QUARTERLY MARKET UPDATE Courtesy of Ray White Macdonald Partners
Source: CoreLogic RP Data 1 October - 31 December 2023. Please note, only publicly disclosed sale prices are included in these figures. 10 20 30 40 0 POINT FREDERICK 14 5 NUMBER OF SALES HOUSE UNITS FAST FACTS GOSFORD, WEST GOSFORD, EAST GOSFORD, POINT FREDERICK GOSFORD 0 39 HOUSES UNITS WEST GOSFORD 5 9 EAST GOSFORD 13 30 HIGHEST SALE PRICE HOUSES UNITS GOSFORD WEST GOSFORD EAST GOSFORD POINT FREDERICK n/a $850,000 $630,000 $1,600,000 $1,500,000 $1,410,000 $3,500,000 $905,010 LOWEST SALE PRICE GOSFORD WEST GOSFORD EAST GOSFORD POINT FREDERICK n/a $720,000 $345,000 $670,000 $300,000 $700,000 $365,000 $395,000 MEDIAN SALE PRICE GOSFORD WEST GOSFORD EAST GOSFORD POINT FREDERICK n/a $720,000 $515,000 $957,500 $779,500 $1,220,000 $523,000 $565,000 HOUSES UNITS HOUSES UNITS
The year 2023 defied expectations in the Australian property market. Like a rollercoaster climbing steadily against initial fears, the year began with subdued activity, grappling with rising interest rates and limited inventory. But, just as pessimism threatened to take hold, the market surprised, with a vibrant late-year surge. November recorded one of the strongest volume and activity figures ever, proving demand remained robust. This unexpected resilience sets the stage for 2024, a year brimming with anticipation. What are our property market predictions for 2024? Interest rates will undoubtedly remain a crucial factor. While Australian cuts may lag behind those in the US, their mere prospect will act as a beacon of hope, injecting confidence into the market. We anticipate 2024 to be a bustling year, with both buyers and sellers finally stepping into the ring. A healthy balance is expected, with a steady stream of properties meeting eager buyers, creating a stable equilibrium. Talk of rate cuts, even if distant, will only strengthen this bullish sentiment throughout the year. Buyers, when to take the plunge? Our crystal ball whispers that pouncing early in 2024 could spell success for buyers. With interest rate cuts still a whisper on the horizon, waiting might expose you to a surge of competing buyers later in the year. So, if your finances allow, seizing the early bird chance could land you your dream home. Sellers, when is it time to strike? For sellers, the optimal timing might seem counterintuitive. While you might be tempted to wait for the anticipated influx of buyers later in the year, consider this: who are these hesitant buyers? They're likely financially cautious, relying heavily on mortgage loans impacted by current rates. The buyers currently active, meanwhile, are typically less rate-sensitive, boasting strong equity or cash reserves. They are fantastic buyers, ready to snap up the right property. Therefore, early 2024 presents a golden opportunity for sellers. You'll face less competition from fellow listings and attract buyers less constrained by financing – a win-win scenario. A LOOK BACK AT 2023 AND OUR MARKET PREDIC
As we peer into 2024, the property market hums with excitement. Buyers yearn for early action, while sellers see an opportunity to capitalise on a market brimming with qualified buyers. While uncertainties linger, the overall forecast is positive. So, buckle up, for 2024 promises to be a thrilling ride on the real estate rollercoaster! Andrew Macdonald Principal, Ray White Macdonald Partners - Point Clare TIONS FOR 2024
RECENT SALES BY RAY WHITE MACDONALD PARTNERS SOLD $630,000 SOLD $515,000 SOLD $460,000 SOLD $538,000 SOLD $790,000 SOLD $780,000 2 2 3 2 2 1 2 1 1 3 2 2 2 1 2 1 1 2 13/13-15 Moore Street, West Gosford 17/29 Central Coast Highway, West Gosford 241/80 John Whiteway Drive, Gosford 7/16 Wells Street, East Gosford 5/19 Melbourne Street, East Gosford 7 North Crescent, North Gosford
A great marketing campaign covers off on reach (how far the product is going) and frequency (how often a customer is reminded about that product). This coupled with presentation equates to a comprehensive approach to securing the most customers and creating a competitive environment which we all know equals premium price. Staging a property can be the difference between whether or not a customer swipes left or right. When most vetting is done via online portals, if your property isn't eye-catching, it may not make the cut when a busy house hunter is choosing where to spend their time on Saturday morning. Staging has such a huge impact on buyer behaviour. A well constructed styling package can make an old home look new, make small spaces appear bigger and are essential whenever there is an open-plan living area. No property is perfect, but they all have something you fell in love with. From a large window with spectacular views to a beautiful kitchen or cosy reading nook. A stylist can arrange rooms so that attention is drawn to those best features so that potential buyers see the property in its best light every time. Once styled (including the all important decluttering and de-personalising), the overall effect is that the property looks ready to move into. A staged home hints to a buyer that they could be living in it that afternoon. This subtle psychological cue provides encouragement to interested purchasers to take the next step. As the market adjusts, sellers need to invest more than during the recent boom to create the same competitive environment linked with premium sale prices. THE BENEFITS OF STAGING “Statistically, staged homes sell faster and for a higher price than unstaged homes.”
