Quarterly Market ReportApartments and Townhouses - Cremorne

Quarter 2 - 2015

Quarterly Market ReportApartments and Townhouses - Cremorne

Quarter 3 - 2015

Welcome to our market reportCremorne across all apartment and townhouses saw a slight slow in growth for this quarter with three bedroom apartments taking the biggest hit with a 17% decrease in prices despite there being fewer three bedrooms offered for sale in this quarter. On the positive side, one bedroom apartments saw a whopping 12.5% growth since last quarter and two bedroom apartments experienced 5.5% growth. Interestingly, there are normally fewer properties listed for sale in winter which generally drives prices because demand outweighs stock, however there were five more properties listed for sale this quarter compared to last quarter.

In the third quarter (July to September), there were a total of 70 apartments/townhouses sold in Cremorne, with an average selling price of $945,212. When you compare it to Q3 of 2015, which had an average selling price of $968,340, this indicates a marked decrease of $23,128.

As we move into the spring selling quarter (October – December) the media has been reporting a decrease in auction clearance rates across Sydney and that we are at the peak of the market and there is a change coming next year. The Lower North Shore and our office are still experiencing consistently good clearance rates and strong buyer demand. Now is a great time to sell and we would love to have a discussion with you regarding your next move.

Cremorne StatisticsAverage Price Number Sold Difference from Q2, 2015

1 bedroom $640,638 20 +$36,263

2 bedroom $1,037,884 33 +$130,484

3 bedroom $1,292,857 8 -$229,064

4 bedroom $1,772,750 1

Average sales prices tracked over the last 12 months

Cremorne North Sydney LGA

$1,000,000

$490,000

$575,000

$660,000

$405,000

$745,000

$830,000

$915,000

$235,000

$320,000

$150,000

Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15

Recent Sales

61/81B Gerard Street

7/218 Ben Boyd Road

73/120 Cabramatta

2/25 Harrison Street

4/132 Spencer Road

Street Address Beds Baths Cars Price

4/3-7 Bariston Avenue 1 1 1 $689,000

7/218 Ben Boyd Road 1 1 1 $610,000

14/232 Ben Boyd Road 0 1 1 $490,000

3/240 Ben Boyd Road 1 1 1 $520,000

42/120 Cabramatta Road 1 1 1 $580,000

36/10-12 Gerard Street 1 1 1 $815,000

11/87 Gerard Street 1 1 1 $665,000

8/1-7 Hampden Avenue 1 1 1 $753,000

4/138 Holt Avenue 1 1 1 $568,000

4/24 Iredale Avenue 1 1 0 $698,500

215/2 Macpherson Street 1 1 1 $635,000

306/2 Macpherson Street 1 1 1 $640,000

312/2 Macpherson Street 1 1 1 $647,000

1/14 Macpherson Street 1 1 1 $715,000

208/287 Military Road 1 1 0 $320,000

301/287 Military Road 0 1 1 $333,000

317/287 Military Road 0 1 1 $350,000

415/287 Military Road 0 1 1 $352,500

603/287 Military Road 0 1 0 $325,000

10/27 Murdoch Street 1 1 1 $635,000

206/7 Parraween Street 1 1 0 $600,000

17/65 Parraween Street 1 1 1 $641,000

14/5-7 Sutherland Street 1 1 1 $800,000

2/61 Yeo Street 2 2 2 $1,423,000

1302/206 Ben Boyd Road 2 2 1 $1,250,000

3/58 Benelong Road 2 1 0 $810,000

3/24 Bennett Street 2 1 1 $882,000

19/114-116 Cabramatta Road 2 2 2 $975,000

27/18 Cranbrook Avenue 2 1 1 $1,455,000

For a full list of sales in this area, please visit our website whyurbanliving.com

Recent SalesStreet Address Beds Baths Cars Price

24/81A Gerard Street 2 1 1 $960,000

61/81B Gerard Street 2 1 1 $1,095,000

3/39 Grasmere Road 2 1 1 $1,100,000

6/10 Hampden Avenue 2 2 1 $1,450,000

2/25 Harrison Street 2 1 1 $830,000

1/125 Holt Avenue 2 1 1 $1,150,000

40/6-12 Prospect Avenue 2 2 1 $997,000

10/13 Rangers Road 2 1 1 $968,500

10/29 Rangers Road 2 1 1 $965,000

11/30 Rangers Road 2 1 1 $940,000

31C Rangers Road 2 1 1 $1,291,000

1/36 Rangers Road 2 1 1 $1,291,000

1/25 Reed Street 2 1 0 $815,000

4/132-134 Spencer Road 2 2 1 $1,100,000

9/136-138 Spencer Road 2 1 1 $831,500

8/140 Spencer Road 2 1 1 $940,000

9/236 Spencer Road 2 1 1 $831,500

5/72-76 Spofforth Street 2 2 1 $1,131,000

2/1 Sutherland Street 2 1 0 $815,500

6/40 Sutherland Street 2 1 1 $911,000

3/28 Waters Road 2 2 1 $1,200,000

6/4 Fifth Avenue 3 3 2 $1,550,000

7/77 Grasmere Road 3 2 2 $1,410,000

8/17 Langley Avenue 3 2 1 $1,325,000

7/20 Rangers Road 3 2 1 $1,200,000

2/17 Reynolds Street 3 2 1 $1,400,000

18/94A Spofforth Street 3 2 1 $1,180,000

7/131 Young Street 3 2 1 $985,000

3/31C Rangers Road 4 2 2 $1,772,750

Disclaimer: this document is not intended to demonstrate that LJ Hooker was the selling agent for all of these properties. This report shows 3 months of sold properties, however the median prices and market growth is calculated over a 12 month period. All information contained herein is gathered from sources we consider to be reliable. However, we cannot guarantee or give any warranty about the information provided and interested parties must solely rely on their own enquiries.

Urban Living by LJH is a specialist real estate agency devoted to apartment and townhouse sales.Having identified a genuine lack of real estate expertise purely servicing the apartment and townhouse market on the Lower North Shore, LJ Hooker Lower North Shore has proudly launched Urban Living by LJH, a boutique agency devoted to apartment and townhouse sales. Lead and managed by respected agents Clare Rutledge and Jason Passlow, Urban Living by LJH recognises and understands that selling a strata titled property requires a completely different strategy to selling a family home.

Why choose us?“Thats all it took, we had dealings with the agency before and my father said just call and the rest will be done, and so it was. Thats what you want in real estate; to find someone you can trust. We didn’t even discuss the fee as we knew the service was going to be great. Thanks Clare.”

- Charlie Powell, Ben Boyd Road

Contact your Urban Living Specialists

“Good communication is as stimulating as

black coffee and just as hard to sleep after.”

Bring this coupon into Shot Cafe on Military

for a free regular coffee and stay for the

great conversations!

1/307 Military Road, Cremorne

Clare Rutledge0422 004 825crutledge@ljhooker.com

Daniel Campbell0432 736 745dcampbell@ljhooker.com

Jason Passlow0402 182 632jpasslow@ljhooker.com

LJ Hooker House102 Glover Street

Mosman NSW 20889969 1500

mnb.ljhooker.com.au

This voucher is for a regular size coffee only. Customers who upsize will be required to pay the difference. Vouchers are not redeemable for cash and are not transferable.