Big sale – 27 Cherry St, Warrawee.
There is no doubt the COVID-19 pandemic has hit Australia hard, and the property market has not been untouched.
But one upper north shore agent has defied the odds, selling 18 properties in July for a combined total of $51.751 million.
Leading the sales was 27 Cherry St, Warrawee, which sold in just seven days for $5.35 million.
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David Walker, director of Way White Upper North Shore, said the key to success was pricing properties realistically to attract competition and urgency.
“We had 33 individual inspections during two open homes and the buyer was a young family who have been renting in the area while waiting for the right property to purchase,” he said.
“The appeal of this home was its north orientation on the block, and the quality of the full brick, custom Felton Constructions build.”
Mr Walker said demand was outstripping supply and the lack of stock was working in the vendor’s favour.
“In an area where there’s still strong demand, buyers who are looking to upgrade or downsize are able to take advantage of historically low interest rates,” he said.
“All indications are that low stock numbers will continue, and with a shortage of properties available for buyers to choose from, I believe sellers can still achieve a great outcome for the balance of the year.
“We don’t know what’s around the corner, but we do know that right now buyers are plentiful, interest rates are low, and stock is still limited, creating high demand for particular homes.”
15 Coolabah Ave, Turramurra.
And if a seven-day sale was not impressive enough, Mr Walker ended the month on a massive high.
“Our quickest sale of the month came at 15 Coolabah Ave in Turramurra, where the newly built home, that was meant to hit the market on the weekend, sold in three hours,” he said.
“We showed one buyer through prior to our first inspection, and within three hours, we were signing contracts.
“After a 12-month build process, and the vendors spending countless hours preparing it for sale, all their hard work paid off with an incredible sale result of $4,400,000.”
$2M BRACKET A HIT
Sales on the upper north shore around the $2 million mark were flavour of the week in both auctions and private treaties.
Four of the top five auctions results were just under the mark or over it, and four of the five top private treaty results were more than $2 million.
Among the results was the $2.25 million sale of 26 Awatea Rd, St Ives Chase for $2.25 million.
26 Awatea Rd, St Ives Chase.
The 921sqm property had a guide of $2.2 million and came with its own indoor heated swimming pool, as well as a four-bedroom house with multiple living spaces.
Katheryn Purdy, of Di Jones North Shore – Wahroonga, said there had been strong interest in the home, particularly from families wanting to be in the catchment of the popular St Ives North Primary School.
She said the buyer was a local who loved the design of the home. The vendors had originally bought the property to knock it down and start again with a new home, but then decided on a full renovation.
“Anything around the $2 million mark is going like hot cakes at the moment,” Ms Purdy said. “There’s still not much stock around so that’s definitely helping sales.
“I think we’re in a bit of a bubble at the moment.”
FAMILY SHIPPING OUT
SBS director of sport Ken Shipp has set a September 5 auction date for his Greenwich family home.
Mr Shipp, his wife and their two daughters are downsizing from the four-bedroom home at 3 Valleyview Cres. They have owned the 898sqm property for 10 years.
The single-level home has multiple living zones, with the family room opening to a deck overlooking the pool and rear yard.
3 Valleyview Cres, Greenwich.
Other features include high detailed ceilings, neutral interiors, timber floors, Caesarstone kitchen, single garage and separate carport.
The property is located within walking distance of Greenwich Public School, and is also close to Greenwich village and St Leonards train station.
The street is very tightly held – there have only been two sales in the past five years, the most recent earlier this year.
The sale of 18 Valleyview Cr in March for $2.75 million also set a new price record for the street, smashing the previous one set in 2018 by $550,000.
James Bennett and Baxter van Heyst, of Belle Property Lane Cove, are marketing the property with a $3 million price guide.
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