The Mosman real estate currency is (again) on a buy recommendation!

The Mosman real estate currency is (again) on a buy recommendation!

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Conspiracy theories, myths and madness where property markets were maligned and/or aligned to the meltdown from global financial crisis (GFC) – so where to now? From an agency perspective, it became patently obvious that in the modern era (new media) a very strong online platform is essential and this is why Richardson & Wrench Mosman & Neutral Bay (RWM) has been the Mosman market sales leader in 2009. Our marketing and technology strategies are different to other agencies – our point of difference.

Each week we monitor our online positioning on Google where we have organically positioned our business to be number one on its keyword search criteria for our demographic market such as Mosman real estate. For example, last week’s Google Analytics for RWM identified that direct traffic to RWM is 40.80 per cent, traffic from search engines is 39.91 per cent and referring sites is 19.30 per cent – so our very own website is beating the search engines (just) which is exactly how an online business should operate.

This week we have extrapolated the house and apartment sales data from www.domainpropertydata.com.au for all Mosman real estate sales from 1 January 2006 to 19 October 2009 – which we believe endorses our ‘buy’ recommendation. If you don’t agree, our blog is there for your opinion – otherwise known as freedom of speech.

Photo – Tim Mooney Photography

www.timmooneyphotography.com

No houseboat sales from the GFC either – Mosman battened down the hatches.

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MOSMAN HOUSE & SEMI SALES 1 JANUARY 2009 – 19 OCTOBER 2009

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Part Year
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Total Sales – 243*
Total Value Sold – $483,925,627
Median Price – $1,950,000
Average Price – $2,372,184
Highest Price – $13,200,000 (RWM)
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*This figure is incomplete as some completed sales are yet to be recorded so factor in an additional 10 – 20 % sales growth.
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MOSMAN HOUSE & SEMI SALES 1 JANUARY 2008 – 31 DECEMBER 2008

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Full Year – all sales completed and recorded
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Total Sales – 360
Total Value Sold – $834,377,612
Median Price – $2,220,000
Average Price – $2,709,018
Highest Price – $14,700,000 (RWM)
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MOSMAN HOUSE & SEMI SALES 1 JANUARY 2007 – 31 DECEMBER 2007

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Total Sales – 456
Total Value Sold – $1,230,497,720
Median Price – $2,305,000
Average Price – $2,874,994
Highest Price – $22,500,000
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MOSMAN HOUSE & SEMI SALES 1 JANUARY 2006 – 31 DECEMBER 2006

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Total Sales – 445
Total Value Sold – $1,037,244,630
Median Price – $1,971,000
Average Price – $2,469,630
Highest Price – $15,000,000
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HOUSING MARKET SUMMARY

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Minimal risk – to any outside economic factors which was evidenced by volume contractions over the GFC (manic panic) yet negligible forced sales. Expats have been busy selling currencies where despite the rise in the Australian dollar they still remain well positioned.House sales peaked in 2007 with 456 transactions and dropped in 2008 to 360 sales (96 homes). The value sold, tells an interesting story where in 2007 transactions totalled $1,230,497,720 and fell to $834,337,612 in 2008 (a direct result of a significant slowing of the multi – million dollar properties which we will address next week). The first six months of 2009 were very slow (total sales) but sales quickly escalated when RWM posted $63,000,000 in June (the Mosman recovery?)It will be interesting to see if 2009 house sales (currently $483,925,627) can match the 2008 sales of $834,377,612 and we will update weekly throughout the remainder of 2009. Such are the benefits of subscribing to Mosman’s only online real estate E-Zine.
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MOSMAN APARTMENT & TOWNHOUSE SALES 1 JANUARY 2009 – 19 OCTOBER 2009

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Total Sales – 383*
Total Value Sold – $262,101,227
Median Price – $510,000
Average Price – $722,041
Highest Price – $5,200,000
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*Incomplete data
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MOSMAN APARTMENT & TOWNHOUSE SALES 1 JANUARY 2008 – 31 DECEMBER 2008

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Total Sales – 477
Total Value Sold – $340,078,676
Median Price – $525,000
Average Price – $750,725
Highest Price – $7,500,000
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MOSMAN APARTMENT & TOWNHOUSE SALES 1 JANUARY 2007 – 31 DECEMBER 2007

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Total Sales – 500
Total Value Sold – $389,450,862
Median Price – $530,000
Average Price – $807,989
Highest Price – $4,750,000
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MOSMAN APARTMENT & TOWNHOUSE SALES 1 JANUARY 2006 – 31 DECEMBER 2006

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Total sales – 482
Total Value Sold – $320,918,542
Median Price – $500,000
Average Price – $703,768
Highest Price – $4,000,000
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APARTMENT MARKET SUMMARY

