Tomaree Peninsula Property Market Report

Property market report

Hello and welcome to our update on the Tomaree Peninsula property marketThe last few months have seen a continually improving property market.

Properties that are reasonably priced are selling very quickly and buyers now seem to be looking for a more diverse range of properties leading to some great prices being paid.

Vacant land and units have been selling very well which is something we haven’t been able to say for quite some time. Family homes are heavily sought after and we are constantly seeking new listings of these in the $400,000 to $700,000 range.

The market for waterfront properties and those with wa-ter views seems to be well and truly on the mend with a number of sales and some selling within days of hitting the market.

The recent sales statistics show a spread of sales from just $97,000 for a small commercial shop at Soldiers Point through to the $4,290,000 sale of the ‘Peninsula Motor Inn’ at Nelson Bay. Every postcode recorded a sale over $1,000,000 which I can’t remember happening for a num-ber of years.

The recorded sales on RPDATA are actually higher than what’s shown opposite, we’ve deleted a number of related sales (normally due to inheritance or family settlements) from the statistics, over 20 in total. It was also interesting to note that the number of commercial sales was the high-est it’s been in ages and all of them were to owner occupier businesses and not one was in the industrial developments at Taylors Beach.

Whilst the overall number of properties currently offered for sale has risen over our last report I believe some of the properties are being offered at above market prices so will either need a price adjustment or will sit around for some time. Some sellers feel that putting a high price on a

property is the way to go but history shows that the truly highest possible price is obtained in the first six weeks of marketing. Hence why auctions work so well. Interestingly enough, throughout the quarter measured, auctions pro-duced an almost 100% clearance rate.

With continuing low interest rates and an increasing level of confidence in the economy we feel that the market will continue along its current trend for the foreseeable future. The future of price growth will be totally dependent on the supply of suitable properties which has been a struggle in recent times so we may well see some gradual price growth over the next year.

In you’re considering selling or would simply like to know what your property is worth on today’s market we’d be delighted to provide you with a obligation and cost free appraisal based on recent comparable sales. Feel free to contact our sales team anytime on 02 4980 4400.

Regards

Daniel O’Meara

Great tips for selling your home• Pack up your collectibles – both to protect

them and to give the room a more spacious feel. Leave out just enough accessories to give the house a personal touch.

• You can use products like carpet deodoris-ers, air fresheners and room deodorises, but the best strategy is to remove the source of the aroma rather than cover it up.

• The use of a brightly coloured pillow on a chair or a throw blanket on a sofa can add dimension to an otherwise neutral room. Use accent pieces for colour.

• Clean and polish ceiling fans. Take down and clean exhaust fan covers, these are dust magnets.

• Check all corners for peeling paint, chipped corners and loose wallpaper.

• Check to see that all doors and windows are in good working order. Give special atten-tion to your house’s exterior doors and front entry. Clean and paint doors if necessary. Remember that you have only one chance at that first impression and that is likely to be at your front door.

For further tips, call us for a copy of our guide “101 Tips - How to present your home for sale and get more money”

101 Salamander Way, Salamander Bay

4 Bed, 2 Bath, 2 Car $915,000

4/54 Salamander Way, Salamander Bay

3 Bed, 2 Bath, 2 Car $350,000

2/40 Ocean Avenue, Anna Bay

3 Bed, 1 Bath, 2 Car $495,000

1/1 Kurrawa Close, Nelson Bay

3 Bed, 1 Bath, 2 Car $387,500

TOMAREE PENINSULA Market Data

2315 2316 2317

How many properties sold in the quarter? 129 28 53

What was the highest price paid in the quarter? $4,290,000 $1,125,000 $1,735,000

What was the average price paid in the quarter? $463,333 $496,018 $457,561

What was the lowest price paid in the quarter? $143,500 $275,000 $97,000

How many properties are on the market now? 393 103 125

PROPERTY ADDRESS STYLE SUMMARY AREA SALE DATE METHOD PRICE

12/262 Sandy Point Road, Salamander Bay Townhouse 3 Bed, 2 Bath, 2 Car 233m 17/08/2013 Auction $320,000

