HAPPY HOLIDAYS

And best wishes for the New Year!


From the Century 21 Resnekov Realty - Mosman team


Your Lower North Shore real estate specialists

4 SOLD IN CREMORNE POINT THIS NOVEMBER

JUST SOLD - 43/4-8 Kareela Road, Cremorne Point

That makes 4 sales in Cremorne Point for the month!

SOLD - 11/95 Milson Road, Cremorne Point

SOLD - 3/13 Milson Road, Cremorne Point

SOLD - 51 Cremorne Road, Cremorne Point


SOLD by Century 21 Resnekov Realty - Your Cremorne Point Specialists

Call us for more details 02 9968 1700 or visit our website www.century21mosman.com

Auction Clearance Rates - for the week ending 14 Nov

JUST SOLD - 35/48 Upper Pitt St, Kirribilli

JUST SOLD - 35/48 Upper Pitt St, Kirribilli

Views, Position and Potential...

For a fantastic price!


Please call Joshua Wygoda 0414 666 190 or Emily Jessee 0404 721 546 for more details


Another Century 21 Mosman success!

Your Kirribilli real estate specialists

Auction Clearance Rates for the week ending 24 October

JUST LISTED - 59 Moruben Road, Balmoral

For more details, visit the Century 21 Mosman website:
www.century21mosman.com or call 02 9968 1700

Auction Clearance Rates for the week ending 17 October

Auction Clearance Rates for the week ending 10 October

Spring activity – The property long view

The spring surge continues with properties selling at an ever increasing rate. There has been a marked increase in sales activity post election. Compare the sales statistics for the 30 days before and 30 days after 21 August:

Total Mosman Residential Sales Pre – Election: 40
Total Mosman Residential Sales Post – Election: 56

Mosman House Sales Pre – Election: 12
Mosman House Sales Post – Election: 24

(Statistics from Australian Property Monitors)

Even though the election dragged on well past 21 August, the resurgence in property started straightaway, with the number of Mosman house sales doubling in that initial period. Since then, the momentum in sales has continued to build, yet the number of homes on the market still remains at extremely low levels compared to the level of buyer enquiry.

Of course the other big news for October is the Reserve Bank announcement last week that interest rates remain on hold for the fifth consecutive month. With many analysts betting on a rise this month, reprieve has come as a pleasant surprise.

Recently released employment statistics, however, point towards the likelihood of a rate rise next month. While in the short term this may make mortgage holders wince, it has an interesting benefit for investors joining the market this year, looking to take the long view on property prices.

Interest rate pressures are being cited as one of the reasons housing building activity is reported at an 18-month low. With the building industry stalled so significantly this year, the housing supply for coming years will be dampened compared to the rate of growth required to avoid a housing shortage. Investors who join the market before the full onset of a shortage could stand to benefit in the years ahead.

If you have been considering selling, this spring is an excellent opportunity to sell in an understocked market place – and for those thinking of buying, now is a fantastic time to join an increasingly exclusive property market. Please contact us anytime to discuss your property options further.

All the best,

Joshua Wygoda & Emily Jessee
0414 666 190 / 0404 721 546
Century 21 Mosman
www.century21mosman.com

Auction Clearance Rates for the week ending 3 October

Auction Clearance Rates for the week ending 12 September

JUST SOLD

2/744 Military Road, Mosman

 

For a HUGE RESULT of $2,350,000

 

Please call for more details 02 9968 1700

 

Another Century 21 Mosman Success!

 

JUST SOLD

8 MacPherson St, Cremorne

 

For a fantastic price of $1,230,000

 

Please call for more details 02 9968 1700

 

Another Century 21 Mosman Success!

Newsletter 8 September

Spring Surge – Interest Rates on Hold


With the return of the good weather, there has been a long-awaited resurgence in the Lower North Shore Property market. But it’s not just the spring sunshine reviving the market after a relatively quiet winter season – the end of the election and steady interest rates have contributed to the new buying and selling sentiment that we have seen emerge in the last few weeks.

Although the election process dragged on for longer than any of us anticipated, the market has moved on from the traditional election campaign period lull. And now that a Government has been formed, everyone is keen to get on with their lives.

Also, the announcement this week from the Reserve Bank that interest rates are on hold for the fourth consecutive month crucially reinforces a stable climate in the housing market, buoying confidence in buyers – ultimately a win for sellers as well.

After a tumultuous start to the year, a new stability has emerged in the Lower North Shore property market. We have seen a burst of new listings (see below) in just the last few weeks, which in turn is breaking the cycle of unsure sellers and attracting new buyers to the market. If you have been thinking about buying or selling, this is a great time to join the Lower North Shore resurgence and take advantage of the many opportunities in the area.

