Median price of northern beach homes now $ 2.21 million | The Stawell Times-News
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news, national, georgi bates, angus white, white house, cunninghams, jake rowe, rowe partners, clarke & humel, james eyden
Estate agents say the current housing boom on the beaches of northern New South Wales is unprecedented, with homes selling for steadily rising prices, often without being put on the market. And often to shoppers from outside – especially from Sydney’s western and eastern suburbs – passionate about the lifestyle. Amid stagnant wage growth, the median house price in Sydney rose 20% in fiscal year 2020/21, according to CoreLogic, from a median house price of $ 1.01 million l last year at $ 1.22 million now. Apartment prices rose 5.3% for the year. The median price of homes on the North Beaches is now $ 2.21 million, up $ 290,000 in six months. Almost two-thirds of leading real estate experts and economists polled in a recent Finder survey predicted the market would peak by the end of the year. But agents at the northern beaches say it’s unlikely, at least in their territory. Georgi Bates of Cunninghams said she had never seen anything like it in the current market. “The northern beaches are the only area that is certainly not cooling down, because of the way of life,” she said. She recently sold a deceased three-bedroom estate at 62 Griffiths Street, Fairlight for $ 4.001 million – nearly $ 1 million more than the price guide – to a developer in west-central Sydney. With over two decades in the industry, even she was “stunned” by the results. âYou had to re-taint it completely, the owner hadn’t done anything for 60 years,â she said. “This is a game-changer for Fairlight. Now I have to completely rethink where we are at.” Their biggest problem is finding stocks to sell, with buyers outnumbering sellers across the board. IN OTHER NEWS: Jake Rowe, director at Rowe Partners, said he didn’t see the market pulling back “in the least”, with interest rates and low stock levels fueling levels of buyers and high prices. âMost sell before or on market date,â he said, noting another interesting trend: a significant increase in the number of buying agents working in the market. Prestige homes were particularly robust, he said, with several recent sales well above listed prices. James Eyden of Clarke &; Humel is also experiencing strong growth in this market. âWe were inundated with requests for luxury housing exceeding the $ 5 million mark, many of which came from the eastern suburbs, Mosman and the mid-west,â he said. “People prefer to be near the ocean if they need to work from home. And even if they end up going back to the office, they will only be doing it a few days a week.” The success of the past six months has led Angus White of Whitehouse Real Estate to open its second office, in Freshwater, in October. “The madness is a bit off the market but that’s because the stock just isn’t there; the demand from buyers is still there,” he said, adding that the Covid restrictions had helped tightening the market, leading to more effective sales with incentives. buyers. A recent open house for 4/208 Pittwater Road, Manly had 18 inspections over three hours in consecutive 10-minute bookings. “You don’t get curious, sticky-nosed neighbors, we’re only dealing with real buyers.” Mr White said the northern beaches were seen as a safe bet in these times of a pandemic. âYou want to be in a safe, clean, secure place and we have it all here,â he said.
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Estate agents say the current housing boom on the beaches of northern New South Wales is unprecedented, with homes selling for steadily rising prices, often without being put on the market. And often to shoppers from outside – especially from Sydney’s western and eastern suburbs – passionate about the lifestyle.
Amid stagnant wage growth, the median house price in Sydney rose 20% in fiscal year 2020/21, according to CoreLogic, from a median house price of $ 1.01 million to l last year at $ 1.22 million now. Apartment prices rose 5.3% for the year. The median price of North Beach homes is now $ 2.21 million, up $ 290,000 in six months.
Almost two-thirds of leading real estate experts and economists polled in a recent Finder survey predicted the market would peak by the end of the year. But agents at the northern beaches say it’s unlikely, at least in their territory.
Georgi Bates of Cunninghams said she had never seen anything like the current market. âThe northern beaches are the only area that is definitely not cooling down, because of the way of life,â she said.
She recently sold a deceased three-bedroom estate at 62 Griffiths Street, Fairlight for $ 4.001 million – nearly $ 1 million more than the price guide – to a developer in west-central Sydney. With over two decades in the industry, even she was “stunned” by the results. âYou had to re-taint it completely, the owner hadn’t done anything for 60 years,â she said.
“This is a game-changer for Fairlight. Now I have to completely rethink where we are at.”
Their biggest problem is finding stocks to sell, with buyers outnumbering sellers across the board.
Jake Rowe, director of Rowe Partners, said he didn’t see the market pulling back “in the least”, with low interest rates and stock levels fueling buyer levels and high prices. âMost sell before or on market date,â he said, noting another interesting trend: a significant increase in the number of buying agents working in the market. Prestige homes were particularly robust, he said, with several recent sales well above listed prices.
James Eyden of Clarke & Humel has also experienced strong growth in this market. âWe were inundated with requests for luxury housing exceeding the $ 5 million mark, many of which came from the eastern suburbs, Mosman and the mid-west,â he said. “People prefer to be near the ocean if they need to work from home. And even if they end up going back to the office, they will only be doing it a few days a week.”
The success of the past six months has led Angus White of Whitehouse Real Estate to open its second office, in Freshwater, in October.
“The madness is a bit off the market but that’s because the stock just isn’t there; the demand from buyers is still there,” he said, adding that the Covid restrictions had helped tightening the market, leading to more effective sales with incentives. buyers. A recent open house for 4/208 Pittwater Road, Manly had 18 inspections over three hours in consecutive 10-minute bookings. “You don’t get curious, sticky-nosed neighbors, we’re only dealing with real buyers.”
Mr White said the northern beaches were considered a safe bet in these times of a pandemic. âYou want to be in a safe, clean, secure place and we have it all here,â he said.
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