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