Over $50 Million worth of property transactions in 4 weeks
It was a busy November for PK Property and we are still going with around about another 10 transactions before xmas. And talking about xmas I just wanted to thank all of our old clients that have come back this year, and all of our new clients that we have purchased for in 2013. I would also like to wish everyone a very merry xmas with their families and a sensational upcoming 2014.
Recent PK Property Purchases
20 Elfrida Street, Mosman $9,150,000
2 Bayview Street, Lavender Bay $4,250,000
65 Mary Street, Longueville confidential over $3.5M
37 Burns Road, Wahroonga $6Mil
223 Sutherland Street, Paddington $5,600,000
27 Cleveland Street, Wahroonga $3,500,000
12 Milner Street, Mosman $2,225,000
12A Milner Street, Mosman $2,500,000
24 Harbour Street, Mosman $2,665,000
2/26 Hilltop Street, Fairlight $1,550,000
24 Beattie Street, Balgowlah $3,225,000
9 Barcom Avenue, Darlinghurst $1,725,000
25A Park Avenue, Mosman $1,790,000
34 A Jennings Street, Alexandria $1,210,000
67 Hawthorne Avenue, Chatswood $1,345,000
337 Burns Bay Road, Lane Cove $1,050,00
30/1215 Pacific Highway,Turramurra $910,000
23 Ellalong Road, Turramurra $990,000
4/28 Edward Street, Bondi Beach $885,000
9 Canea Crescent, Allambie Heights $995,000
9 Carissa Avenue, St Ives $1,190,000
10/2 Duke Street, Strathfield $675,000
24 Horton Street, Marrickville $700,000
26 Horton Street, Marrickville $1,200,000
33 Lady Penrhyn Drive, Beacon Hill $1,400,000
6/6 Westleigh Street, Neutral Bay $740,000
9/ 15-17 Station Street, West Ryde $460,000
5/4 Cross Street, Bronte $900,000
216/33 Lexington Drive, Bella Vista $455,000
PK's Property Market Predictions
Well with Sydney's median house price now $699,000, 80% auction clearance rates and an increase in property prices of close to 14% over 2013 you would think you've seen it all in 2013.
Well unfortunately not. The Sydney property market operates in so many different submarkets for example properties over $2.8 million on the Upper North Shore have not really moved much in price at all, where houses on the Lower North Shore up to $3 million have moved 10% this year, but houses over $4 million have been fairly flat. Units on the Lower North Shore up to $1 million have moved 10% this year, where over $1.5 million are still fairly flat.
When the media reports that property prices have moved 14% they need to be a lot more accurate in their reporting, and break it up into price ranges and products, houses & units etc because that overall figure does not give a clear story of what's really going on in the broader market.
PK's Hot Tip
Don't be fooled into the media telling you that prices have escalated and you will be buying at the peak if you buy now. The fact of the matter is, what you might be wanting to purchase may just be starting to rise now, and you decide not to buy and miss out on the capital growth due to the wrong advice.
The Sydney property market works in troughs and peaks throughout the different product ranges so to be sure to give us a call to get some honest independent advice on where the cycle is for your potential purchase right now.
If you would like to receive PK's Sydney Property Market updates, hot investment tips and much more please subscribe here.Or call one of our buyers agents today on (+61) 2 9960-1066 or email us so we can help you find your next dream home or investment property for the lowest possible purchase price.
Also don't forget PK's 2 min video tutorials on youtube showing you hot tips and negotiating tricks of the trade.