Local Trends & Values
.
With the release of the Sun-Herald Property Guide for 2010 last weekend, there has been some interesting figures revealed.
Our surrounding suburbs recorded the following figures for house sale price changes between 2008 & 2009 calendar years:
Suburb Suburb Rank Change Trend
Balgowlah 68 -9.8% 6.1%
Balgowlah Heights 18 21.1% 8.8%
Clontarf 7 16.7% 9.7%
Fairlight 53 -2.7% 6.4%
Manly Vale 136 7.2% 6.5%
North Balgowlah 96 0.3% 7.7%
Seaforth 33 -9.8% 5.7%
With such an extraordinary result recorded for Balgowlah Heights, let’s dig a little deeper and review what has happened in Balgowlah Heights between 2007 and today.
As shown below, there was a slight decrease in the total number of transactions in 2009 compared to the year prior (-9%), however there was a significant jump with the highest price achieved at $7.6 million (60.5% increase on the 2008 result) with 3 properties selling in 2009 above the 2008 highest price of $4.4million.
Although the statistics may not truly reflect the true growth experienced during the year on all property in the suburb – it’s a great place to live & buyers will tend to pay a premium to secure a Balgowlah Heights address. Removing the 3 top sales for 2009 we reveal an average price of $1,727,500 which equates to 7.5% growth from 2008 to 2009 – a solid performance!
Balgowlah Heights sales so far in 2010* (House / Townhouse / Semi)
Total number listed 14
Total number of sales recorded 2
Total Value Sold $4,120,000
Public Auction No Properties
Private Treaty 2 properties $4,120,000 (Total Value)
Average Price $2,060,000
Highest Sale $ 2,200,000
Balgowlah Heights Sales in 2009* (House / Townhouse / Semi)
Total number listed 56
Total number of sales recorded 48
Total Value Sold $95,877,500
Public Auction 8 Properties $19,480,000 (Total Value)
Public Auction Average $ 2,435,000
Private Treaty 40 Properties $76,397,500 (Total Value)
Private Treaty Average $ 1,909,937
Median Price $ 1,777,500
Average Price $ 1,997,447
Highest Sale $ 7,600,000
Balgowlah Heights Sales in 2008* (House / Townhouse / Semi)
Total number listed 75
Total number of sales recorded 53
Total Value Sold $85,161,060
Public Auction 17 Properties $ 27,418,500 (Total Value)
Public Auction Average $ 1,612,852
Private Treaty 35 Properties $ 55,892,560 (Total Value)
Private Treaty Average $ 1,596,930
Median Price $ 1,440,000
Average Price $ 1,606,812
Highest Sale $ 4,400,000
Balgowlah Heights Sales in 2007* (House / Townhouse / Semi)
Total number listed 62
Total number of sales recorded 59
Total Value Sold $ 102,662,550
Public Auction 17 Properties $ 22,815,000 (Total Value)
Public Auction Average $ 1,342,058
Private Treaty 42 Properties $ 79,847,550 (Total Value)
Private Treaty Average $ 1,901,132
Median Price $ 1,540,000
Average Price $ 1,740,043
Highest Sale $ 4,930,000
We look forward to your posts on the blog with any additional thoughts & comments from our readers.
Please feel free to email us if you have any further questions about the market or real estate in general – it would be great to hear from you.
Till we meet again, wishing you all the best in your property search!
The Team at R&W Seaforth/Balgowlah.
See you at the open for inspections www.teamrw.com.au/buy/opentimes-sales/
To keep an eye on this week’s reported Seaforth real estate, Clontarf real estate, Balgowlah real estate, Balgowlah Heights real estate and North Balgowlah real estate www.teamrw.com.au/buy/local-market-watch/*
*Sales are as reported by Australian Property monitors on 26/02/2010
26.02.10