WHEN THE BUNNY SHOWS THE MONEY!!!

WHEN THE BUNNY SHOWS THE MONEY!!!

Yet again, the strongest currency in ‘bricks and mortar’ is the oh so powerful Mosman dollar. Year in and year out it continues to out–perform the other suburbs in the Sydney property market. In an article that appeared today in The Australian “North shores up rich reputation with sales” by Maurice Dunlevy, “Sydney’s blue-chip Mosman recorded the most $1 million–plus house sales for NSW, making it one of 11 “over the bridge” suburbs on a top – 20 list”. This is nothing new to the dynamic 2088 postcode as it has remained unchallenged at the “numero uno” position for many years now. No doubt those poor relatives on the other side of the creek will be choking on their olives at the news that the Mosman currency remains the most popular and powerful.

NSW in total, managed to record 4290 sales in 2005 for houses and apartments combined, which is a fivefold increase over the last ten years. The breakdown was houses sold, 2958, with Mosman leading the way by posting 218 sales in 2005. In 2004 there were 272 sales, 2003 managed 374 sales and if we go back to 1995 the number was 495. So it could be said that Mosman is a “shrinking violet”, much the same as other Sydney suburbs. We have said for quite some time now that the property pie is fast resembling a party pie. The article went on to say that, “Mosman’s 72 $1 million–plus apartment sales were the highest of any suburb, but within the City of Sydney local government area there were 447 sales that included 50 in the CBD. Non–CBD sales were at Pyrmont, Woolloomooloo, Dawes Point, Elizabeth Bay and Potts Point.” It should be noted to avoid confusion, that these sales fall under the individual municipalities.

“Northbridge, Hunters Hill, Killara, Pymble, Roseville, St Ives, Wahroonga, Lindfield and Seaforth made up the over–the-bridge complement, while Randwick, Bellevue Hill, Vaucluse, North Bondi, Woolahra and Maroubra were the rest of the best in the beaten suburbs”. Oops I meant eastern suburbs.

In Mosman, the team at RWM showed some serious attitude this week when we exchanged eight properties with a value of $18,945,000. Gone, are 3 Silex Road Mosman at $7,420,000 and a confidential Mosman sale. 98 Muston Street Mosman $2,560,000 and 76 Macpherson Street Cremorne for $830,000 made up the number.

Four apartments were exchanged and just one sale went to an investor. No longer available are 6/122 Milson Road Cremorne Point $255,000, 6/11 Harrison Street Neutral Bay for $545,000, 14/12 Punch Street Mosman for $430,000 and 12/140 Ben Boyd Road for $405,000. It is pleasing to see the markets strong from the top–end right through to a studio apartment. Also, we have quite a few more properties on our menu in the final stages of negotiation and we expect another healthy announcement in next week’s edition.

The most noticeable difference in the market today is an agency’s point of difference when it locks horns with a very testing market. Our point of difference is well recorded and certainly stands the test of time. Have a great Easter Cheers ^__^

Leave a Reply

Your email address will not be published. Required fields are marked *