MAROUBRA PROPERTY REPORT SPRING 2023 Courtesy of Ray White Maroubra | South Coogee
WHAT’S HAPPENING IN OUR MARKET? Year-on-year, we are now recording the strongest growth since July 2022. Australian house prices increased by 6.% while units increased by 4.3% over the past 12 months. While there was speculation that house price growth would slow once more properties became available for sale, this doesn’t seem to be the case. Buyer demand remains robust, despite finance costs and the relative difficulties in getting a home loan compared to 18 months ago. Nearly all major cities saw listings decline in September. On a year-on-year basis, however, the trend is far more positive. Sydney is leading the charge with total listings up almost 26%. At this point, it does look like the supply/demand imbalance between people wanting to buy and the number of properties for sale will ensure that price growth continues. Ray White listing authorities (the point at which a vendor signs to a Ray White agent but the property is not yet advertised) pulled back in Sydney and Melbourne in September relative to August. If this trend continues, and starts to be observed in other states, it’s likely that this will be a contributor to continued price growth, alongside ongoing strong population growth and low housing supply. If you’re considering a move, buying or selling, give our expert team a call. We look forward to helping you realise your property goals. Phillip Elmowy Anthony Vella Alex Santelli DIRECTOR DIRECTOR DIRECTOR
SOLD 238 Boyce Road, Maroubra House SOLD 2/33 Henry Street, Randwick Apartment SOLD 112 Marine Parade, Maroubra House SOLD 2/7 Flack Avenue, Hillsdale Apartment SOLD 73 Hinkler Street, Maroubra Semi SOLD 285 Fitzgerald Avenue, Maroubra Semi SOLD 40 Dransfield Avenue, Mascot House SOLD 142/26 Jasmine Street, Botany Apartment RECENT RESIDENTIAL SALES
Compared to five years ago, the median sales price for houses in Maroubra has increased 33.3% which equates to a compound annual growth rate of 5.9% FAST FACTS MAROUBRA 1. 5. 3. HOUSES AVERAGE DAYS ON MARKET 61 MAROUBRA HOUSES UNITS MEDIAN $2,760,000 MEDIAN $905,000 HIGHEST $10,650,000 HIGHEST $2,330,000 LOWEST $1,515,000 LOWEST $410,000 4. LEASE MEDIAN HOUSE RENT (3 BED) $1,300 MEDIAN UNIT RENT (2 BED) $800 Source: CoreLogic RP Data 19 July - 19 October 2023 2. SALES $2.0M 100 $2.5M 200 $3.0M 300 $1.5M 0 2019 2020 2021 2022 2023 MEDIAN HOUSE SALE PRICE NUMBER HOUSES SOLD 59 HOUSES SOLD LAST 3 MONTHS UNITS SOLD LAST 3 MONTHS 80 62% HOUSE AUCTION CLEARANCE RATE
LEASED 10/250 Pitt Street, Sydney Offices LEASED Shop 1, 2/928-930 Anzac Pde, Maroubra Retail SOLD 114 King Street, Newtown Retail SOLD 199-203A Malabar Road, South Coogee Retail SOLD Suite 2.08/90 Bourke Road, Alexandria Offices LEASED Ground 642-644 Bourke St, Surry Hills Retail SOLD 1/51 Bourke Road, Alexandria Showroom LEASED 251 Coward Street, Mascot Industrial/Warehouse RECENT COMMERCIAL ACTIVITY
YOUR RAY WHITE TEAM DIRECTORS Anthony Vella 02 8347 6085 0412 232 904 Phillip Elmowy 02 8347 6060 0425 285 444 RESIDENTIAL TEAM No.1 NSW/ACT Property Management Business of the Year 2019/2020 & 2020/2021 No.3 NSW/ACT Property Management Business Development of the Year 2019/2020 No.9 Blue Office Settled Commission 2019/2020 Premier Business Leader 2020/2021 & 2021/2022 RAY WHITE MAROUBRA SOUTH COOGEE RAY WHITE COMMERCIAL SOUTH SYDNEY 781 Anzac Parade Maroubra NSW 2035 (02) 8347 6000 rwre.com.au 11 Joynton Avenue Zetland NSW 2017 (02) 9101 8000 rwcss.com COMMERCIAL TEAM Amber Halil New Business Development Amy Vella Licensed Real Estate Agent Dean Cassidy Property Manager Dennis Theodorou Property Manager Dianah Farhat Sales Accounts Eden Elmowy Licensed Real Estate Agent Faye Miao Financial Controller Helena Apostolatos Property Manager James Papachristou Property Manager Jason Malouf Licensed Real Estate Agent Jeremy Elmowy Licensed Real Estate Agent Joan Gannon Property Management Administration Joanne McNamara Receptionist Karrisa Lisha Property Manager Katrina Vassiliadis Receptionist Kaye Lui Property Management Accounts Koxan Oey Leasing Consultant Matt Skene Property Manager Michael Guirguis Property Manager Mona Piankerd Property Management Support Natasha Arifin Marketing Manager Orazio Palazzolo Property Manager Sienna Elmowy Reception/Administration Sophie Sutinen Sales Coordinator Alex Santelli 02 9101 8008 0403 104 146 Domenic Severino Leasing Executive Eddie Petro Special Projects & Capital Markets John Skufris Licensed Real Estate Agent Mary Dudley Commercial Administrator Tina Dimarchos Commercial Administrator
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