Please call us anytime if there is anything we can do to be of assistance with your next move.

All the best,

Joshua Wygoda & Emily Jessee
0414 666 190 / 0404 721 546
www.century21mosman.com

Auction clearance rates for the week ending 5 Sept

Just Listed - 9 Plunkett Road, Balmoral

Sophisticated, elegant and understated.

Between the sparkling harbour and private bushland reserve: the finest residential lifestyle offered in Balmoral.

Contact Joshua Wygoda 0414 666 190
or Emily Jessee 0404 721 546

www.9plunkettrd.com.au

Hot Property - 43/4-8 Kareela Rd, Cremorne Point

For more information on this property, please contact Joshua Wygoda on 0414 666 190 or Emily Jessee 0404 721 546.

Visit Century 21 Mosman's website for further particulars: www.century21mosman.com.

Auction clearance rates for the week ending 29 August

Auction clearance rates for the week of 22 August

JUST LISTED - Cremorne Point apartment with stunning views

JUST LISTED

 

43/4-8 Kareela Road, Cremorne Point

 

3-bedroom apartment with spectacular views from every room

 

Contact Joshua Wygoda 0414 666 190 or Emily Jessee 0404 721 546

 

Or visit the website www.century21mosman.com for more details

 

 

JUST LISTED - Kirribilli Apartment w/ Amazing Views

JUST LISTED – 14/49B Upper Pitt Street

 

2 bedroom Kirribilli apartment with iconic Opera House views

 

Please contact Joshua Wygoda 0404 721 546 or Emily Jessee 0404 721 546 for more details

 

Or visit www.century21mosman.com

Auction Clearance Rates for the week ending 8 August

JUST SOLD - Middle Head Road Restaurant

JUST SOLD - 11/161 Middle Head Road, Mosman

Known locally as "Bangkok Betty's"

For a fantastic price!

Call Joshua Wygoda 0414 666 190 for more details

Another Century 21 Mosman success!!

Auction Clearance Rates for the week ending 1 August

Interest Rates on Hold - Post-Election Preview

The reserve bank this week has decided to keep interest rates on hold for the 3rd month in a row. The reserve bank has raised rates 6 times since October last year and - according to leading economists - has restored rates to “average levels.” This is a positive outcome for both buyers and sellers with some stability returning to the real estate market.

The interest rate news only adds fuel to our post-election prediction that there will be a rush of both buyers and sellers returning to the market after 21 August. Traditionally, federal elections cause a stall in the residential market as both buyers and sellers await the outcome. This year, we have been fortunate to have a relatively short campaign period, as we know both buyers and sellers are ready to return to life as usual.

This is a positive outcome for buyers who are trying to move now and suffering through the critically low number of homes and apartments currently on the market. We predict a flurry of new properties for sale, which in turn will attract even more buyers back to the property market.

If you have been thinking of buying or selling, it is a fantastic time to join or re-join the market. With spring just around the corner and the election less than 3 weeks away, don’t miss out on this opportunity. Give us a call today to discuss further 02 9968 1700.

All the best,
Joshua Wygoda & Emily Jessee
0414 666 190 / 0404 721 546
www.century21mosman.com

Auction Clearance Rates for the week ending 25 July

Auction Clearance Rates for the week ending 18 July

HOT TIPS - All About Homeloans

Presented by Joshua Wygoda featuring special guest Mark Meekin of Century 21 Home Loans

Auction Clearance Rates for the week ending 11 July

JUST SOLD - 1 Reginald St Mosman

JUST SOLD - 1 REGINALD ST MOSMAN

DIRECTLY AFTER AUCTION

FOR A FANTASTIC PRICE!

Contact Joshua Wygoda 0414 666 190 or Emily Jessee 0404 721 546 for more details

Another Century 21 Mosman success!!

Auction Clearance Rates for the Week ending 4 July

Market Update - End of Financial Year Wrap

As we enter a new financial year this is the perfect opportunity to reflect on the past 12 months and the many changes we have seen with the property market. Most notably have been the volatile auction clearance rates with an emerging downward trend. However, this has not resulted in lower sale prices. In fact, property prices in Australia have actually increased by 12% over the past year.

We have also seen a decrease in stock levels, with some experts reporting an Australia-wide housing shortage. Despite this, from our recent experiences we can confirm that there still plenty of genuine buyers looking to buy quality homes and apartments, including a resurgence of property investors who are now looking to real estate investment as a more stable investment compared to the volatility of the global share markets.

The Reserve Bank of Australia this week has announced the interest rates would remain unchanged for the time being. This is a positive outcome for creating further certainty in the property market.

