*Exclusive* – Sydney’s prestige property report

*Exclusive* – Sydney’s prestige property report

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I love an exclusive! Hang the expense (no pun intended), as we closely examine the impact of the global financial crisis on Sydney’s top – end housing markets. Courtesy of Dyson Austen & Co Pty Ltd, a leading property valuation company, we publish its comprehensive quarterly reports from Quarter 3 – July to September 2008 to Quarter 2 – April to June 2009. These are compelling results.

This is the first time these reports have been published (in the public domain) and what an insight it offers to better understand these mysterious market machinations. Simon Feilich, director of Dyson Austen also offers his expert commentary and independent predictions relating to Sydney’s (recession proof) rich and famous. We have also engaged the master of aerial photography, Tim Mooney,to share with you, a closer insight into some of these spectacular Sydney residential homes. Another amazing statistic is that Tim Mooney photographed approximately ninety per cent of these prestige properties – a clue for real estate agents and vendors. Aerial photographs are a must!

Tim Mooney Photography

www.timmooneyphotography.com

The quarterly Dyson Austen prestige residential survey, prepared for the Real Estate Institute of NSW for the last 4 quarters, has been released today and Director, Simon Feilich, said “ it indicates a reduction in gross sales per quarter of almost 45% from its peak of September 2008.The decrease in real terms was approx $110 million from $198 million”.

Dyson Austen Top 10 Sydney Prestige Residential Survey 2008 Q3 July – September

In this period interest rates decreased from 7.25 per cent to 7 per cent.

Top 10

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1. 23 – 25 Coolong Road Vaucluse $45.000 million
2. 23 Victoria Street Watsons Bay $28.100 million
3. 108 Wolseley Road Point Piper $27.000 – $28.000 million
4. 4 Pacific Street Watsons Bay $22.500 million
5. 114 Wolseley Road Point Piper $20.550 million
6. 92 – 94 Prince Alfred Parade Newport $14.600 million
7. 9 Caledonian Road Rose Bay $10.800 million
8. 15 Thompson Street Tamarama $10.500 million
9. 12A & 12C Crescent Street Hunters Hill $9.200 million
10. 56 & 57/56 Pirrama Road Pyrmont $9.140 million

Total $197.890 million the highest ever recorded.

Dyson Austen Top 10 Sydney Prestige Residential Survey 2008 Q4 October – December

In this period interest rates decreased from 7 per cent to 4.25 per cent.
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Top 10

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1. 4 & 6 Burran Avenue Mosman $19.750 million
2. 37 Wunulla Road Point Piper $18.450 million
3. 9 Wentworth Place Point Piper $14.900 million
4. 2 Loch Maree Place Vaucluse $12.500 million
5. 20 Pacific Street Watsons Bay $12.500 million*
6. 22 Pacific Street Watsons Bay $12.500 million*
7. 7 Wharf Road Vaucluse $12.000 – $13.000 million*
8. 39 – 40 Ocean Road Palm Beach $12.000 million
9. 43 Wharf Road Birchgrove $11.500 million
10. (=) 4 Wolseley Crescent Point Piper $10.500 million
(=) 1 Arbutus Street Mosman $10.500 million

Total $137,100 million the sixth highest ever recorded. * Approximately

Tim Mooney Photography

.www.timmooneyphotography.com

Dyson Austen Top 10 Sydney Prestige Residential Survey 2009 Q1 January – March

In this period interest rates decreased from 4.25 per cent to 3.25 per cent.
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Top 10

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1. 5 Rose Bay Avenue Bellevue Hill $17.000 million
2. 25 Victoria Street Watsons Bay $16.000 million
3. 8A Ginahgulla Road Bellevue Hill $15.000 million
4. 6 Buena Vista Avenue Mosman $13.200 million
5. 29 New South Head Road Vaucluse $12.900 million
6. 71 Yarranabbe Road Darling Point $12.600 million
7. 22 Rosemount Avenue Woollahra $11.800 million
8. 53 Fitzwilliam Road Vaucluse $9.000 million
9. 1A Arbutus Street Mosman $8.500 million
10. 86B Victoria Road Bellevue Hill $7.900 million

