NORMANHURST - THORNLEIGH
LOCAL LIVING THE McGRATH NEWSLETTER
Welcome Welcome to this issue of local living. This has been created as a result of many clients feedback who live in Normanhurst and Thornleigh. They have said they would love to know more about what is happening in the real estate market in their pocket. As your area specialist I am please to provide this for you, I trust you will enjoy Kind regards,
Kirsten Mueller M 0408Â 424Â 242 D 8914 8871 E kirstenmueller@mcgrath.com.au
mcgrath.com.au
The Local Market With the financial year coming to a climatic end, Thornleigh and Normanhurst underwent some of the biggest months of growth ever seen in these areas. With a surge in record breaking sales throughout Thornleigh, we have seen the Median house price leap a staggering $198,000 over the last quarter. With the suburb record being broken multiple times firstly by 23 Judson Road, Thornleigh selling under the hammer for a new suburb record of $1,670,000. A mere 2 hours later 20 Handley Avenue, Thornleigh raised the bar higher selling at auction for $1,715,000. Followed closely a few weeks later by 37
Beresford Road, Thornleigh selling again at Auction for the new suburb record of $1,717,000. Normanhurst had a recent sale at 34A Redgrave Road, selling after just one open home for an outstanding result of $961,000, which was $161,000 over the price guide. The property was recently sold in March of 2013 for $720,000, and with absolutely no work being carried out to the property this reflects an increase of 33% over the last 18 months. Feel free to contact me to find out how much your home could be worth in the current market. Source: CoreLogic RP Data
John McGrath Message from the CEO short term. But no! Two interest rate cuts have prolonged Sydney’s boom with a strong 9.1% lift in prices over the first six months of the year alone (CoreLogic RP Data). Where to from here? Affordability is really starting to bite and a lack of stock is pumping up competition – and therefore prices, on good quality homes for sale in good locations.
It’s been another spectacular year of growth in Sydney with property price gains of 16.2% for FY15 – slightly higher than the 15.4% increase of FY14. Most of us expected price growth to begin moderating from January this year following a flood of stock that came onto the market in November 2014, which did affect prices in the
Right now, the lack of stock is being caused by sellers holding off til Spring. They know they could get a fantastic price right now but they’re concerned about being able to buy back in with so few homes available for sale. Hopefully Spring will break the cycle and we’ll see more trading. Bring on FY16.
Your Home Could be the Next Success Story Recently Kirsten Mueller of McGrath Hornsby sold 23 Judson Road, Thornleigh at Auction for an outstanding price of $1,670,000. Throughout the Campaign we had over 31 contracts issued and a further 26 registered bidders attend the Auction. Call me today to see how your home could be the next success story.
Property Sales April – June 2015 16
Normanhurst
34
Thornleigh 0 Source: CoreLogic RP Data
10
20
30
40
Top 10 Normanhurst Sales April – June 2015 Address
Date
Price
14 Campbell Avenue
10/04/15
$1,450,000
34 Malsbury Road
13/06/15
$1,360,000
90 Denman Parade
02/05/15
$1,268,000
28 Hinemoa Avenue
06/06/15
$1,235,000
4 Calga Avenue
27/06/15
$1,230,000
34A Redgrave Road
12/05/15
$961,000
1 Nepean Avenue
04/05/15
$940,000
1B Nepean Avenue
11/06/15
$920,000
7/5 Redgrave Road
08/05/15
$920,000
4 Campbell Avenue
09/05/15
$816,000
Top 10 Thornleigh Sales April – June 2015 Address
Date
Price
37 Beresford Road
20/06/15
$1,717,000
20 Handley Avenue
23/05/15
$1,715,000
23 Judson Road
23/05/15
$1,670,000
23 Handley Avenue
27/06/15
$1,550,000
10 Trelawney Street
16/05/15
$1,450,000
15 Bungowen Avenue
06/05/15
$1,317,000
3 Yarrabung Avenue
18/04/15
$1,308,000
48 Duffy Avenue
04/04/15
$1,215,000
21 Dartford Road
09/05/15
$1,195,000
22 Loch Maree Avenue
02/05/15
$1,182,500
Source: CoreLogic RP Data
Recent Sales
Thornleigh $1,715,000 Thornleigh 20 Handley Avenue 23 Judson Road
$1,670,000 Thornleigh $1,550,000 23 Handley Avenue
Normanhurst $961,000 Normanhurst $920,000 Thornleigh 34a Redgrave Road 7/5 Redgrave Road 48 Duffy Avenue
$1,215,000
Thornleigh $1,041,000 Normanhurst $1,110,000 Thornleigh 71 Beresford Road 17 Oak Street 7 Allamanda Way
$811,111
Thornleigh $770,000 Thornleigh 16/18 Paling Street 20 Silver Ash Way
$880,000
Kirsten Mueller 0408 424 242
$850,000 Normanhurst 45 Harris Road