Despite conflicting and confusing media reports, changes to interest rates and worldwide economic uncertainty, the outlook is positive for the Australian property market and continues to be a smart investment with stability and capital growth even through uncertain economic times. Trends over the past 5 years tell the real story (see graph). While Australian shares have only gained 2.2%, Australian property values are up 42.4% over 5 years. Even looking at the trends over the past 12 months the Australian share market is up only 9.5% versus the Australian property gaining 12%.

Please feel free to contact us anytime for assistance buying or selling in the changing market.

All the best,

Joshua Wygoda & Emily Jessee
0414 666 190 / 0404 721 546
www.century21mosman.com

Hot Property - 1 Reginald Street Mosman

AUCTION in 1 week!! SATURDAY 10 JULY @ 3PM

FINAL INSPECTIONS
Saturday 3 July 12.00-12.45
Thursday 8 July 12.00-12.45
Saturday 10 July 12.00-12.45


Please call us for more information:
Joshua Wygoda 0414 666 190
Emily Jessee 0404 721 546

Welcome to the Century 21 YouTube Channel

As part of our ongoing commitment to providing the Lower North Shore with the most comprehensive real estate news, advice and property previews, we are pleased to announce the Century 21 Mosman YouTube Channel.

Our presentations will feature our prestige homes and apartments currently on offer, up to the minute market news and specialist real estate advice for both buyers and sellers.

You can access the C21Mosman channel by following the links in our regular newsletters, or following the YouTube button on our website: www.century21mosman.com.

We hope you find the C21Mosman YouTube channel to be informative and useful. Please feel free to contact us for all of your real estate needs.

All the best,

Joshua Wygoda & Emily Jessee
Century 21 Mosman
02 9968 1700
www.century21mosman.com

Auction clearance rates for the week ending 20 June

Auction Clearance Rates for the week ending 6 June

JUST LISTED - 1 Reginald St Mosman

FIRST INSPECTION THIS SATURDAY 12.00-12.45PM

Don't miss this fantastic offering - this freestanding Mosman home is packed with potential!!

Move in, lease out, renovate or take advantage of the approved D.A. plans for a substantial new home.

Call Joshua Wygoda 0414 666 190 or Emily Jessee 0404 721 546 for more details.

JUST SOLD - Fantastic 2 bedroom apartment

7/100 Ben Boyd Road, Neutral Bay

 

For more than the asking price!

 

Call Joshua Wygoda 0414 666 190 or Emily Jessee 0404 721 546 for more details

Auction Clearance Rates for the week ending May 30

Rates on hold - Winter is a winner

Common sense prevailed at Tuesday’s Reserve Bank meeting, with the RBA announcing they will keep the cash rate on hold this month. The aggressive rate rise at the beginning of May was definitely felt at open inspections, as buyers were certainly more cautious in the preceding 3 weeks. It was amazing to see the shift last week as the media began to publish articles about the rates holding steady.

 

Now buyers can take a breath. RBA chief Glen Stevens has indicated a probable continuing pause in rates: "Taking all the available information into account, the board views this setting of monetary policy as appropriate for the near term," he said.

 

Already the pause has had a positive effect, as buyers feel more secure that the RBA is acting in their interest, and in a stable and measured manner. This in turn has lead to a resurgence in confidence and a flurry of buying activity - a win for both buyers and sellers.

 

It’s amazing how influential the media has become in the real estate market - property news has become sensationalised in a way that often does more harm to the market than good, citing out of date statistics and splashing dramatic headlines taken well out of context. We’re happy to report from the frontline that all is well; there are still buyers willing to pay the right price for the right home. In the Lower North Shore, there is no “bubble” on the verge of bursting, simply quality properties and buyers looking to live in this desirable area.

 

For those thinking of selling now is a fantastic time. While there is a common misconception that winter is a bad time to sell, in fact it can be a great time because there are fewer properties on the market. And while other sellers take a break, serious buyers aren’t deterred by cold weather. Now that the RBA has settled down, it’s an opportune window to get on the market and sold by spring. Give me a call today if you would like to discuss further - 0414 666 190.

 

All the best,

Joshua Wygoda

Century 21 Mosman

www.century21mosman.com

 

JUST SOLD - CLIFTON GARDENS

3/8 Silex Road Clifton Gardens JUST SOLD

 

For a fantastic result of $1,095,000

 

Another Century 21 Clifton Gardens Success!

 

Call Joshua Wygoda for more details 0414 666 190

JUST LISTED - Fantastic Spit Junction 2 Bed Apartment

JUST LISTED – 507/68-70 Vista St Mosman

 

2 bedrooms, 2 bathrooms and 2 balconies over 2 levels

 

Don’t miss this fantastic offering – first inspection this Saturday 1.00-1.45pm.

