The Year That Was... 2021

The year that was…

2021

stonerealestate.com.au

The market.

The real estate industry certainly had its challenges this past 12 months with various lockdowns and restrictions imposed on how we inspected properties, carried out buyer inspections, prepared properties for the market and so forth. However, due to our technological advantages and experience with changing markets over the years, we had the ability to adapt quickly to the sudden change in real estate protocol and were able to continue with business as usual whilst our competitors were struggling to keep up with the unprecedented changes. This in turn benefited our clients who took advantage of one of the best markets we have seen in 30 years. Changing lives is what we do best.

Despite the challenges of the past year, we have seen significant growth on the Northern Beaches with most suburbs increasing in excess of 30%. The expatriate market flourished throughout the year and once again our desirability in terms of true ‘Lifestyle Property’ has initiated a strong demand both locally and internationally for buyers looking to secure their own piece of Northern Beaches heaven.

As an office we draw on over 160 years of combined industry experience. We are a growing team of professionals driven with success without high turnover. Whether its sales or leasing – each of our consultants are experienced, highly trained, licensed real estate agents, and seasoned professionals.

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

With our Australia-wide network of 51 offices and centralised database, we can deliver more buyers to your front doorstep and achieve your real estate goals faster.

Our cutting-edge marketing puts us at the forefront of the real estate industry, and we work closely with our clients to achieve the best result. We look forward to another great year of business in 2022.

The year that was…

Seaforth We had a very strong start to the year with high clearance rates and buyer confidence. We saw the market recover from the effects of the previous year during Covid-19. Buyer demand was on the rise and stock was short, driving the prices to an all-time high. Through the year we have seen a continuous rise in the market with over $130,000,000 worth of property SOLD by Maria Cassarino and the team at Stone in Seaforth for 2021.

After entering lockdown again in July, we still saw the market continue to perform with buyers still inspecting properties via private inspections and records still being achieved. A property’s average day on the market was getting shorter as the high demand started to become satisfied towards the end of October.

SOLD

Seaforth 64 Ellery Parade

Number of sales

42

$6,500,000 STREET RECORD

Highest sale price

$16,800,000

SOLD OFF MARKET

Seaforth 82 Edgecliffe Esplanade

Average sale price

$4,463,000 Seaforth 17 Castle Circuit

$7,100,000 STREET RECORD

Average days on market

24

CASE STUDY

We sold this property in November 2019 for $3,200,000.

The owners did some minor capital improvements including a swimming pool. We listed the property for auction with a guide of $4,500,000. It sold prior to auction after only 8 days on the market for $5,570,000.

Seaforth 7 Prince Edward Road

CASE STUDY

This property was listed with a guide of $3,800,000.

The property was set to go to auction however, sold prior for a street record of $4,100,000. The property had previously sold in 2018 for $2,400,000 and only had minor capital improvements done.

The year that was…

Allambie Heights

Number of sales

123

Highest sale price

$3,550,000

Average sale price

$2,610,000

Average days on market

14

Allambie Heights 22 Bate Avenue

CASE STUDY

This charming single level brick home was listed at the end of April, right as the market started to really heat up.

We had a guide of $2,200,000 and 49 groups inspected during the 1 week that the property was listed on market, with a total of 152 enquiries. The property sold for $2,860,000, which exceeded the vendors expectations.

Manly Vale

Number of sales

145

Highest sale price

$3,825,000

Average sale price

$2,650,000

Average days on market

16

Manly Vale 7/2a Campbell Parade

CASE STUDY

This apartment was on the market for a total of 14 days, we had 31 groups through the property and 6 contracts were issued. It sold to an investor for $1,635,000 setting a new block, street and suburb record! The last time this property sold, was in 2014 for $810,000. The property’s value has more than doubled, over the past 7 years.

91% of properties in Clontarf are owner occupied, FUN with only 9% offered as rental properties.

FACT

Clontarf

Number of sales

28

Highest sale price

$11,500,000

Average sale price

$4,555,000 Clontarf 100 Cutler Road

Average days on market

39

CASE STUDY

Guide: $3,900,000. Original P&O architecture home, spanning over two titles with gorgeous harbour views overlooking the Middle Harbour, this was a highly sought property when it hit the market in June this year.

