It is that time of the year where it is either game on or game off with the property market. We believe that the next thirty days will see strong market results in Mosman and this time it is the buyers talking the market up.

Last week, the Mosman market posted two $10,000,000 + sales and if you look carefully, you will notice on our property menu that a few homes have now been moved to dessert.

This week’s announcement by the Australian Bureau of Statistics (ABS) proved to be great news for some niche markets and a complete disaster for the outer Sydney market. This week’s edition of Home Price Guide reported, “At the risk of sounding alarmist, existing mortgage holders in those areas (south and south – west) are going to the wall and local market experts say that it is only going to get worse”.

“Mortgagee in possession sales are mostly conducted by auction. Analysis of the auction market can provide valuable clues in determining how forced sales are affecting the market”.

“In Sydney’s south – west for the 6 months to-date, there have been 614 auctions. This is a staggering 139 per cent increase in volumes from the corresponding period in 2005. The median price for properties auctioned (in Sydney’s south – west) in the last 6 months is $315K compared to $415K in 2003”.

“Similarly, in Sydney’s west there have been 602 auctions for the 6 months to-date, a 97 % increase in auction volume compared to the corresponding period in the previous year.”

The ABS announced this week that overall, established house prices grew by 2.2 per cent in the September Quarter and 9.5 per cent annually. Economists had predicted that quarterly growth would be 0.09 per cent (better luck next time). To put this into perspective, Perth jumped 45.9 per cent and Darwin 17.3 per cent, whilst Sydney managed just an 0.2 per cent increase.

Macquarie Bank recently carried out an in – depth analysis (trying to get a copy) of Sydney house prices from 1996 to 2006. The study found that median house prices of homes in suburbs close to the CBD, i.e. Mosman, Vaucluse, Point Piper etc. have increased their respective median prices five times, compared to western Sydney. We would expect this figure to grow. There is plenty of carnage left in these markets as families continue to relocate to the western state and territory (not to be confused with the western suburbs).

Macquarie bank, Australia’s largest investment bank, this week posted a 51 per cent (in first half) net profit of $730 million. We do know that aside from being our largest VRN subscribers in banking terms, they also love the Mosman currency.

Without a shadow of a doubt one of the greatest success stories of recent years has been the $80 million a year (and growing) online property market. Presently, there are just two property portals ( and that charge consumers, the news is that PBL has high hopes of being the third “pay for” property portal. Well I have said for quite some time that our property market will only justify two paid portals. So when PBL launches soon, it will have to be something pretty special or it could resemble the Just Missed – it oops, I mean Just Listed. Apparently, PBL will upload properties from our head office website (you can’t enter the market naked) then once it has reached its target, will come to see us and charge $175.00 per month. We have had no dialogue with PBL which is where its plans could seriously come unstuck. If you ask any of the newspaper groups that run both online and offline businesses to reveal one of its greatest mistakes in recent times, it would easily be the treatment of agents and taking them for granted.

Today, they go to great lengths to work much closer with agents and collect their feedback. In the past it was assumed that the directions came from the respective head offices which is not the case. The individually owned and operated businesses direct their advertising spends. This year, our total newspaper spend is the highest ever, which identifies that broadsheet advertising has plenty of life left in it. Yes, cheaper products are no longer cost effective – rentals have now moved to the Internet. The same can’t be said for properties for sale. Today, we are seeing larger advertisements that are simply bigger and bolder.

This week, we secured a few stunning waterfronts around the $15 million mark and a few other excellent properties that won’t be advertised just yet. So if you are in the market, not a property journalist, and you would like to record your interest, please send us an email with your buying criteria to

Just in time for Christmas !! Cheers ^__^

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