0488 586 860

Sarah Cass 9001 4560

Darren Batten 0413 424 363

Janet Sajowitz 0419 615 693

Lauren Sudol 0438 138 675

Dani Beecraft 9001 4562

Jordan Ashtari 0406 199 917

Jacinta Major 9949 2822

Livi Hunt 9949 2822

Todd Baker 0407 795 090

6

Call or email our office today to see how the Stone difference can help you.

9949 2822

seaforth@stonerealestate.com.au

stonerealestate.com.au/stone-seaforth 551 Sydney Road, Seaforth NSW 2092

All information provided is correct as of December 2020, with statistics obtained from CoreLogic and realestate.com.au.