Wooloomooloo Market Report | Q3 & Q4, 2024 The Harbourside; Waverton & Wollstonecraft. Christian Percuoco 0433 588 871 christian.percuoco@belleproperty.com belleproperty.com
100% List to Sell Clearance Rate 26 Average Days for Auction Campaign $2.3m Average Sale Price 9Years' Experience 24 Sold Q3-Q4 '24 $55m Total Sale's Value Christian Percuoco Real Estate Agent While interest rates and inflation concerns have remained at the forefront of market dynamics, the region's strong appeal has helped sustain buyer interest and property values. As the year comes to a close, the effects of earlier interest rate rises continued to shape buyer behaviour and market activity. The elevated cost of borrowing has led to a more cautious approach among many buyers, particularly investors and first-time homeowners. Media coverage around the economic climate, including inflationary pressures and rising living costs, has further contributed to a sense of uncertainty. Despite these factors, Waverton and Wollstonecraft have demonstrated remarkable market resilience, underpinned by their status as highly sought-after suburbs within Sydney's prestigious Harbourfront Region. Thus, demand for properties in our local area has remained steady, driven by the ongoing appeal of the Lower North Shore lifestyle and excellent local amenities. The strong demographic profile, fueled by the prestige of these areas, continues to attract buyers. A driving force behind this sustained demand is the lack of available stock. For example, only 6 houses have sold in Waverton, while just 11 have sold in Wollstonecraft this year. The limited supply further reinforces confidence in the long-term value of these areas as prime investment destinations. The second half of 2024 has brought continued shifts to the real estate markets of Waverton and Wollstonecraft, reflecting both the ongoing economic challenges and the underlying resilience of the Lower North Shore. July - December 2024 | In Review. Welcome.
The Petrov Affair, 1954 When Vladimir and Evdokia Petrov defected to Australia in 1954, Sydney was caught in the grip of the Cold War. It was a time of intense global tension, with the United States and its allies, including Australia, locked in ideological and strategic rivalry with the Soviet Union. The Petrovs' defection exposed Soviet spy networks worldwide, unravelling hidden alliances and reshaping the balance of power in the early Cold War era. This act of bravery not only uncovered covert operations but also sent shockwaves through Australia’s political landscape, fuelling debates about security, loyalty, and global influence. The ripples extended far beyond national borders, influencing international relations for decades to come. Their journey led them to Sydney’s North Shore, where they were hidden away in a sandstone cottage on the border of Waverton & McMahons Point, a property deeply woven into local history. Known as Billy Blue’s Cottage, the home, originally part of a convict’s estate, became an improbable yet pivotal stage for Cold War intrigue. At a time when rail and maritime trade were reshaping Sydney’s growth and global alliances were vital for national security, espionage and defection brought an extraordinary dimension of international drama to the quiet streets of Waverton and McMahons Point, where the Cold War's shadow loomed large. Did you Know?.... Billy Blue's Cottage 3 Commodore Crescent, McMahons Point 4 Bed | 2 Bath | 1 Car Sold 14 Dec 2021 | $7,775,000
Waverton Market Trends | 2024 The Waverton market experienced notable trends in 2024. Despite a -18.6% decline in the median house price the highest recorded sale was still $6.55M. Conversely, the strata market saw an impressive growth of 19.6%, raising the median sale price to $1.585M and achieving a top sale of $3.97M. These results highlight Waverton's evolving dynamics, with strong performance in both sectors. Highest Strata Sale Price Change in Median Apt Sale Price Median House Sale Price Change in Median House Sale Price 19.6% $3.97m Median Strata Sale Price $1.59m Highest House Sale Price $3.55m -18.6% $6.55m *Data from Pricefinder, Dec 2024 Market Trends | Waverton.
