First published 19 Jan 2010
We have hit the ground running this January at Century 21, but it seems like the best time to take a moment to reflect on the year past. Despite the persistence of the GFC in 2009, Lower North Shore suburbs including Mosman, Cremorne and Neutral Bay remained strong compared to the previous year.
Mosman maintained strong sales figures in 2009, with a median home price of above $1.9 million and unit price of $540,000, a 2.7% increase on 2008 unit prices in Mosman. In Cremorne, the average house sold for $1.45 million and unit for $570,000. The number of unit sales in Cremorne rose 9% on 2008 sales numbers. Neutral Bay also fared well, with increases in both home and unit sales, with a median house price of $1.125 million and unit price of $530,000.
Now property analysts are looking towards the future and trying to predict what the year ahead holds, weighing factors such as reduced unemployment, the end of the first home owner boost, record low interest rates, a well-publicised housing shortage and strong rental demand. Overall, the prognosis seems optimistic as consumer confidence returns to the market, and that is a view point that we share here at Century 21 Resnekov Realty.
We’ll be sure to keep you posted.
Joshua Wygoda
Figures from RPData
View our complete listings on http://www.century21mosman.com/
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