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Investor Report October 2014

By Ian Campbell

Christmas just around the corner!

It’s not too late to sell before Christmas but it’s certainly time to get your skates on if you wish to take advantage of the existing high buyer demand. Our office has an auctions scheduled for 27th November as well as 4th and 9th December. Strong market conditions, continuing low interest rates and  desire by many to have matters sorted before the Christmas deadline make it a great time to sell. Speak to one of our helpful sales team members on 9331 9600.

Strong sales results for our team:

Our office is pleased to report some recent outstanding Spring sales in the table below. They include a two bedroom apartment with parking in the classic Harry Seidler building, “Ithaca Gardens”, an enormous two bedroom apartment in the exclusive “Franconia” building, a studio apartment in popular Macleay Street and the big sale of the Country Women’s Association (CWA) which our office sold as part of a Ray White team in conjunction with CBRE.  The details are:

CWA 11-13 Greenknowe Ave Offices + 51 rooms       $18.4 million       ( Sold by Tender)

602/12 Ithaca Road, 2 Beds, 1 Car, 1 Bath                   $1,262 000         ($37,000 over reserve)

3/123-125 Macleay St, 2BR, 1 Bath                               $732,000            ($72,000 over reserve)

44/4 Macleay Street studio 1 Bath                                $456,000            ($46,000 over reserve)

23/105 Victoria St, 1 Bed, 1 Bath                                 $720,000             ($100,000 over reserve)

Market still upbeat:

Buyers are still out in force with the bumper weekend of October 18 and 19 recording an impressive 81.1% auction clearance rate. More than 700 Sydney properties went under the hammer over the October 18 weekend with the clearance rate edging higher than the previous weekend where it was 79.3%. News that the NSW economy is now the strongest amongst the Australia states is certainly welcome. A recent Sydney Morning Herald report said NSW had taken over as leader from minerals-rich Western Australia which had held the number one spot for the past three years. A quarterly review by, CommSec found the key factor in NSW’s economic resurgence was a big jump in the number of new housing commencements.

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