6 Admiral Close, Salamander Bay House 4 Bed, 3 Bath, 2 Car 767m 29/08/2013 Private Treaty $475,000

29 Kestrel Avenue, Salamander Bay House 4 Bed, 2 Bath, 2 Car 756m 02/09/2013 Private Treaty $527,000

159 Soldiers Point Road, Salamander Bay House 5 Bed, 3 Bath, 2 Car 664m 18/07/2013 Private Treaty $1,735,000

6/39 Soldiers Point Road, Soldiers Point Unit 2 Bed, 1 Bath, 1 Car N/A 29/07/2013 Post Auction $245,000

1/49 Soldiers Point Road, Soldiers Point Unit 3 Bed, 3 Bath, 4 Car N/A 13/09/2013 Private Treaty $1,300,000

7B Biscay Close, Anna Bay Duplex 3 Bed, 2 Bath, 2 Car 336m 01/08/2013 Private Treaty $340,000

37A Ocean Avenue, Anna Bay Duplex 3 Bed, 2 Bath, 2 Car 321m 20/08/2013 Private Treaty $830,000

23 Harbourview, Boat Harbour House 4 Bed, 3 Bath, 2 Car 411m 16/08/2013 Private Treaty $653,000

504 Marsh Road, Bobs Farm Rural 3 Bed, 2 Bath, 3 Car 16.02h 05/07/2013 Private Treaty $540,000

1/4 The Bridge, Corlette Duplex 3 Bed, 2 Bath, 2 Car N/A 07/08/2013 Private Treaty $340,000

72 The Peninsula, Corlette House 4 Bed, 2 Bath, 2 Car 649m 22/07/2013 Private Treaty $525,000

11 Mulubinda Parade, Corlette House 4 Bed, 2 Bath, 2 Car 751m 17/07/2013 Private Treaty $870,000

19 Boulder Bay Road, Fingal Bay House 4 Bed, 2 Bath, 2 Car 613m 27/08/2013 Private Treaty $505,000

2 Hardy Street, Nelson Bay House 2 Bed, 1 Bath, 1 Car 398m 01/07/2013 Private Treaty $280,000

8 Nelson Street, Nelson Bay House 4 Bed, 2 Bath, 2 Car 973m 27/09/2013 Private Treaty $380,000

20 Trafalgar Street, Nelson Bay House 5 Bed, 2 Bath, 1 Car 778m 26/08/2013 Private Treaty $475,000

18 Iluka Close, Fingal Bay House 4 Bed, 2 Bath, 2 Car 697m 01/07/2013 Private Treaty $663,500

2/9 Laman Street, Nelson Bay Unit 3 Bed, 2 Bath, 2 Car N/A 11/07/13 Private Treaty $575,000

22 Gloucester Street, Nelson Bay House 5 Bed, 2 Bath, 1 Car 449m 23/09/2013 Private Treaty $875,000

121 Navala Avenue, Nelson Bay House 3 Bed, 2 Bath, 2 Car 2,185m 12/07/2013 Private Treaty $970,000

64 Tomaree Road, Shoal Bay House 2 Bed, 1 Bath 696m 31/07/2013 Private Treaty $315,000

110 Horace Street, Shoal Bay House 4 Bed, 2 Bath, 2 Car 575m 11/07/2013 Private Treaty $490,000

7 Ocean Beach Road, Shoal Bay House 4 Bed, 2 Bath, 2 Car 651m 05/07/2013 Private Treaty $590,000

12 Leonard Avenue, Shoal Bay House 3 Bed, 2 Bath, 1 Car 538m 01/08/2013 Private Treaty $395,000

What our clients are saying...Many thanks from us both for the never ending effort that you put into this property sale

Bob & Kerry | Corlette

We were very pleased with the way you conducted our sale, I liked you and your attitude from our very first meeting, we have had previous experiences with selling property which were shall we say, not so pleasant, but in your case we found you to be very honest and direct, you did everything you said you would, kept us up to date with proceedings and I think went beyond your scope of works to ensure we achieved the best result possible.

Nicholas | Anna Bay