localmarket - p.hprez.com · observation is the lack of stock with just 1,427 listings advertised...
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Your local property report local market LJ Hooker Double Bay Group November 2019 (02) 9327 1000 [email protected] doublebay.ljhooker.com.au This report covers your local suburbs of Bellevue Hill, Darling Point, Double Bay, Dover Heights, North Bondi, Rose Bay, Vaucluse and Woollahra
Transcript of localmarket - p.hprez.com · observation is the lack of stock with just 1,427 listings advertised...
Your local property reportlocalmarket
LJ Hooker Double Bay Group
November
2019
(02) 9327 [email protected]
This report covers your local suburbs of Bellevue Hill, Darling Point, Double Bay, Dover Heights, North Bondi, Rose Bay, Vaucluse and Woollahra
What’s happening in our local property market
Strongest growth Most traded Fastest sellers
Top performing local suburbs
SuburbNumber
SoldMedian
Sale PriceChange in
Median PriceAnnual Change
over 10 years
Houses
Units
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Across our local market, we have seen 1,427 properties listed for sale, over the past 12 months, which is higher than the same time last year. This has impacted sales with 1,002 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Vaucluse which has seen its median sales price grow by 24.3%. The median sales price of a home in Vaucluse is now $6,250,000. Dover Heights saw its median house sales price grow by 7.7% with the median price now sitting at $4,320,000 and Rose Bay grew 1.3% across 52 individual sales with a median of $4,050,000.
The most traded suburb for houses in our area has been Vaucluse with 84 homes sold over the past 12 months while Bellevue Hill had the most unit sales with 125 transactions. House prices in Vaucluse have performed strongly with growth of 24.3% and now have a median price of $6,250,000.
Woollahra has demonstrated the strongest price growth for units with prices rising 10.0% over the past 12 months. The median sales price for units in Woollahra is now $1,320,000 and with a median rent of $700 a week, they offer a rental yield of 3.3%.
The highest median housing rents in our area are $2,250 per week in Vaucluse and for units $860 per week in Darling Point. Housing rental yields in North Bondi are currently 3.2% which might be suitable for investors.
The time it takes to sell a house in our region ranges from 42 days in Rose Bay to 124 days in Dover Heights, and the shortest median time to sell a unit is 44 days in Woollahra.
Property prices have eased according to the latest New South Wales data from CoreLogic but what does that mean for buyers and sellers in our local area?At LJ Hooker Double Bay Group we've noticed that there are two big drivers occurring in the market currently. The first is that despite price softening, economic indicators have increased buyer demand and confidence. This has been created by lower interest rates, tax cuts and a subtle easing in credit policy, together with a stable federal government post election. This means buyers are active and looking to buy well. The second observation is the lack of stock with just 1,427 listings advertised in the past 12 months compared to 1,410 in the year prior. For sellers, this means well priced properties are still selling as there is not a lot of competition. Let's take a look at the rest of the data for our local market.
Vaucluse24.3%
Woollahra10.0%
Vaucluse84 sales
Bellevue Hill125 sales
Rose Bay42 days
Woollahra44 days
Vaucluse
Dover Heights
Rose Bay
Woollahra
Darling Point
Dover Heights
84
42
52
88
55
16
$6,250,000
$4,320,000
$4,050,000
$1,320,000
$2,570,000
$1,270,000
24.3%
7.7%
1.3%
10.0%
9.8%
-3.4%
7.4%
6.2%
11.0%
8.0%
7.0%
2.8%
Suburb snapshot
Houses
Units
Number Sold
Median Sale Price
Annual Change in Median Price
Median Asking Rent
Indicative Gross Rental Yield
Total Listings
Average Days on Market
Total Value of Sales
Our local area expertise – investing
Highest yielding suburbs in our area
SuburbNumber
SoldMedian
Sale PriceChange in
Median PriceMedian
Asking RentIndicative
Gross Rental
Houses
Units
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For housing investors, the best buying in our area can be found in North Bondi where houses are returning a 3.2% yield, while units in Dover Heights are returning a 3.8% yield - making it a good place for savvy investors to look for inflation-beating returns.
The median price of a house in North Bondi currently is $2,487,500 and average rents are $1,700 per week whereas median unit prices are $1,270,000 in Dover Heights with rents of $720 per week.
Unit prices in Dover Heights have eased -3.4% over the past year, meaning the suburb is now offering some good buying for smart investors.
North Bondi is the second best yielding unit suburb in our area with units that cost around the median price of $1,170,000 returning 3.6% with median asking rents of $750 per week, while Vaucluse also is worth watching with returns of 3.5% based on a median price of $1,110,000 and rents of $740 per week.
For those interested in investing in houses, also consider Woollahra where prices have fallen by -7.4% while yields are 2.7% - although this would most likely require a negative gearing investment strategy.
84 49
$6,250,000 $1,110,000
24.3% -20.7%
$2,250 $740
2.4% 3.5%
126 78
47 54
$670.2m $64.99m
This month it’s all about Vaucluse
● One of the most popular suburbs in our region is Vaucluse where 126 houses were listed for sale over the past year. Houses in Vaucluse have an average land size of 768 square metres.
● The suburb also has a medium apartment market with 78 units listed for sale over the past year.
● The suburb is tightly held with residents typically holding their house for 12.9 years.
● The median value of houses in Vaucluse is $5,070,177. This is lower than the median sales price which is currently $6,250,000.
● Over the past 12 months, buyer interest has eased with 84 houses sold this year compared to 94 sales last year.
● Houses are typically selling within 47 days.
● ● All of this means it is now a good time to buy in Vaucluse.
LJ HOOKER DOUBLE BAY GROUP
North Bondi
Woollahra
Dover Heights
Dover Heights
North Bondi
Vaucluse
69
79
42
16
57
49
$2,487,500
$3,092,500
$4,320,000
$1,270,000
$1,170,000
$1,110,000
-13.5%
-7.4%
7.7%
-3.4%
-11.4%
-20.7%
$1,700
$1,550
$1,500
$720
$750
$740
3.2%
2.7%
2.5%
3.8%
3.6%
3.5%
Data for this report is provided by CoreLogic RP Data. In compiling this publication, CoreLogic has relied upon information supplied by a number of external sources. CoreLogic does not warrant its accuracy or completeness and to the full extent allowed by law excludes liability in contract, tort or otherwise, for any loss or damage sustained by subscribers, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the information in this publication through any cause whatsoever and limits any liability it may have to the amount paid to CoreLogic for the supply of such information. This data is provided as general information only and is not intended as financial advice. For our complete terms and conditions of use, go to www.corelogic.com.au
KNOW WHAT YOUR PROPERTY IS WORTH IN TODAY’S MARKET.
Ask the team at LJ Hooker Double Bay Group.
THE TEAM
(02) 9327 1000 [email protected]
LJ HOOKER DOUBLE BAY GROUP
doublebay.ljhooker.com.au
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For 90 years people have been at the core of our business.
We’re extremely proud to be the winner of the prestigious
Canstar award for the Most Satisfied Real Estate Customers. You’ll always be at the centre of everything we do.
Real estate is not about houses, it’s about people.- Sir Leslie Hooker
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