QUARTERLY MARKET UPDATE Courtesy of Alliance Real Estate WINTER 2022
The second quarter of 2022 ushered in a changing local property market. From Easter onwards we noticed more property coming onto the local market, buyer numbers starting to decrease and days on market rising. We also saw auction clearance rates drop to around 50% which indicates a balanced rather than a boommarket. Despite this we have still sold some local property at great prices. Most interest was for well presented family homes and for villas. The official cash rate increased consecutively (3 months in a row) from 0.1% to 1.35%. We do expect that this rate may increase further as the Reserve Bank looks to keep inflation under control. What this means for the local property market is that rising interest rates will reduce numbers of buyers as they will need to be able to service a loan with greater interest payments. This will have the effect of reducing buyer demand. We are starting to see this occur in a minor way in our area. However, properties that are priced in line with the current market and are presented very well have a greater chance of selling for a strong price. On the rental front we have seen demand for rental properties jump up while the sales market is changing. For the first time in over 2 years, we are noticing that rental prices have increased by up to 5% and even higher for new or as new properties. This will be welcome by many landlords that were unable to lift rents during the COVID years. Should you wish to know what your 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
Source: Pricefinder & realestate.com.au FAST FACTS: PANANIA, PICNIC POINT, EAST HILLS & MILPERRA PANANIA PICNIC EAST MILPERRA POINT HILLS $1,300,000 $1,372,000 $1,400,000 $1,230,000 $650 $670 $590 $580 Median sale price (Houses) Total sold (Houses + units) Median weekly rental (Houses) For the last 3 months 49 19 11 14 28 27 39 25 Median Days on Market
88 Vega Street, Revesby 11 Enright Street, East Hills B7/19-29 Marco Avenue, Revesby 15 Ashmead Avenue, Revesby 59 Morotai Road, Revesby Heights SOLD in your neighbourhood by 2 1 1 3 1 4 3 1 3 5 3 4 3 2 2 $2,175,000 $1,150,000 $630,000 $2,150,000 $1,350,000
29 Bruce Avenue, Panania 97 Beaconsfield Street, Revesby 37 Killara Avenue, Panania 94A Victoria Street, Revesby 58 Braesmere Road, Panania 7 Delia Avenue, Revesby 4 2 2 3 3 4 3 1 4 3 1 2 2 1 1 7 5 4 $1,341,000 $1,800,000 $1,360,000 $1,900,000 $1,531,000 $1,330,000
Source: Pricefinder & realestate.com.au FAST FACTS: REVESBY, REVESBY HEIGHTS, PADSTOW, PADSTOW HEIGHTS REVESBY REVESBY PADSTOW PADSTOW HEIGHTS HEIGHTS $1,337,500 $1,280,000 $1,250,000 $1,320,000 24 30 23 25 $590 $650 $600 $550 Median Days on Market Median sale price (Houses) Total sold (Houses + units) Median weekly rental (Houses) For the last 3 months 44 7 49 13
A WORD FROM OUR CLIENTS Customer Service & Results We’d like to thank Theo, Domi & Jen and the entire team who did an outstanding job selling the property. We found that they were not pushy salespeople and were very approachable. They got outstanding results and got back to us in a timely manner. I normally don’t provide reviews but I would strongly recommend them to anyone selling a property. 88 Vega Street, Revesby Honest and caring Jenny was wonderful from start to finish. Always available when we had any questions, provided a very thorough summary of the service she would provide, and then delivered on that promise and exceeded all expectations. Jenny made the whole process stress free and we can't thank her enough. 15 Ashmead Ave, Revesby – Steve Dedicated, supportive and successful We were impressed by Trang when we bought a property from her and since then have engaged her to sell a couple of our properties. Trang stands out from other agents for being extremely responsive, supportive and trustworthy. Plus she gets results! Her intuitive and personal manner, as well as dedication and attention to detail ensures an informed, unpressured - and successful - sales process from start to finish for both the vendor and the buyer. 29 Doris Street, Picnic Point - Mark and Sofia Fantastic professionalism We consider ourselves lucky that the first real estate agent we met to sell our house was Domi. We didn’t need to look any further. Her professionalism, market knowledge and honesty was clearly displayed on our first meeting. Not only did she help us sell our property, but she provided valuable insight into properties we were looking at purchasing. Domi really went above and beyond and her communication was outstanding. We appreciated her honesty and trust with us, but also in how she dealt with the purchaser. She made it a smooth process for all involved and we were very happy with the final result. 37 Killara Ave, Panania - Adam and Nicole Helpful and realistic We found Andrew to be available to answer any questions, and realistic about the changing market. In the end, he achieved our house sale under difficult circumstances. We had used Andrew before for other family members, so it was an easy decision for us to use him for our own house sale. 29 Bruce Avenue, Panania – Kerry and Peter
Recipe provided by Mariam Taiba Ingredients 500g of lean lamb or beef mince ½ bunch of continental parsley, finely chopped (stalks removed) ¼ medium onion, finely chopped ¼ red capsicum, finely chopped ¼ tsp salt A pinch of Lebanese 7 spice seasoning (optional) Lebanese bread or pita bread Method 1. Combine all ingredients and mix well with your hands until well combined. 2. Open a Lebanese or pita bread. Place a handful of the kefta on one half and spread all over the bread in a thin layer. 3. Close the bread and press gently together. 4. Place in a sandwich press and cook until the bread is golden brown. This will usually be enough time to cook through the meat. If you do not have a sandwich press, you can place under the grill, turning it over until golden brown. Ingredients 300mls of natural or Greek yogurt 3 large Lebanese cucumbers, finely diced 1 clove of garlic (crushed) ¼ tsp dried mint Method Combine all ingredients together and season with salt. If the consistency is too thick, you can add a little cold water to make it a little runny. Alliance Real Estate 167 Tower Street, Panania NSW 2213 02 9771 6115 | www.allianceaust.com.au KEFTA IN LEBANESE BREAD An easy, child-friendly meal. Yogurt and Lebanese Cucumber Dip
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