 

Call Joshua Wygoda 0414 666 190 or Emily Jessee 0404 721 546

JUST LISTED - Stunning 2 bed Neutral Bay Apartment

7/100 Ben Boyd Road, Neutral Bay

 

FIRST INSPECTION THIS SATURDAY 10-10.45

 

Stunningly renovated 2 bedroom apartment with commanding views of the North Sydney skyline

 

Absolutely a must-inspect!

 

Contact Joshua Wygoda 0414 666 190 or Emily Jessee 0404 721 546

 

See more at www.century21mosman.com

JUST LISTED in Kirribilli

Fantastic apartment with the iconic view we all seek…

 

35/48 Upper Pitt St, Kirribilli

 

First Inspection today!

 

Inspect Saturdays & Thursdays 11.00-11.45

 

Auction 29 May 2010

 

For more details, contact Joshua Wygoda 0414 666 190 or check it out online at www.century21mosman.com

 

Just Sold

Another fantastic result for Century 21 in Cremorne Point!

 

5/71 Milson Street - $1.7million SOLD

 

 

JUST LISTED - Stunning Mosman Attached Residence

16 Prince Street Mosman

Beautiful sandstone 2-story attached residence with massive parking and storage/workshop space.

FIRST INSPECTION TOMORROW (Saturday) 10.00-10.45am

 

For more details, please visit www.century21mosman.com

Mosman leads in premium sales, but sales volume still low

Despite volatility during the GFC, over the past five years premium property values have outperformed the broader market, with an average annual gain of 8.0%. Mosman leads the nation with house sales priced at $1million or higher--over the last 10 years there have been 3,055 houses sold for at least $1million in Mosman, the highest number of any Australian suburb. In 2009, 91% of all homes in Mosman were sold for over $1million.

 

However, the number of houses sold in the premium market has not followed the same upward trend as housing values. The 2009 sales volume figures in the premium market are nowhere near where they peaked in 2007: in Mosman 376 $1million-plus homes were sold in 2007, as compared to 271 last year.

 

The Mosman 2010 first quarter auction figures have made headlines, by leading in the Sydney market with 100 listings (compared to 43 listings during the same period last year). Mosman’s auction clearance rate is up to 67% for the quarter, from a low 37% for the same time last year. This leap in auction success can be attributed by the increase in premium buyers returning to the market, while the volume of properties for sale has remained low, driving competition suited for the auction process.

 

Speaking to buyers on a day-to-day basis, many have been seeking their dream home for many months now, having missed out previously due to competing bids or not yet finding a property that “ticks all the boxes.” They are hungry for homes and units in the area, and are ready to buy now.

 

If you are considering selling, we would strongly encourage you to act now. Buyers are active in the area right now and are eagerly awaiting fresh properties to come on the market. However, as reported previously, this environment will likely change by the end of this year as interest rates continue to rise and the market cools to a more sustainable rate of growth. The press is predicting a “house price slump” and “exhausted market” towards the end of the year, as home loans continue their downward trend.

 

Interested in what current buyer demand could mean for your property’s value? Give me a call today for an obligation free discussion - 0414 666 190.

 

Wishing you all the best,

 

Joshua Wygoda

Century 21 Mosman

 

Sales statistics courtesy of RP Data

 

Recent Successes

 

63 Milson Road, Cremorne Point - SOLD

106/56 Spit Road, Mosman - SOLD

8/11a Silex Road, Mosman - SOLD

21 Wudgong Street, Mosman - SOLD

71 Clanapline Street, Mosman - SOLD

 

Recent Listings

 

3/8 Silex Road, Clifton Gardens - Stunning Renovated 2-bedroom Apartment

2/116 Milson Road, Cremorne Point - Sophisticated 2-bedroom Garden Townhome

3/96 Milson Road, Cremorne Point - Waterfront Reserve 2-bedroom Apartment

5/71 Milson Road, Cremorne Point - 3-bedroom Penthouse, Amazing Views

Sydney Wharf, Pyrmont - 3-bedroom Wharf Penthouse

 

 

 

JUST LISTED in Clifton Gardens

Just Listed – 3/8 Silex Road, Mosman

 

A fantastic freshly renovated 2-bedroom Clifton Gardens apartment. This is a rare offering - don’t miss out!

 

First inspection this Saturday 12-12.45.

 

For more details, check out the website www.century21mosman.com or call Joshua Wygoda on 0414 666 190.

 

JUST SOLD

Just Sold – 106/56 Spit Road, Mosman

 

Ultra-convenient contemporary 1-bedroom apartment

 

We have tons of buyers seeking executive 1-bedroom units. If you have been considering selling, give Joshua Wygoda a call on 02 9968 1700!

