An optical illusion they call a “property bubble” http://ow.ly/AQj2u
With RBA’s help, debt has become King. http://ow.ly/ALofx
Latest Balmoral Beach sale – sold to expat who never set foot on the property – vendor testimonial http://ow.ly/yqhRr
Some interesting numbers on house sales in Mosman…
Without a doubt one of the overwhelming characteristics of the Mosman market was the insatiable desire of residents to trade in the market. Today, it is instinctively clear that this desire has been lost as a result of the Global Financial Crisis (GFC) as residents re-calibrate their lifestyles and requirements. For example, in 2012 out of 52 weeks there were on 33 occasions more than 100 houses on the market. In 2013 Mosman has only broken the 100 mark on just four occasions which explains why so few houses are on the market. We did a comparison for house sales in Mosman for 2013, 2012 and 2007 (the golden market before the GFC hit.)
Bear in mind before the GFC Mosman used to trade approximately 10 per cent of the approximate 4,800 houses – 480.
Mosman House Sales 1 January 2013 to 7 November 2013
Total – 267
Average Price – $2,825,942
Private Treaty – 207
Public Auction – 60
Total Value Sold – $714,324,833
Adjusted Clearance Rate – 44 per cent
Mosman House Sales 1 January 2012 to 31 December 2012
Total – 283
Average Price – $2,852,759
Private Treaty – 250
Public Auction – 33
Total Value Sold – $788,975,000
Adjusted Clearance Rate – 22 per cent
Based on what is on the market today it would be fair to assume that 2013 Mosman house sales will go very close to reaching $1 billion as well as breaking the 300 barrier, so all in all the Mosman market is performing much better than many give credit.
Mosman House Sales 1 January 2007 to 31 December 2007
Total – 374
Average Price – $3,035,363
Private Treaty – 324
Public Auction – 50
Total Value Sold – $1,135,225,667
Adjusted clearance rate – 38 per cent
The National Australia Bank Business Survey showed business confidence rose eight index points to 12 in September – its highest level since March 2010! The jobless rate has also fallen from 5.8 percent to 5.6. Looking forward to a good year in 2014!
After three and a half years back in the R/E biz, I have just been awarded the number 9 Salesperson in the National R&W Network.. and our office was number 1 in the country. Yeehah! It has been hard work but very enjoyable.