Contact us to receive your free personalised report of your property today Are you curious to know the value of your home in today’s market? Understanding how much your home is worth can help you make smarter financial decisions by knowing your net worth. We can create a free personalised report tailored for your property that includes the following: • An estimate of the current market value of your home • Recent sales of comparable properties and listing activity in your area • Real-time market trends and insights to help you make educated decisions. Lachlan Macdonald Property Advisor | Estate Agent | Auctioneer raywhitemacdonaldpartners.com.au Sold Median Price Trend Oct - Dec 20 Jan - Mar 21 Apr - Jun 21 Jul - Sep 21 Oct - Dec 21 Jan - Mar 22 Apr - Jun 22 Jul - Sep 22 Oct - Dec 22 Jan - Mar 23 Apr - Jun 23 Jul - Sep 23 $400k $500k $600k $700k $800k $900k $1.0M $1.1M $1.2M $1.3M Houses Units We hope you found this market update helpful. If you’d like any further information on the market please don’t hesitate to get in touch. Lachlan Macdonald 0409 032 938 lachlan.macdonald@raywhite.com Recent Market Sales in East Gosford 10 9 8 7 6 5 4 3 2 1 Map data ©2024 Google No. Address Features Price 1 2/53 Caroline Street, East … 2 Beds, 1 Bath, 1 Car $701k 2 3/53 Brougham Street, East… 3 Beds, 2 Baths, 2 C… $800k 3 33 Henry Parry Drive, East … 3 Beds, 3 Baths, 1 Car $300k 4 1/17 Frederick Street, East … 2 Beds, 1 Bath, 1 Car $575k 5 44 White Street, East Gosf… 3 Beds, 1 Bath $775k 6 2/4 Lushington Street, East … 1 Bed, 1 Bath, 1 Car $405k 7 1/42 Althorp Street, East G… 3 Beds, 2 Baths, 1 Car $715k 8 35 White Street, East Gosf… 3 Beds, 1 Bath, 1 Car $780k 9 2 A/46 Frederick Street, Ea… 2 Beds, 2 Baths, 1 Car $715k 10 3/35 Brougham Street, East… 2 Beds, 1 Bath, 1 Car $255k Ray White Macdonald Partners 47 Brisbane Water Drive | Point Clare, NSW 2250 (02) 4324 6122 raywhitemacdonaldpartners.com.au E lachlan.macdonald@raywhite.com M 0409 032 938 T 02 4324 6122 Market Snapshot East Gosford 2024 Provided by Lachlan Macdonald, Ray White Macdonald Partners Total Sales by Quarter 2024/23 2023/22 2022/21 Jan - Mar — 20 21 Apr - Jun 31 28 45 Jul - Sep 36 25 33 Oct - Dec — 29 29 Median House Sale Price $900,000 -1.1% change vs. last year Median Unit Sale Price $698,750 -7.8% change vs. last year Sales By Price Range (Oct 2022 – Sep 2023) $200 - 400k $400 - 600k $600 - 800k $800k - 1.0M $1.0 - 1.2M $1.2 - 1.4M $1.4 - 4.1M 0 5 10 15 20 25 30 35 40 Houses Units Data disclaimer: raywhite.com/data-disclaimers v0.5.1 | 2024-01-19T00:12:32.139Z SAMPLE HOW MUCH IS MY PROPERTY WORTH? SAMPLE
Andrew Macdonald 0415 433 957 andrew.macdonald @raywhite.com Lachlan Macdonald 0409 032 938 lachlan.macdonald @raywhite.com RAY WHITE MACDONALD PARTNERS Family owned & serving the Central Coast for over 45 years raywhitemacdonaldpartners.com.au YOUR LOCAL AREA EXPERTS Exceptional support Lachlan’s extensive experience and local knowledge of the area was invaluable when selling our property. Communication was outstanding, and I was kept informed every step of the way. Lachlan’s guidance was exceptional, making what was an unfamiliar process much more comfortable. Very professional and personable, which made selling a positive experience. NEIL G. Great experience Andrew's vast knowledge of the market and local area allowed me to get the best price for my property. His outstanding professionalism and communication skills guided me through a process I was not familiar with. Andrew made the experience of selling property easy. I can't recommend his services highly enough. ANNA G.
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