JUST SOLD

Just Sold - 8/11a Silex Road, Mosman

 

Luxury apartment with stunning harbour views

 

Another fantastic Clifton Gardens success for Century 21!

JUST SOLD - Cremorne Point Stunner

63 Milson Road has just sold for a fantastic price of $4.45million!

 

This stunning federation family home combines beautiful period features with the best of contemporary al fresco living and entertaining.

 

For more information, please give us a call 02 9968 1700.

 

 

RBA Interest Rate Announcement

This week’s interest rate announcement lifting the cash rate by 25 basis points to 4.25% comes as little surprise after RBA chief Glenn Stevens’ recent hawkish remarks about the Australian property market. Although in his official statement after the RBA Board meeting this Tuesday pointed more to growth in the Asian markets and investment in the resource sector, his sentiment towards using rate rises to control Australian housing affordability is well-publicised, with the cash rate predicted to hit 5.25% this December.

 

In light of the RBA’s aggressive stance on interest rates, we are of the view that if you are considering selling your home or apartment this year, now is the time to act. The buyers are still out in strength and the media is giving favourable coverage to the market. However, it is our opinion that this week’s interest rise indicates a coming plateau or dip in housing pricing.

 

Historically, economic recessions such as the GFC have been directly followed by a temporary bullish increase in property prices, inevitably checked by a downward market adjustment as the economy returns to normal. We’re not suggesting the bubble is about to burst, simply if you would like to maximise your sale outcome this year, now is the time to act.

 

Please give me a call if you would like to discuss more what the interest rate movements mean for the sale or purchase of your home.

 

Kind regards,

 

Joshua Wygoda

02 9968 1700

 

Century 21 Resnekov Realty - Lower North Shore property experts

 

Record Results

A hot new marketplace for Lower North Shore real estate

Last weekend’s “Super Saturday” was NSW’s second biggest auction day on record with 687 auctions (452 in Sydney) and a 70% clearance rate, transacting about $300million in property - a testament that both sellers and buyers are returning to the market in a big way.

 

Figures compiled by the Australian Property Monitors for February and March show that four interest rate rises and three quarters of strong house price growth have barely impacted the overall auction demand.

 

Reserve Bank chief Glenn Stevens made an appearance on breakfast TV earlier this week, and used the opportunity to confirm the widely believed perception that interest rates will go up this year. The market anticipates a rise to a cashrate of 4.25% by June and 5.0% by December.  Many experts are tipping a raise at the April RBA next Tuesday.

 

However, this is not a bad sign--when the RBA says there are rate increases to come, it can represent a fantastic opportunity to invest. Property prices typically don’t fall when interest rates increase: historically, interest rate hikes have coincided with surges in house prices.

 

Michael McPartland, managing director and head of residential real estate at Citi Private Bank, commented on the strength at the top of the market: “The wealth market is relatively insulated. Our clients look for opportunities when everyone else is circling the wagons. Buying becomes opportunistic in a downturn, particularly as people turn to hard assets such as property when other assets experience dislocation.”

 

Current auction activity is increasingly concentrated at the top end of the market, with the median price of property sold at auction in February at $770,000 a record high and well above the median price of $564,000 seen last February. While there has been some cooling at the bottom end of the market, the top end continues to shine, especially at auction.

 

RP Data predicts the most expensive Sydney homes will rise 10-15% this year, making it an attractive market for the international/expat market, even if they do not plan to settle here yet.

 

Australia is increasingly popular for overseas and expat investors. Expats from around the world have declared Australia the best country in the world to raise children, and the recovering professional services market is attracting returning Australian expats and foreign workers.

 

In addition, Australian banks such ANZ, NAB and Commonwealth have strong representation in Asia, enabling loans to be taken overseas in Australian dollars.

 

Australian property is perceived as a stable and safe investment for overseas buyers, particularly from mainland China. Markets in the Asia Pacific region soared in 2009, outperforming their European counterparts. We have also noticed that foreign investors with children studying in Australia are especially drawn to investment properties.

 

The changes to the foreign investment rules last year mean temporary residents can now buy established homes as well as new developments, and the procedure has been simplified for overseas buyers buying new homes and off the plan.

 

Most foreign and expatriate investors are seeking properties within a close radius to the city’s CBD, making the Lower North Shore a popular market.

 

In addition, a well publicised housing shortage is attracting buyers to the market right now. News Ltd is reporting that by 2029, the housing shortfall could reach 500,000 homes and apartments. The housing shortage will be most critical in NSW, which accounts for 1/3 of the nation’s population, but is only developing less than 20% of the nation’s new dwellings.

