• August 27, 2020

While there are question marks around reducing stimulus, growing unemployment and how this may influence borrowing power and buying decisions, our local market is holding up well and remains in good shape. It’s fair to say that the price growth we enjoyed throughout the first three months of this year has disappeared, however we’re only marginally behind values obtained in late 2019, which stands as one of the highest levels in Sydney’s property history.

If the conversations we’re having with buyers are anything to go by, our market appears set to continue in this current fashion, with blue-chip property being snapped up quickly and all other property finding a buyer if priced accurately.  

101 Rowntree Street, Birchgrove

A number of recent local sales support this opinion. Rosemary Chen sold an elegant Victorian harbour-view terrace at 101 Rowntree Street, Birchgrove for between $2.1m and $2.2m. Rosemary comments, “The owners were located interstate and under lockdown so it was vital that we took them on the journey with us from the very beginning. They absolutely loved this home and wanted to ensure that it presented beautifully. This covered any home preparation works, styling, photos, the works. We spoke almost every day during this phase of the campaign, sharing photos and FaceTiming to ensure they were comfortable with our progress despite being physically far away and they also received daily inspection and buyer updates. We even created a Whatsapp group with our owners and everyone in our immediate team to ensure everyone was on the same page. I believe it was this absolute transparency that really helped provide confidence our process and our management of the campaign. 

Great views always draw a big crowd in our area and this property was no different. Interestingly though, out of the 70 or so buyers that inspected, 90% were locals. To secure an excellent result we identified the interested parties early and worked through who was ready to go and at what level. We made sure all interested parties were informed of the progress and ensured we addressed any concerns they may have had. There were many buyers wanting to make offers and our owners were happy to consider selling before auction. Blue chip property seems to always hold value in our area despite what is happening around us. The successful buyer saw the property only twice the week before and we’d actually met him two years earlier at another Birchgrove terrace.”

85 Salisbury Road, Stanmore

Jonathan Hammond and Stephanie Zerial recently sold 85 Salisbury Road, Stanmore, a beautifully renovated freestanding Edwardian home, for $1.64m Stephanie says, “To amplify its appeal we had the home professionally styled. By conducting plenty of private appointments in addition to the two public weekly opens, we saw more than 100 groups come through the home, which is very strong enquiry. From this we issued 10 contracts and had two registered bidders. The ultimate buyer was well known to us as C&H had sold their Rozelle property for them. Hard work and a tailored auction campaign were instrumental in us achieving a great result for our happy vendor, all the while following the stringent COVID regulations.”

244 Victoria Road, Drummoyne

Mia Fredrix and Mario Mazzeo sold 244 Victoria Road, Drummoyne, a beautiful old home held in the same family for more than 50 years and at one stage was a doctors surgery. Mia says, “The home presented itself with some beautiful period features and required someone to return it to its former glory. The biggest challenges were that it was on Victoria Road and it needed a lot of work. Despite this we had 45 people inspect the home, issued five contracts and had two buyers fighting over it, fueling the competition that took it to its ultimate sale price. The buyer came from realestate.com.au and the under-bidder was from our database. The property was exchanged after only three opens to a young family from Castle Hill who could see the potential and loved the proximity to the city. After exchange we were presented with a 15 day cooling off period due to the fact that banks are being very cautious on deals at the moment, however the sale went through successfully. Drummoyne has seen a median price increase of approximately 12% over the last 12 months which was a great selling point.”

At Cobden & Hayson we know what it takes to help you through the buying process. We conduct weekend, mid-week and private inspections to ensure potential buyers can view a property at a time that suits them. At C&H we have a centralised database shared between five office locations with an avg of 600 new buyer’s being entered each week. We inform eager buyers of the freshest new property listings through email, text or a phone call providing them with an opportunity to view a property before it’s listed on public real estate portals. We build close relationships with buyers with our aim being to link them with their ideal new home all the while providing them with accurate area information, so each buyer can make a smart buying decision. If you’re looking to make a move, we’d love to help you today.

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