Maroubra Property Report S P R I N G 2 0 2 2 Courtesy of Ray White Maroubra | South Coogee
WHAT’S HAPPENING IN OUR MARKET? If the last two years have taught us anything, it’s that there really is no particular season, month or time of year that’s better for selling. That said, there’s still a long held belief that it’s hard to beat selling in spring! Our winter selling months were interesting. Interest rates and auction clearance rates both went in the opposite direction to what most would like, but there was also a lot to celebrate this winter. International travel was well and truly back on the cards and many of us chose to take advantage of the travel bug and escape the winter chill. This has given us a post-vacation flurry of activity in the real estate sector in the past few weeks, and we’re seeing an increase in new listings coming to market. It seems selling in spring is back on the agenda for many homeowners. As our market reaches a more balanced state, we’re seeing days on market growing - the number of days it takes from when it’s launched on the market until the point it’s unconditionally sold. The impact of this can mean that buyers start to see the listings that stay on the market for longer as ‘stale’, or become suspicious as to why it hasn’t sold yet. Our auction properties are selling on average 11 days sooner than private treaty, with an average of 28 days to sell an auction property and 39 days to sell by private treaty. We’re also still seeing a premium of 11% being achieved on our auction properties against the highest offer presented before auction day.
RECENT RESIDENTIAL SALES SOLD 1/297 Malabar Road, Maroubra Apartment SOLD 2/8 French Street, Kogarah Apartment SOLD 6B/27-31 William Street, Botany Townhouse SOLD 12/283 Gardeners Road, Eastlakes Apartment SOLD 701/6-10 Rothschild Avenue, Rosebery Apartment SOLD 38/27 Dover Road, Botany Apartment SOLD 95 Gale Road, Maroubra House SOLD 4/56 Houston Road, Kingsford Apartment
Compared to five years ago, the median sales price for houses in Maroubra has increased 16.5% which equates to a compound annual growth rate of 3.1%. FAST FACTS MAROUBRA 1. 5. 3. HOUSES AVERAGE DAYS ON MARKET 32 MAROUBRA HOUSES UNITS MEDIAN $2,050,000 MEDIAN $900,000 HIGHEST $4,400,000 HIGHEST $1,425,000 LOWEST $954,000 LOWEST $415,000 4. LEASE MEDIAN HOUSE RENT (3 BED) $950 MEDIAN UNIT RENT (2 BED) $658 Source: Core Logic RPData 14 July - 14 October 2022 2. SALES $2.0M 200 $2.5M 300 $3.0M 400 $1.5M 100 2018 2019 2020 2021 2022 MEDIAN HOUSE SALE PRICE NUMBER HOUSES SOLD 59 HOUSES SOLD LAST 3 MONTHS UNITS SOLD LAST 3 MONTHS 57 68% HOUSE AUCTION CLEARANCE RATE
RECENT COMMERCIAL ACTIVITY LEASED Level 1, 724 Botany Road, Mascot Offices LEASED Shop 1, 924 Anzac Parade, Maroubra Retail SOLD 58-60 Kings Cross Road, Rushcutters Bay Retail SOLD 28-32 Mallett Street, Camperdown Showroom SOLD 520 King Street, Newtown Retail LEASED 2/11 Hunter Street, Waterloo Offices SOLD Suite 802, 250 Pitt Street, Sydney Offices LEASED 1/219-223 Castlereagh Street, Sydney Offices
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 RAYWHITE MAROUBRA SOUTH COOGEE RAYWHITE 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 FayeMiao Financial Controller Helena Apostolatos Property Manager James Papachristou Property Manager Jason Malouf Licensed Real Estate Agent Joan Gannon Property Management Administration JoanneMcNamara 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 TimPsaltis Property Manager Alex Santelli 02 9101 8008 0403 104 146 Domenic Severino Leasing Executive Eddie Petro Special Projects & Capital Markets John Skufris Licensed Real Estate Agent Kerrie Pelayias Commercial Sales & Leasing Mary Dudley Commercial Administrator Tamara Shakespeare Operations Manager Tina Dimarchos Commercial Administrator
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