 

The GFC is in part to blame as property developers struggled to raise funds in 2008-2009, and continue to face strong obstacles to finance post-GFC. This has had a particular impact on high-density developments.

 

Australia is building fewer houses per head of population growth than at any point on record. The Housing Industry Association predicts around 152,000 dwelling commencements this year, fewer than the 190,000 needed to keep up with the rate of population growth.

 

Australian population has tipped 22 million and Sydney’s population has hit 4.5 million. Sydney property market’s median price is set to double in the next 10 years.

 

So what does this mean for you? Right now the property market is hot, especially in areas like the Lower North Shore. The resurgence in homes coming on the market we are seeing is being matched by a swell of buyers. This is the best market to sell we have seen in years, and for buyers who have been looking for months on end, there is exciting new homes hitting the market every week. Call us today if you have been considering buying or selling to learn what the new market could bring you: 02 9968 1700.

 

Wishing all of our clients and future clients a happy Easter holiday.

 

All the best,

 

Joshua Wygoda

Century 21 Resnekov Realty - Mosman

02 9968 1700 - 0414 666 190

 

 

Great result this weekend!

JUST SOLD! 21 Wudgong St Mosman

 

This charming 3.5 bed freestanding house achieved a fantastic result this Saturday of $1.4million.

 

We have tons of buyers seeking freestanding homes in this price range – find out today how much your home could achieve for you: 02 9968 1700.

 

JUST SOLD !!

71 Clanalpine St Mosman

 

Immaculate Family Home with Substantial Entertaining and Indoor/Outdoor Living

 

Did you miss out? Give us a call today and we will find you your next home: 02 9968 1700.

 

 

Interest rates tipped to hold

Most experts agree buyers may get a break next month as lending figures and employment statistic point to a hold on interest rates for April. And good news for buyers is great news for sellers -- if you have been thinking about selling, now is a great time to get on the market. Give me a call today to find out more 0414 666 190.

All the best,

Joshua Wygoda

Century 21 - Lower North Shore real estate experts

 

Lower North Shore Still a Winner

There has been a lot of speculation about what this year will hold. Of all the opinions, I am believer that Lower North Shore suburbs like Mosman, Cremorne, Neutral Bay and Kirribilli will continue to rise in price. The Real Estate Buyer’s Agents Association has put a figure as high as 10% for price growth this year in key Sydney areas such as the North Shore. The Reserve Bank continues to predict rising house prices as well, with a statement this week from RBA official Philip Lowe confirming the effects of the well-publicised continuing housing shortage. Other factors such as low employment, rising migration rates and subdued inflation are also driving the continuing demand for housing.

 

The strength in the housing market is clear from the sheer numbers we are seeing at our open houses and through enquiries about our advertised properties. Auctions are also out-performing this time last year – there was an 86% clearance rate at auction in the Lower North Shore last week, up 37% from the same week in 2009. Our auction at 17 Iluka Road in Clifton Gardens last week took top dollar for the weekend, with the hammer falling on $6.15million for the stunning brand new family home.

 

So if you have been considering selling, now is a fantastic time to get your home ready for sale and on to the market. And if you have been considering buying, it’s a great time to secure a home and watch the value grow. Give me a call today to discuss how to optimise your return.

 

 

 

Some of our Recent Success:

 

17 Iluka Road, Mosman - SOLD - Top auction price for the weekend

9 Silex Road, Mosman - SOLD - Off of Century 21 Buyer Database

148 Cowles Road, Mosman - SOLD - At auction, 5 registered bidders

2/814 Military Road, Mosman - SOLD - Prior to marketing campaign

 

Latest listing:

 

4 Tivoli Road, Mosman - 5-Bedroom Balmoral Residence

2B Park Avenue, Mosman - Luxury Freestanding Townhome

21 Wudgong Street, Mosman - The Great Entertainer

 

All the best,

 

Joshua Wygoda
Century 21 Resnekov Realty
02 9968 1700 - 0414 666 190
Lower North Shore property experts

 

SOLD UNDER THE HAMMER

17 Iluka Road Mosman

 

Fantastic result this Saturday at auction – stunning brand new Clifton Gardens home sold!!

 

We have buyers seeking luxury homes in the Lower North Shore – give us a call today to discuss what this could mean for you 02 9968 1700.

 

See 17 Iluka Road photos at on Facebook: www.facebook.com/joshuawygoda

 

 

JUST LISTED 2B Park Ave, Mosman

Luxury freestanding townhome – Low maintenance designer living

 

This captivating freestanding townhome in esteemed Waterfall Estate address takes full advantage of the natural topography and tranquil wooded surrounds. Spread over three levels in a peaceful and very private location, this sizeable title is an architectural triumph of light and space with state-of-the-art inclusions and only the highest quality finishes.

