Maroubra Property Report SPRING 2024 Courtesy of Ray White Maroubra | South Coogee
WHAT’S HAPPENING IN OUR MARKET? The pace of value growth nationally is showing clear signs of slowing with the quarterly increase in home values (1.3%) now less than half the rate of growth in the same threemonth period of 2023 (2.7%). In Sydney, property prices increased 0.2% over the last month and are 4.7% higher than they were 12 months ago. The outlook for prices will start to become more interesting as we head into spring. While we don’t sell every home in Australia, we do have close to a 15% market share which gives us a good insight into what is happening more broadly. There are a lot of properties coming to market, the highest level recorded within Ray White for this time of year, based on listing authorities (the point at which a seller signs with a Ray White agent but before the property is advertised). The much-anticipated first weekend of spring for 2024 delivered strong auction clearance rates, high bidder numbers, and increased property volume across the country. While a lot of stock coming to market might suggest price growth softening, we have also seen a pick up in first home buyer, owner occupier and investor lending (as measured by the Australian Bureau of Statistics). Loan Market, the largest mortgage broker community in Australia, saw a 23% spike in pre-approvals for new loans in August. While interest rates remain high, it may be the growing potential for a cut is driving activity amongst buyers as we head into spring. 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 211 Gale Road, Maroubra House SOLD 409/747 Anzac Parade, Maroubra Apartment SOLD 7/2 Ford Road, Maroubra Apartment SOLD 29/301-303 Anzac Parade, Kingsford Apartment SOLD 14-16 French Street, Maroubra House SOLD 61 Robey Street, Mascot House SOLD 47 Daunt Avenue, Matraville Duplex SOLD 2/5 Unsted Crescent, Hillsdale Apartment RECENT RESIDENTIAL SALES
Compared to five years ago, the median sales price for houses in Maroubra has increased 62.6% which equates to a compound annual growth rate of 10.2%. FAST FACTS MAROUBRA 1. 5. 3. HOUSES AVERAGE DAYS ON MARKET 25 MAROUBRA HOUSES UNITS MEDIAN $2,162,500 MEDIAN $974,000 HIGHEST $5,305,000 HIGHEST $4,100,000 LOWEST $1,221,000 LOWEST $350,000 4. LEASE MEDIAN HOUSE RENT (3 BED) $1,200 MEDIAN UNIT RENT (2 BED) $830 Source: CoreLogic RP Data 12 June - 12 September 2024 2. SALES $2.0M 100 $2.5M 200 $3.0M 300 $1.5M 0 2020 2021 2022 2023 2024 MEDIAN HOUSE SALE PRICE NUMBER HOUSES SOLD 24 HOUSES SOLD LAST 3 MONTHS UNITS SOLD LAST 3 MONTHS 44 75% HOUSE AUCTION CLEARANCE RATE
LEASED 2/70 Castlereagh Street, Sydney Office LEASED Ground Floor, 603 Botany Rd, Rosebery Retail SOLD Shop 1 & 2/506 Miller Street, Cammeray Retail SOLD 45-49 Marrickville Road, Marrickville Showroom/Bulky Goods SOLD Shop 2/2 Kensington Street, Kogarah Retail LEASED Shop 1/620 Botany Road,Alexandria Retail SOLD Suite 26/100 New South Head Rd, Edgecliff Office LEASED 23a Tenterden Road, Botany 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 & COMMERCIAL 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 RWC 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 Amber Halil New Business Development Amy Vella Commercial Sales & Leasing Amelia Curran Reception / Administration Dean Cassidy Property Manager Dennis Theodorou Property Manager Dianah Farhat Sales Accounts Domenic Severino Commercial Leasing Executive Eden Elmowy Licensed Real Estate Agent Faye Miao Financial Controller Helena Apostolatos Property Manager James Papachristou Property Manager Jason Malouf Licensed Real Estate Agent Joan Gannon Property Management Administration Joanne McNamara Receptionist John Skufris Licensed Real Estate Agent 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 Sophie Sutinen Sales Coordinator Tina Dimarchos Commercial Administrator Alex Santelli 02 9101 8008 0403 104 146
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