QUARTERLY MARKET UPDATE Courtesy of Alliance Real Estate SPRING 2022
The third quarter has seen noticeable change in the local property market. Spring certainly started late as buyers did not start appearing in numbers until mid-September 2022. Since that time the buyer inspection numbers steadily improved as the number of properties on the market stayed lower than usual. The 6 consecutive cash rate rises from the Reserve Bank of Australia have impacted the ability of buyers to purchase and many have had loan pre-approval limits reduced when they have had to renew them. In some cases, buyers have left our local area to move to an area that is more affordable. But we also have received new buyers from the Inner West and St George area who are unable to afford to buy in those areas. Many of these buyers have come to the area due to our train network, schools, and proximity to parks/Georges River. While we expect the cash rate may still increase from the Reserve Bank in the coming months, the announcement regarding inflation at the end of October 2022 is very important. If inflation starts to drop, then we may enter a period of price stability in our market which will be welcomed. I believe that we have gone through the majority of the market correction, and we are close to this period of stability. Auction Clearance rates improved from the low 50% to the low 60% during the quarter which indicates that buyers are still in the market and that owners are taking the change in the market into account when deciding on their reserve. While not all properties sell at auction, the auction clearance rate serves as a weekly health check for the market. The main buyer groups in the local market are younger couples, families, and downsizers. In most cases these buyers are looking for a ready to move in property instead of a property that needs work. Developers are also coming back into the market slowly. Spring and early summer is the best time to place your home on the market as that is when buyers are most active. Should you wish to know what you home might be worth in this market for rent or for sale then please call our large, very experienced, and successful team to assist you. We look forward to hearing from you soon. WELCOME LIKE TO KNOW WHAT YOUR PROPERTY IS WORTH? Call us today on 9771 6115 for an obligation-free Market Appraisal. Theo Kalinderidis Principal Jenny Fisher Sales Consultant Andrew Prodromou Director Tony Kalinderidis Sales Manager Rema Fakhoury Sales Consultant Domi Antalfy Sales Consultant Trang Lazcano Sales Consultant Haley O’Hara Sales Support Rebecca Hughes Sales Support Tatiana Rodrigues Sales Support
Source: Pricefinder & realestate.com.au FAST FACTS: PANANIA, PICNIC POINT, EAST HILLS & MILPERRA PANANIA PICNIC EAST MILPERRA POINT HILLS $1,292,500 $1,372,000 $1,350,000 $1,215,000 $660 $680 $590 $650 Median sale price (Houses) Last 12 months Total sold (Houses + units) Median weekly rental (Houses) For the last 3 months 49 33 10 6 41 42 58 58 Median Days on Market
3A Mactier Avenue, Milperra 2C Roslyn Avenue, Panania 14 Benfield Parade, Panania 72 Ely Street, Revesby 7 Weston Street, Revesby SOLD in your neighbourhood by 4 2 2 4 3 2 3 2 2 3 1 4 4 3 2 $1,150,000 $1,010,000 $1,075,000 $1,255,000 $1,395,000
173 Bransgrove Road, Panania 1/16 Victor Avenue, Panania 192 Bransgrove Road, Panania 20A Fall Street, Revesby 4/135 Lambeth Street, Picnic Point 6 Gorman Avenue, Panania 3 1 2 3 2 2 3 1 3 2 1 2 3 1 2 4 2 3 $1,095,000 $1,105,000 $880,000 $1,210,000 $940,000 $1,272,000
Source: Pricefinder & realestate.com.au FAST FACTS: REVESBY, REVESBY HEIGHTS, PADSTOW, PADSTOW HEIGHTS REVESBY REVESBY PADSTOW PADSTOW HEIGHTS HEIGHTS $1,280,800 $1,300,000 $1,255,000 $1,320,000 47 51 36 46 $600 $675 $642 $622 Median Days on Market Median sale price (Houses) Last 12 months Total sold (Houses + units) Median weekly rental (Houses) For the last 3 months 50 4 52 13
A WORD FROM OUR CLIENTS We recommend Alliance Real Estate as the best Agency We undertook an extensive search to find the right agency to sell our longstanding family home at 7 Weston Street and following an invitation to quote their responding proposal and marketing plan was outstanding – by far the best. Their choice of auctioneer was excellent. Theo leads a great team especially Trang and Jenny and they virtually held our hand on auction day and we are very grateful that they represented us. We would recommend that if you want the “A Team” to sell your property then “Alliance Real Estate Panania” is that team. 7 Weston Street, Revesby - Warwick and Howard Smooth selling Jenny has been exceptional throughout the sales process. She was very efficient in getting things in place for a smooth run. Instant communication was always a high priority for her and the Alliance team. 100% recommend Jenny and the Alliance team Panania! 3a Mactier Avenue, Milperra – David Highly Recommended It was nothing but a pleasure dealing with Trang from Real Estate Alliance Panania. Trang was courteous and considerate in understanding our needs from whoa to go. We were kept appraised of developments, options and offers in a timely and professional manner. We appreciated the knowledge and professionalism Trang brought to achieving the desired outcome and result we wanted. We have no hesitation in recommending Trang Lazcano and wish her continued success in her chosen profession. 20 Burbank Avenue, East Hills - Graham and Helen Excellent Outcome Andrew, Rema and their team did a great job with a very pleasing outcome. I found them to be professional in their approach to the task, efficient in completing the process and willing to make selling an easy process for me. They kept me fully informed and provided feedback after open house viewings. They provided great assistance in getting the house ready for auction. I would highly recommend. 173 Bransgrove Road, Panania - Marea Exceptional Job Domi has done an exceptional job selling our home of 21 years in an unpredictable market. This was our first home so had never sold a property before. Domi has gone above and beyond fielding our many questions, explaining everything in detail. Nothing was ever too hard. She was always available when we needed more questions answered. The whole process was an education. Domi guided us through step by step resulting in a result we will forever be grateful for. Thank you Domi. 67 Carrington Street, Revesby - Mark and Kelli
Recipe provided by Kate Phillips Ingredients 50g melted butter, plus extra for greasing 200g ginger nut biscuits, crushed 1 vanilla pod 400g mascarpone 350g cream cheese 125g caster sugar 2 tbsp cornflour 3 free-range eggs Grated zest of 1 small orange 300g blueberries Method Alliance Real Estate 167 Tower Street, Panania NSW 2213 02 9771 6115 | www.allianceaust.com.au BAKED BLUEBERRY AND MASCARPONE CHEESECAKE 1. Preheat the oven to 180°C/fan160°C/gas 4. Grease a deep, 24cm non-stick springform cake tin with butter. Mix the biscuit crumbs with the melted butter and spoon into the tin. Pat down evenly and firmly with the back of a metal spoon to form the base. Chill for 10 minutes. 2. Split the vanilla pod and scrape out the seeds with the tip of a small knife (keep the pod for making vanilla sugar). Put the seeds in a large bowl with the mascarpone, cream cheese, caster sugar, cornflour, eggs and orange zest. Using an electric whisk, beat until well blended. 3. Stir all but a handful of the blueberries into the mixture and pour it into the tin. Put the tin on a baking sheet, then scatter over the remaining blueberries, pushing them into the mixture. Bake for 45 minutes to 1 hour until golden brown and almost set – it will still be a little wobbly in the centre but will firm up as it cools. Open the oven door but leave the cheesecake to cool inside the oven before removing it from the tin. Chill, covered, for a few hours or overnight, then serve.
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