 

3 Bed 4 Bath 2 Carpark

 

FIRST INSPECTION THIS SATURDAY 12-12.45PM

Contact: Joshua Wygoda 0414 666 190

 

Reserve Bank of Australia raises interest rates 25 basis points

Statement by Glenn Stevens, Governor, Reserve Bank of Australia

At its meeting today, the Board decided to raise the cash rate by 25 basis points to 4.0 per cent, effective 3 March 2010.

The global economy is growing, and world GDP is expected to rise at close to trend pace in 2010 and 2011. The expansion is still hesitant in the major countries, due to the continuing legacy of the financial crisis, resulting in ongoing excess capacity. In Asia, where financial sectors are not impaired, growth has continued to be quite strong. The authorities in some countries are now seeking to reduce the degree of stimulus to their economies.

Global financial markets are functioning much better than they were a year ago and the extraordinary support from governments and central banks is gradually being wound back. Credit conditions remain difficult in some major countries as banks continue to face loan losses associated with the period of economic weakness. Concerns regarding some sovereigns remain elevated.

In Australia, economic conditions in 2009 were stronger than expected, after a mild downturn a year ago. The rate of unemployment appears to have peaked at a much lower level than earlier expected. Labour market data and a range of business surveys suggest growth in the economy may have already been at or close to trend for a few months. There are some signs that the process of business sector de-leveraging is moderating, with the pace of decline in business credit lessening and indications that lenders are starting to become more willing to lend to some borrowers. Investment in the resources sector is very strong. Credit for housing has been expanding at a solid pace, and dwelling prices have risen significantly over the past year. New loan approvals for housing have moderated a little over recent months, however, as interest rates have risen and the impact of large grants to first-home buyers has tailed off.

Inflation has, as expected, declined in underlying terms from its peak in 2008, helped by the fall in commodity prices at the end of 2008, a noticeable slowing in private-sector labour costs during 2009, the rise in the exchange rate and the earlier period of slower growth in demand. CPI inflation has risen somewhat recently as temporary factors that had been holding it to unusually low rates are now abating. Inflation is expected to be consistent with the target in 2010.

With the risk of serious economic contraction in Australia having passed, the Board moved late last year to lessen the degree of monetary stimulus that had been put in place when the outlook appeared to be much weaker. Lenders generally raised rates a little more than the cash rate and most loan rates rose by close to a percentage point.

Interest rates to most borrowers nonetheless remain lower than average. The Board judges that with growth likely to be close to trend and inflation close to target over the coming year, it is appropriate for interest rates to be closer to average. Today’s decision is a further step in that process.

 

JUST SOLD 148 Cowles Road Mosman

SOLD UNDER THE HAMMER

 

Saturday’s auction at 148 Cowles Road was a fantastic success!

 

Give us a ring for more information 02 9968 1700

 

 

How Australia's Housing Market Stacks Up

An interesting global perspective: Today’s SMH reported that Australia’s housing market was a strong performer in 2009 with its 11.2% annual price growth ranked fourth-best in the world, out of 34 countries where data are available.

 

Here’s how we compare with a sample of other countries:

 

Country	% Annual Price Growth 2009
Hong Kong	+ 20.8%
Australia	+ 11.2%
Britain	+ 3.3%
United States	- 2.4%
Ireland	- 11%
Dubai, UAE	- 43.2%
Latvia	- 50.2%

 

We are certainly privileged to have had such a strong and rapid recovery. Give us a call to find out how much more your home is worth today.

 

All the best,

 

Emily Jessee

Century 21 Mosman

02 9968 1700

 

 

JUST SOLD - Luxury Apartment in the Heart of Mosman

JUST SOLD!! 2/814 Military Road, Mosman

 

By Joshua Wygoda – 0414 666 190

Buyers get a break

Buyers can expect respite from continuously rising interest rates. After 3 months of consecutive rate rises late last year, the Reserve Bank of Australia no longer sees the need for a rate rise at each meeting. The minutes of the RBA February meeting reveal that because there had been three consecutive cash rate increases in the late part of 2009, monetary conditions were deemed to no longer be “exceptionally accommodative” although it was determined that interest rates were still “somewhat below average.” The Board did not regard that the outlook required an increase at every meeting, and the removal of government stimulus afforded the Board the flexibility to wait for more information on how the Australian economy responds to the three successive interest rate rises at the end of 2010. Future movements of interest rates are going to be dependent on key indicators the Reserve Bank monitors when contemplating interest rates:  Inflation, labour markets, housing prices, retail spending, levels of consumer and business confidence and global and domestic economic conditions. 