Total $123.900 million the ninth highest ever recorded. * Approximately

Dyson Austen Top 10 Sydney Prestige Residential Survey 2009 Q2 April – June

In this period interest rates decreased from 3.25 per cent to 3.00 per cent.
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Top 10

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1. 40 Wentworth Road Vaucluse $18.000 million
2. 2 Pacific Street Watsons Bay $16.450 million
3. 1129 Barrenjoey Road Palm Beach $12.000 million
4. 16 Tivoli Avenue Rose Bay $10.500 million*
5. 20 Tivoli Avenue Rose Bay $10.500 million*
6. 15A Burran Avenue Mosman $10.250 million*
7. 22A Vaucluse Road Vaucluse $9.000 million*
8. 44 – 46 Lang Road Centennial Park $8.300 million
9. 12/12 Onslow Avenue Elizabeth Bay $8.000 – $8.300 million*
10. 17 Trelawaney Street Woollahra $7.850 million

Total $110.115 million the fifteenth highest ever recorded. *Approximately

Agent in order of how many of the sales over 12 months they were involved in –

LJ Hooker Double Bay 8
Ray White Double Bay 7
Ken Jacobs 5
McGrath 4
Raine & Horne Double Bay 3
Richardson & Wrench Mosman 2
Knight Frank 2
Laing & Simmons Double Bay 2
LJ Hooker Palm Beach 2
Cassim 2
Richardson & Wrench Double Bay 2
Bradfield & Pritchard 1
Feldi 1
Goodyer Donnelly 1
LJ Hooker Avalon 1
Place 1
Raine & Horne Mosman 1
Ray White Lower North Shore 1
Richardson & Wrench Elizabeth Bay 1
Sotheby’s 1
Ward 1

Source: Dyson Austen

www.dysonausten.com.au
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40 sales for the year in dollar value order – July 2008 to June 2009

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23-25 Coolong Road Vaucluse $45.000 Q308 McGrath / Cassim
23 Victoria Street Watsons Bay $28.100 Q308 Ken Jacobs / RW DB
108 Wolseley Road Point Piper $27.500 Q308 R&W DB
4 Pacific Street Watsons Bay $22.500 Q308 RW DB
114 Wolseley Road Point Piper $20.550 Q308 LJH DB
4 & 6 Burran Avenue Mosman $19.750 Q408 R&H Mosman
37 Wunulla Road Point Piper $18.450 Q408 LJH DB / L&S DB
40 Wentworth Road Vaucluse $18.000 Q209 RWDB / Cassim
5 Rose Bay Avenue Bellevue Hill $17.000 Q109 LJH DB
2 Pacific Street Watsons Bay $16.450 Q209 RWDB
25 Victoria Street Watsons Bay $16.000 Q109 No agent
8A Ginahgulla Road Bellevue Hill $15.000 Q109 RWDB
9 Wentworth Place Point Piper $14.900 Q408 Sotheby’s / LJH DB
92-94 Prince Alfred Parade Newport $14.600 Q308 LJH Avalon
6 Buena Vista Avenue Mosman $13.200 Q109 R&W Mosman
29 New South Head Road Vaucluse $12.900 Q109 R&H DB
71 Yarranabbe Road Darling Point $12.600 Q109 R&H DB
2 Loch Maree Place Vaucluse $12.500 Q408 LJH DB
20 Pacific Street Watsons Bay $12.500 Q408 RW DB / Ken Jacobs
22 Pacific Street Watsons Bay $12.500 Q408 Ken Kacobs
7 Wharf Road Vaucluse $12.500 Q408 R&W DB
39-40 Ocean Road Palm Beach $12.000 Q408 Knight Frank / LJH PB
1129 Barenjoey Road Palm Beach $12.000 Q209 RW DB
22 Rosemont Avenue Woollahra $11.800 Q109 McGrath
43 Wharf Road Birchgrove $11.500 Q408 No agent
9 Caledonian Road Rose Bay $10.800 Q308 RW DB
4 Wolseley Crescent Point Piper $10.500 Q408 R&H DB
1 Arbutus Street Mosman $10.500 Q408 RW LNS
16 Tivoli Avenue Rose Bay $10.500 Q209 LJH DB
20 Tivoli Avenue Rose Bay $10.500 Q209 LJH DB
15 Thompson Street Tamarama $10.500 Q308 Goodyer Donnelly
15A Burran Avnue Mosman $10.250 Q209 Ken Jacobs / R&W Mosman
12A & 12C Crescent Street Hunters Hill $9.200 Q308 Ward Partners
56 & 57/56 Pirrama Road Pyrmont $9.140 Q308 Feldi
53 Fitzwilliam Road Vaucluse $9.000 Q109 L&S DB
22A Vaucluse Road Vaucluse $9.000 Q209 Ken Jacobs
1A Arbutus Street Mosman $8.500 Q109 McGrath
44-46 Lang Road Centennial Park $8.300 Q209 Knight Frank / B&P
12/12 Onslow Avenue Elizabeth Bay $8.150 Q209 R&W EB/PP
86B Victoria Road Bellevue Hill $7.900 Q109 Place / LJH DB
17 Trelawney Street Woollahra $7.850 Q209 McGrath

