JUST AVERAGE!!

JUST AVERAGE!!

As a result of last week’s edition, the topic of conversation this week has been the dramatic decline of properties on the market in Mosman since 2001. For those new subscribers, in 2001 Mosman had 445 sales and in 2005, just 265. We had plenty of feedback on these statistics which intrigued the vast majority as they have never been presented before. (You are not on your Pat Malone there, as most agents aren’t aware of these statistics). We delved even further and here is what we discovered.

Over the last three years, Mosman had on average, 39 public auctions per quarter, for houses. In the quarter July-September 2003, it recorded an impressive 97 public auctions (house sales in 2003 were 376), the lowest was October-December 2004 with just 14 (house sales in 2004 were 265). The average number of private treaty properties on the market was 120 and these included failed auctions from previous quarters. The total number of houses available each quarter, averaged out at 166. The average median list price from April 2003 to March 2006 was $1,798,540.

Apartments in Mosman average 24 public auctions per quarter. Again, the July- September quarter 2003, saw the peak with 51 public auctions. The lowest was July-September 2004 with 14 and the average number of private treaty sales each quarter came in at 157. The average (each quarter) for apartments on the market came in at 181 apartments. The average median list price from April 2003 to March 2006 was $474,542.

Houses in Cremorne average just 11 per quarter and private treaty listings average out at 32, taking the quarterly average to 43 properties with the average median list price sitting at $1,280,000. Apartments in Cremorne average 15 public auctions per quarter with private treaty sales coming in at 90. The combined average per quarter is 105.

Cremorne Point offers just 2 public auctions per quarter with private treaty homes coming in at 4 which leaves an average choice of six houses per quarter. The average median list price is $3,355,000. Apartments could only offer 4 auctions per quarter with the total average being 21 properties. The average median list price is $620,000.

Neutral Bay houses offer on average, 7 properties per quarter and in total the number on the market per quarter came in at 26. The average median list price is $1,125,400. Apartments in Neutral Bay offered 17 public auctions per quarter and the average produced 138 apartments for sale at an average list price of $460,000.

Cammeray offers on average, 8 houses for auction per quarter with a combined total of just 32 properties. The median price for a house $1,020,000. Apartments have 3 auctions per quarter and the average number for sale is 62 per quarter. The average list price is $460,000.

Congratulations to Cumberland Newspaper Group who announced this week that The Mosman Daily, North Shore Times and Manly Daily will, from July 1, be taking their business to the next level by going online. This will now allow expats and out of area purchasers the opportunity to view advertised properties online. Agents have been calling for this facility for quite some time and no doubt this move will win the votes of both vendors, agents and purchasers. Indeed a very smart initiative. No doubt they will be monitoring their traffic on www.alexa.com where you can type in your domain name to see what your traffic is. Alternatively, click on Traffic Rankings, then Top 500 then Australia to view the top ranking sites in Australia. The lower the number per site the higher the ranking and it comes as no surprise that Google.com.au is listed as Australia’s most visited site. When google launches into our property market, most are of the opinion that they will become the number one property portal in the country. Cheers ^__^

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