A 4-week auction campaign with an initial guide of $3,900,000. Total of 48 attendees, with 13 contracts issued. Sold prior to auction on week 3, for $4,300,000.

Balgowlah Heights

Number of sales

53

Highest sale price

$8,570,000

Average sale price

$4,190,000

Average days on market

19

Balgowlah Heights 22 Dobroyd Road

CASE STUDY

This property had been listed with our office just a week after lockdown was enforced. We had an onerous task of providing one on one buyer appointments and after 54 individual inspections and 10 contracts issued over 2 weeks, we were able to sell the property at half a million dollars above the vendors expectations and set a new street record of $5,000,000.

Balgowlah

Number of sales

220

Highest sale price

$6,100,000

Average sale price

$3,387,000

Average days on market

17

Balgowlah 31 Lower Beach Street

CASE STUDY

Sold for $300,000 above guide. Street record for Lower Beach Street, Balgowlah. 26 groups from our database inspected the property for our catered VIP launch. 7 contracts were taken, and the property sold for a record within 4 days.

North Balgowlah

Number of sales

51

On average, North Balgowlah homeowners have lived in their home for 11 years.

Highest sale price

$5,350,000

Average sale price

$2,955,000 North Balgowlah 6 Gloucester Street

FUN FACT

Average days on market

17

CASE STUDY

Guide: $3,800,000. 6 Gloucester Street was listed throughout the peak of lockdown. After 38 one on one buyer inspections, and just a week of being on the market, the property sold prior to auction for a street record of $4,348,000.

The year that was…

Rentals and Property Management

After the rollercoaster that was 2020, the rental market, particularly houses, started off very strong in 2021.

This was in part due to an influx of expats returning home and moving into their investment properties which pushed tenants back out into the market. What we saw was a perfect storm of extremely low stock levels and large numbers of displaced tenants trying to find homes for their families. This resulted in large numbers of open home attendees, and often properties leasing for sometimes hundreds of dollars over the asking price. As of around March, we saw that the rush had settled and things returned to a more seasonal rental market, where price and presentation were back to being key factors in minimising vacancy.

Fast forward a couple of months, and another drawn out lockdown created greater demand than ever, with people seeking more space for work from home and lifestyle locations closer to beaches, parks, and coastal walks. This was coupled with the requirement to show people through properties one at a time which led to having in some instances, over 100 people wanting to view properties, and only a fraction being able to inspect due to time restraints. All of this led to even more competition and even higher prices being achieved.

Coming out of lockdown and heading into Christmas, the market has once again returned to a more seasonal spring/summer market, with steady demand particularly for family homes and people looking to find a home prior to the cut off for school catchments in January 2022.

Seaforth 51 Seaforth Crescent

CASE STUDY

Leased: $3,500 per week. This property was leased during lockdown with nearly 30 people enquiring to inspect. We leased the property after just one group of private appointments, with multiple applications.

LEASED

Seaforth 19-21 Ellery Parade

$2,800 per week

LEASED

Seaforth 9 Frenchs Forest Road

LEASED

North Balgowlah 8 Kimo Street

$1,900 per week

$1,400 per week

LEASED

Manly Vale 6/62-64 Kenneth Road

$700 per week

Team Seaforth

Maria Cassarino 0411 818 093

Chris Elliott 0410 416 066

Phillip Wright 0488 586 860

Darren Batten 0413 424 363

Julian Rowe 0412 544 448

Louise Ashdown 0414 764 108

Chris Lewis 0431 179 861

Lauren Sudol 0438 138 675

Todd Baker 0407 795 090

Byron McDonald 0422 142 863

Aimee Atkins 0402 843 730

Jordan Ashtari 0406 199 917

Claire Kinnaird 0402 041 925

Sarah Cass 0472 682 954

Livi Hunt 0420 466 538

Kristy Thomson 0432 503 144

Marilyn Farquhar 9949 2822

Nicole Fong 9949 2822

Sophie Price 9949 2822

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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 2021, with statistics obtained from CoreLogic and realestate.com.au.

Prices are indicative only and rounded where applicable.

stonerealestate.com.au