Wollstonecraft Market Trends | 2024 The Wollstonecraft market showed steady growth in 2024. The median house price increased by 3.1%, with a median sale price of $4.5M and a top sale of $9.1M. The strata market also performed well, growing by 6%, with the median sale price at $1.325M and the highest strata sale reaching $3.245M. These figures reflect continued demand across both housing segments in this desirable suburb. Highest Strata Sale Price Change in Median Apt Sale Price Median House Sale Price Change in Median House Sale Price 6% $3.245m Median Strata Sale Price $1.3m Highest House Sale Price $4.5m 3.1% $9.1m *Data from Pricefinder, Dec 2024 Market Trends | Wollstonecraft.
H - House | A - Apartment | TH - Town House | D - Duplex My Stand Out Sales Q3-Q4 '24. Address 2 2 1 1 0 2 2 1 1 2 1 0 1 1 1 2 4 2 2 1 2 2 2 1 2 1 1 1 2 1 3 5 4 3 2 3 3 3 3 2 3 2 2 2 2 A H H D D A TH TH A A A A TH A A $10,900,000 $6,850,000 $3,400,000 $2,950,000 $2,160,000 $2,100,000 $2,100,000 $1,980,000 $1,865,000 $1,610,000 $1,575,000 $1,500,000 $1,400,000 $1,380,000 $1,260,000 Oct Aug Oct Oct Nov Jul Oct Nov Jul Sep Sep Aug Nov Aug Oct abv Price Type Date 1/13 Waiwera Street, Lavender Bay 16 The Avenue, North Sydney 31 Sinclair Street, Wollstonecraft 15A Ross Street, Waverton 9 Carr Street, Waverton 41/267 Miller Street, North Sydney 1C Hume Street, Wollstonecraft 1/2A Hume Street, Wollstonecraft 4/27A Bay Road, Waverton 103/333 Pacific Highway, North Sydney 4/137 Willoughby Road, Naremburn 2/27 King Street, Waverton 3/19-23 Sinclair Street, Wollstonecraft 30/12-14 Berry Street, North Sydney 1/8-10 Milner Crescent, Wollstonecraft Sold | $10,900,000 1/13 Waiwera Street, Lavender Bay 3 a 2 b 2 v SOLD Sold | $6,850,000 5 a 4 b 2 v 16 The Avenue, North Sydney SOLD
Vendor | 3/19-23 Sinclair Street, Wollstonecraft "We recently worked with Christian, the experience was excellent. He provided clear pricing guidance, updated us on feedback, & highlighted our home's best features. His professionalism & persistence made the process smooth. We highly recommend him for his knowledge & attentiveness." Vendor | 8/31 Bay Road, Waverton "I highly recommend Christian. The processes, reporting, and communication were excellent throughout the sale. Christian’s expertise made me feel confident, and my home sold quickly for a great price. His respectful approach and Tessa’s efficiency were standout qualities. The WhatsApp group made everything easy. Thank you!" Vendor | 31 Sinclair Street, Wollstonecraft "We loved having Christian as our agent. From the start, we felt in good hands, and his local market knowledge and clear process were invaluable. His respectful approach, excellent communication, and follow-up with buyers made the sale smooth. A big thanks to Tessa and Irene for their great support in helping us achieve a fantastic outcome!" The experience we would like you to have.... Discover firsthand what makes us stand out. Hear from clients who’ve experienced the exceptional service and results we strive to deliver - your journey deserves nothing less. What Our Clients Have to Say.