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The figures clearly identify no upward swing as a direct result of the First Home Buyers Grant – so minimal risk to values here also, once the cash rate starts moving upwards. Supply is the key with 482 sales in 2006, 500 sales in 2007, 477 sales in 2008 and 383 (and growing) in 2009. Mosman is a controlled market where it is interesting to observe the annual house and apartment patterns.
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2009 House and Apartment Total Sales

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Houses – 243
Apartments – 383
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2008 House and Apartment Sales

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Houses – 360
Apartments – 482
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2007 House and Apartment Sales

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Houses – 456
Apartments – 500
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2006 House and Apartment Sales

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Houses – 445
Apartments – 482
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Last week, I wrote about the movement of the Global Financial Crisis to a Government Financial Crisis so I thought you would enjoy this article by Peter Spearritt, Trouble in the City, which went online this week. “Australia’s big cities are in trouble. It’s true that they’ve survived the threatened recession courtesy of a vast amount of infrastructure spending, especially on roads, bridges, tunnels and continuing house and apartment construction. Booming real estate markets have hardly eased up, much to the regret of sensible economists.”

“Despite, or perhaps because of, all this growth, big – city dwellers are unhappy. Peak – hour traffic gets worse and worse; the cost of water and electricity keeps going up; and local councils provide fewer and fewer services – yet the rates still rise – and have outsourced almost all new building and renovation approvals, so ratepayers have to cough up for those as well. Some state governments seem so incompetent – New South Wales heads the list – that Armageddon appears nigh.” Yes – that would be our very own Fort Crumble – although I promised myself this week to give our politicians a rest as it appears they have gone to water.

A reason why RWM performs so strongly online was revealed recently when HubSpot (a leading American technology business) revealed that “from 1,531 HubSpot customers (mostly small – and medium – sized businesses) 795 of the businesses blogged and 736 didn’t.


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The data was crystal clear: Companies that blog have far better marketing results (RWM, is the only Mosman real estate agency that actually blogs).
55 per cent more visitors – providing more potential leads and sales
97 per cent more inbound links – increasing search engine rankings
434 per cent more indexed pages – creating a better chance of being found on search engines

Time and time again it has been said that – success leaves clues!

Congratulations to Peter FitzSimons and the over – 45’s Mosman rugby side who won their tournament. Not only were they undefeated, but kept all opposition sides scoreless in the World Masters Games.

The open water swim was a different story. It was called off because the water was too cold when it was measured at 13C (International swimming body’s open swim regulation level is 18C). Fort Crumble pocketed the $220 entrance fees (no refunds) when it was called off at Chowder Bay, Clifton Gardens (Mosman) last Saturday.

It has been brought to my attention that a very well known, respected and highly competitive Balmoral property developer was seen removing a thermometer from his personal esky and observed (reportedly by Brendan Warner from Raine & Horne Mosman) substituting it with the official thermometer. I am not one to start rumours – I write about them.

Another masterstroke to further improve our blog rankings as I’m sure the “Eskimo Pete” will have plenty to say on that! Happy tenth birthday www.domain.com.au

RIP – Don Lane

 

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/

5 Responses to “The Mosman real estate currency is (again) on a buy recommendation!”

  • Well you have done it again !!! Well researched report pity about the rumour started by Fat Boy Brendan I understand when he arrived at the start line he was overwhelmed by the distance between the buoys and was heard to to say ” How can I save face I just cant do the distance”. My mate David said it was only 100 metres!!! Like Robert I dont want to start rumours however Brendan as a real eatate broker understands the brown paper and was seen talking to the race officals !!!

  • I would have thought that Mr. Warner would have been at an open for inspection as against taking a leisurely swim in Sydney Harbour? He is afterall the Balmoral Beach Club Open Water Champion – so I guess he can make his own rules. Have you beaten him yet Pete?

  • Gordon says:

    Go the BBC!

    On slightly more serious matters, if anything can be taken seriously here in Fort Crumbled, it seems that residential property sales figures may be showing quite a big effect from the first home buyers grant. The Mosman figures above from Robert show that:

    In 2006, there were 8% more apartment sales than houses.
    In 2007, there were 10% more.
    In 2008, it was 34% more.
    And in 2009 YTD, it has been 58% more.

    Obviously there are a number of factors here, but it’s hard to avoid two conclusions – that we will see a near-record number of apartment sales this year, and the projected rapid increase in interest rates that is promised will test some of the first home purchasers.

  • Thanks Gordon,

    Our calculations at RWM identified that 1:3 buyers (that we sold) were to First Home Buyers taking advantage of the cash give – a – ways. What will be the impact? Well this is the first time the government(s) have ever given money away to entice property debutants into the property markets so in all probability when the RBA get serious and increase the cash rate to 4.25 per cent (100 points) will we then know (I predict a disaster) – given that inflation and its genie are about to play a major role in the equation also.

    Just as interesting in that when this happens this will place Fort Fumble too under the hammer – with a strong possibility of that (much awaited) double-dip! Artificial stimulus – and learning to crawl before one can walk spring to mind!

  • Nicholas says:

    Looking forward to this weeks installment

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