 

So if you have been thinking about buying, it’s a great time to get on the market. And if you are considering selling, call us today to find out what this could mean for you,

 

All the best,

 

Joshua Wygoda

Century 21 – Mosman

02 9968 1700

 

Source: RP Data

 

 

 

Just listed - Freestanding townhouse

1/20A Ellalong Place, Cremorne

 

For those looking for a practical and easy investment property, this elegant freestanding home offers the perfect opportunity. Tenanted until January 2011, avoid the hassles of leasing your new home and keep this gem forever – a “must see” for serious investors.

 

Come to the first inspection this Saturday 10.00-10.45am

 

See the full listing at www.century21mosman.com

 

 

Top End Property Prices Grow 12.5%

Property research company RP Data recently reported great news for Lower North Shore home owners: despite the fact dwelling values climbed 11.1% during 2009 the story was much different across different price points and markets, with more expensive properties generally seeing the strongest growth.

On a national basis, the top 20 percent of most expensive postcodes have recorded the strongest property value growth during 2009 increasing by 11.9% during the year. Interestingly, the recovery was initially led by the most affordable end of the market which recorded value growth of 3.9% during the 1st quarter of 2009 which cooled to 0.0% value growth during the 4th quarter

In Sydney, the top 20% of postcodes have recorded value growth of 12.5% with the middle market recording 11.8% growth and the lower end seeing growth of 9.1% during 2009. Taking a more historical view, the strongest growth in values has consistently been recorded across the top 20% of properties. During each year (except 2008) the most expensive suburbs have recorded the strongest value growth whilst the most affordable 20% have consistently underperformed more expensive property.

This means that for owners across the Lower North Shore, properties have actually experienced more growth than the generic Sydney statistics indicate. Give us a call to find out what this means for you today.

 

All the best,

Joshua Wygoda

Century 21 – Mosman – 02 9968 1700

www.century21mosman.com

 

 

Source: RP Data

Auction or Private Treaty: what's best for me?

When it comes to selling the family home, most vendors are unsure about which method is the best for their property. There are two main differences between selling your home at auction or private treaty: (1) the length and (2) the intensity of the marketing campaign.

 

Private treaty is the most common method of sale in Australia today. It is a quieter and more subtle approach. A few considerations when choosing private treaty are:

 

1. If you are not in a rush to sell your property, you may set the asking price and wait for a buyer prepared to pay your asking price.

 

2. Placing a price on your home will generally ensure that the asking price set will be the maximum you will receive - rarely do buyers offer more that the asking price.

 

3. Little urgency may be felt by potential purchasers to buy your home, due to the unlimited time frame imposed by private treaty.

 

4. Advertising costs can be high as a result of the need to market the property over an extended period of time.

 

During an auction, a property is marketed extensively for a set period and is designed to create interest in the marketplace and strong competition between buyers. Because of this, there are many reasons why sale by auction is effective.

 

Firstly, there is a set marketing period and a final end date, so it is easier to try and plan dates for your move. There is no ‘cooling off’ period, which means that when the house sells at the auction, it's definitely sold. You also have three opportunities to sell. You can accept an offer prior to auction, you can sell on auction day, or if you decide not to sell on the day, you can sell later by negotiating with the buyers generated by the marketing campaign.

 

When discussing the sale method of their property with their agent, a vendor should also take into account their own personal circumstances. If they need to sell the property fairly quickly, sale by auction should be considered over private treaty purely for its sense of urgency.

 

To discuss what’s right for your home, give us a call today.

 

All the best,

 

Joshua Wygoda

Century 21 – Mosman

02 9968 1700

 

It's a Sellers' Market!!

Right now is proving to be an excellent time for our clients to bring their homes onto the market. Buyers are out in droves at inspections and stock levels in the area is still at a record low: property service RP Data reports that “despite significant increases in new stock, total [property] stock sits below the level witnessed at the same time last year suggesting that homes for sale are being absorbed by the market at quite a rapid pace.” Buyer demand has been further fortified as the RBA held interest rates at 3.75% last week.

 

However, this window might not be open for long. So if you are considering selling, call me about getting your home sold today.

 

Some of our recent successes:

 

54 Raymond Rd, Neutral Bay – SOLD – Sold prior to auction from our Buyer Database

 

1/27 Eaton St, Neutral Bay – SOLD – Sold after 2 open houses

 

301/732 Military Rd, Mosman – SOLD – Sold after only 1 open house!

 

All the best,

 

Joshua Wygoda

Century 21 Resnekov Realty

02 9968 1700 – 0414 666 190

Lower North Shore property experts