Source: Dyson Austen

www.dysonausten.com.au

So let’s extrapolate this data. Dyson Austen Director Simon Feilich said “This takes us back to the June Quarter 2006 which had a lower quarterly total of approx $88 million.”

“In viewing the top 40 sales for the year, the top 5 all occurred in the 3rd quarter 2008, and as the world global financial crises got worse so too did this sector.”

“The five lowest sales all occurred in the 1st and 2nd quarters of 2009 and were as low as $7.5500 million.”

“One of the strengths in the September 2008 quarter was due to the $A dollar collapsing by approximately 17.5 %.”

“The future is hard to predict and revolves around the buoyancy of the equity market which has seen rapid increases since its lows of 2009.”

“Should there be no “w” in the economy but rather the “v” which some commentators believe is the case, continuing strength in the equity market and increased funds available in the lending markets , with unemployment not decreasing I think the worst is over.”

For those unsure of this “w” and “v” language, “w” = double dip in the economy, a recovery, then another collapse and “v” = is what we have at the moment where recovery continues in an upward trend.

It’s all about confidence – the National Australia Bank (NAB) this week released its monthly business survey’s measure of business confidence which increased 8 index points to plus – 18 points in August. The highest level in almost six years (2003).

This week’s unemployment figures identified that it has steadied although it should be noted that there still remains some degree of volatility and hopefully it has peaked at 5.7 per cent – well below the projected 8 per cent.

Carsales.com floated this week which was a great test for our financial markets. Business Spectator reported. “There would have been a lot of relieved investment bankers and promoters after Carsales.com drove smoothly onto the ASX lists. The listing, the first big initial float since the financial crisis erupted, was seen as a vital tone-setter for the pipeline of IPOs, some larger, to come.

A solid gain of about 10 per cent on the $3.50 issue price would be regarded as a ‘just about right’ outcome – not too big a gain to upset the relatively small group of pre-existing shareholders who sold into the offer process but big enough to make the subscribers content.”

That, ladies and gentlemen, is the conclusion of this week’s report and remember where you read it first. My special thanks to Simon Feilich and Tim Mooney for their much appreciated assistance with the preparation of this week’s edition of Virtual Realty News.

Cheers ^__^

For this week’s recorded Mosman real estate, Cremorne real estate, Neutral Bay real estate and Cammeray real estate sales www.rwm.com.au/news/

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