Listed in April, we ran a strong campaign and received multiple offers. However, these fell through due to external factors. As a result, we decided the best approach was to take the property off the market. During this time, we re-styled and rephotographed, and remained confident in our strategy. We relisted the property in early September, adopting a fresh approach, hoping to take advantage of the revived Spring market, new buyer pool & warmer/dryer weather. Further, we altered the sale method & strategy. The new campaign generated strong engagement, and the updated presentation proved effective. This led to multiple offers from three different buyers after only three weeks. Two were local downsizers and a third buyer bidding from California, USA. These offers ultimately exceeded those received during the first round, by several hundred thousand. This outcome highlights the importance of perseverance and adaptability in the real estate market. Despite the hurdles faced, our dedication to achieving the best result ensured that the vendor's trust in us was rewarded with a remarkable sale. Sold | Team Percuoco. 1/13 Waiwera Street, Lavender Bay
$1,626pw Median Rental Price, Waverton Houses $898pw Median Rental Price, Wollstonecraft Apartments $816pw Median Rental Price, Waverton Apartments $1,273pw Median Rental Price, Wollstonecraft Houses However, niche areas like Waverton houses are still seeing notable increases, with rents rising by 15.5%, now sitting at $1,626.44 per week. In contrast, unit rents in the area have softened, falling by 5.2% to $816.30 per week. Similarly, in Wollstonecraft, unit rents have dropped by 5.3% to $898.64, while house rents have also seen a slight decrease of 0.7%, bringing the weekly rent to $1,273.35. Despite these fluctuations, landlords are still achieving positive returns, although rental yields have steadied in recent months after a period of rapid growth. Looking ahead to 2025, the outlook remains optimistic. Historical market trends indicate that the first quarter of the year typically shows signs of buoyancy, suggesting that the rental market will continue to be resilient, providing ongoing opportunities for landlords and investors. The rental market has experienced a period of stabilisation after a year of significant growth. Over the past 12 months, we’ve seen most segments of the market level out as the market adjusts to shifting conditions. With Martha Willder Rental Market Update. Martha Willder New Business Manager 0422 378 865 martha.willder@belleproperty.com
With our Preferred Mortgage Broker, Harry Favetti | Azura Financial. The Reserve Bank of Australia (RBA) has maintained the cash rate at 4.35% since February 2024. With the next RBA meeting scheduled for December 10, 2024, financial markets largely expect the rate to remain unchanged, with any potential reductions anticipated in early 2025. General Borrowing Volumes While the Spring selling season in New South Wales has been slower than usual, home loan activity has picked up significantly. Pre-approval applications are on the rise, driven by borrowers eager to position themselves for transactions in early 2025. Many are preparing to take advantage of potential shifts in market conditions, including the prospect of lower interest rates. This proactive sentiment suggests that buyer demand could strengthen noticeably in the new year, potentially reinvigorating the property market with increased competition and sales activity across various sectors. Azura Financial Services Azura Financial Services offers a free service, connecting clients with a panel of approximately 50 lenders. Benefits include faster turnaround times on home loan applications, refinance cash rebates up to $2,000, and free up-front property valuations. Borrowing options with loan-to-value ratios (LVR) of up to 90–95% are available, and certain professionals, such as medical practitioners and legal experts, may qualify for Lenders Mortgage Insurance waivers. Home Loan Market Update. Harry Favetti | Credit Adviser 0416 478 120 harryfavetti@azurafinancial.com.au www.azurafinancial.com.au
Life Update. I am deeply grateful to all the incredible vendors and buyers who made this achievement possible. It is a privilege to be entrusted with someone’s home and greatest asset. In exciting news, I am expanding the team and starting 2025 with a new team member, Tessa. She will be a wonderful addition and will be working alongside me on the sales front. Celebrating a Remarkable Second Half of 2024. It has been another exceptional half and a particularly special one on a personal and career level. At the Belle Property National Awards, I was honoured to receive both 4th place on a national scale, and 2nd place amongst sales agents in NSW/ACT. Together, we have our sights set on the 1st place position and are determined to make the next year even more memorable. Wishing everyone a wonderful festive season filled with Porchetta and Panettone (Tre Marie is the best brand, if you’re asking). Buone Feste, Christian.
Reach our for a free and trusted appraisal Christian Percuoco 0433 588 871 christian.percuoco@belleproperty.com Belle Property Crows Nest Information about this report: We Belle Property have endeavoured to show all sales reported by all agents and individuals as listed on publicly available sources for the mentioned period. We believe this information to be accurate, whilst all care has been taken, no representation has been made and no responsibility is accepted for the accuracy of the whole or any part of this document. Individuals are directed to rely on their own enquiries. Please disregard this publication if your property is exclusively listed with another agent. Properties displayed are only those which have been publicly listed and sold by multiple agents/cies in the area. We advised you seek independent advice on your area statistics if you are thinking of buying or selling. belleproperty.com Contact.
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