Inner East Market Wrap - May 2020
Centennial Park
There were 3 sales reported for the month of April, which continues a rather quiet streak for Centennial Park compared to last year. If history is anything to go by, we should see a shift in stock levels taking place now the COVID19 restrictions for open homes and auctions have been lifted.
Paddington
18 sales across Paddington with 14 of them being houses. This shows the strength in the Paddington market and its continuation from the previous months. There is a lot of confidence for sellers in the area knowing that buyers are still snapping up everything that the Paddington life style has to offer. The highlight sale for the month would be 12 Flinton Street which is a 3 bed, 3 bath terrace with parking for 2 cars. This property sold for circa $4,400,000 through McGrath Estate Agent Gareth Richards.
Woollahra
In comparison to their neighbours in the next suburb over, Woollahra has always been a tightly held region. With this in mind, there is no surprise that there were only 4 sales for the month. There is always something happening in the Woollahra area but not the the same volume as Paddington. The highlight sale for the month was 5A Forth Street which is a 4 bed, 3 bath house with parking for 2 cars selling for $2,700,000. We expect to see the stock level remains the same for the rest of Winter and early Spring.
With COVID19 restrictions lifted, timing is everything!
The best-selling period for 2020 will be in the next 4-6 weeks, before the moratorium of mortgages and government grants/stimulus packages come to an end.
Many sellers will now be waiting for spring to list, however there is no data that indicates selling during this season results in higher prices. Buyers never stop looking, prices are determined through buyer demand vs listing supply.
Centennial Park Sales:
- 20/127 Cook Road: 2 bed 1 bath 1 car - $1,052,022
- 6/27 Cook Road: 2 bed, 1 bath, 1 car - $1,000,000
- 36 Martin Road: 4 bed 4 bath 2 car - Circa $10,000,000
Paddington Sales:
- 35 Oatley Road: 4 bed 2 bath 1 car $33,350,000
- 40/110 Cascade Street: 2 bed 1 bath 3 car - Undisclosed
- 35 Gordon Street: 3 bed 1 bath 1 car - $2,950,000
- 53 Harris Street: 3 bed 2 bath 1 car - Circa $2,400,000
- 60 Gordon Street: 3 bed 2 bath - $2,000,000
- 5 Short Street: 2 bed, 1 bath - $1,540,000
- 12 Flinton Street: 3 bed 3 bath 2 car - Circa $4,400,000
- 107/176 Glenmore Road: 1 bed 1 bath 1 car - Undisclosed
- 55 Stewart Street: 3 bed 3 bath 1 car - $3,200,000
- 30 Boundary Street: 3 bed 2 bath 1 car - $2,600,000
- 25 Dudley Street: 2 bed 1 bath - $1,438,000
- 37/400 Glenmore Road: 2 bed 1 bath 2 car - $1,415,000
- 17/228 Moore Park Road: 1 bed, 1 bath - $750,000
- 8 Kidman Lane: 2 bed 2 bath 1 car - $2,200,000
- 31 Underwood Street: 3 bed 2 bath - $2,850,000
- 61 Windsor Street: 3 bed 2 bath 1 car - $2,650,000
- 306/357 Glenmore Road: 2 bed 2 bath 1 car - Circa $1,600,000
Woollahra Sales:
- 7/138 Edgecliff Road: 2 bed 1 bath - Undisclosed
- 9/326 Edgecliff Road: 2 bed 1 bath - Undisclosed
- 5/78 Ocean Street: 2 bed 2 bath - Undisclosed
To receive quarterly suburb reports, email me at [email protected]
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To find out more about what is happening locally, contact me on 0412 332 330.
Imran Hamidi
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* Please be advised that not all these properties were listed through our agency, we are merely providing relevant market information. Statistics & information were provided by realestate.com, Australian Property Monitors & RP Data
Executive Operations
4 年Great overview of the East, very informative. ??