Merry Christmas letter and property predictions for 2015
First of all I would like to thank my staff for their incredible loyalty, commitment and efforts this year. Second of all thank you to all of our clients for their loyalty and support, have a blessed Christmas and a safe new year.
Here are some purchases the PK Property team made in November and December 2014. Please note some purchases cannot be mentioned due to confidentiality reasons.
Recent purchases include;
Exchanged 22 Harrisons Lane Glenorie $1,425,000
Exchanged 11A Tycannah Road Northbridge $5,200,000
Exchanged 14 Thornton Street Fairlight $1,210,000
Exchanged 5 Marks Street Naremburn $1,350,000
Exchanged 23 Allenby Street Clontarf $2,800,000
Exchanged 7/10-12 Bannerman Street Cremorne $745,000
Exchanged 5 Garnet Street Killara $5,400,000
Exchanged 39 Reserve Street Currans Hill $450,000
Exchanged 15 Darnley Street Gordon $2,450,000
Exchanged 12 Rowena Rd Narraweena $980,000
Exchanged 32 Caroline street East Gosford $1,350,000
Exchanged 9 Gordon Street Mosman $2,075,000
Exchanged 30/1219 Pittwater Road Collaroy $800,000
Exchanged 14 Harbourview Street Clontarf $2,525,000
Exchanged 146 Riverview Street Riverview $1,600,000
Exchanged 35 Braeside Street Wahroonga over $1,580,000
Exchanged 96 William Street Manly $1,325,000
Exchanged 2/187 Raglan Street Mosman $1,740,000
Exchanged 3 Harry Street East Lakes $1,150,000
Exchanged 76 Kulgoa Road Pymble $1,178,000
Exchanged 1 Thorn Street Ryde $1,977,000
Exchanged 24/26-30 Ocean Street Bondi $1,185,000
Been a good 5 days at PK Property nearly 14 Million dollars worth of property exchanged.
Exchanged b902/24-26 Point Street Pyrmont $3,000,000
Exchanged 24 Pindari Street Mosman $2,800,000
Exchanged 16 Neewora Road Northbridge $2,275,000
Exchanged 2 Yirgella Street Killara $1,700,000
Exchanged 31 Atunga Road Newport $1,823,000
Exchanged 17 Riley Street North Sydney $1,855,000
PK's Where to in 2015
So let's bring out the crystal Ball and start to predict where the Sydney property market might head in 2015.
First of all the hype that has been here for the last 2 years has now started to subside due to an insurgence of new stock hitting the market. This has not happened in all segments of the market, but the majority of pipelines are now a lot more full than they were in the first 8 months of this year.
I believe that the market will just chug along now due to low interest rates, and still a lack of good quality stock not available in the marketplace.
I would like to just touch on my last statement about quality stock. Buyers have now started to dominate segments of the market due to more stock coming on, but the real problem in this market is good quality stock.
The good quality properties coming to market next year will have plenty of competition and fetch high prices. The average stock will sell at fair market value.
I believe that the Sydney property market in general will have gains of 5 to 7% percent in 2015 and the really hot stock will have 10% percent gains.
This property market still has some good growth moving forward, especially with the Australian dollar moving down fast, which will attract expatriates and foreign investors in droves.
So overall I believe the Sydney property market will be steady as she goes next year and in general will favour buyers rather than sellers.
PK's Property Market Predictions
The housing market on the Lower North Shore and Eastern Suburbs in the $2.5 to $4.5 Million range will be very hot next year due to a real lack of stock. If you think it's going to come on in quantity and quality in this price range think again, as agents are reporting to us that nothing is in the pipeline.
Vendors are still unrealistic and greedy for the high prices of 2013 and 2014. Some vendors will withdraw their properties due to their expectations not getting met, which will in turn tighten up stock once again.
PK's Hot Tip
If you really want to open yourself up to the whole property market register with us today and see all the silent sales we have to offer that are not available in the local papers or on the internet. Once again a merry xmas to all.
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Also don't forget PK's 2 min video tutorials on youtube showing you hot tips and negotiating tricks of the trade.