YOUR GORDON PROPERTY REPORT WINTER 2023 Courtesy of Ari Akbarian
WELCOME TO YOUR MARKET UPDATE 2022 was a challenging year for the property market as multiple cash rate hikes resulted in lowering the borrowing capacity for buyers which consequently cooled demand. This took a toll on prices throughout Australia, however, due to a decrease in supply, the Sydney real estate market remained resilient. Yes, buyers are cautious and their borrowing capacity is significantly lower but the same can be said for sellers who are worried they will be affected by the same scenario when they become buyers. This is why we believe most vendors have delayed selling their properties until cash rates stabilise, in order to have certainty with their next move. Importantly, buyer demand is still strong which means auction rates for the properties which are being sold are continuing to track at the highest levels seen in nearly a year, pushing Sydney’s property market into revival mode. Sydney recorded a third consecutive monthly rise in housing values through May, surging 1.8% over the month, pushing the quarterly change back into positive territory for the first time since March last year. New listings are 13.2% below the previous five-year average and almost 23% lower than a year ago. As we know, Sydney’s market is not a one-size-fits-all property market. While prices have since cooled from their peak across the city, some of Sydney’s most sought-after areas continue to fetch impressive prices. As of 4th May 2023, Gordon median house prices had reached $3,443,628 and unit median prices were at $948,300. If you’re like most residents, your family’s home is your biggest and yet you possibly don’t know how much this asset is actually worth. Call us today, we’d be delighted to provide you with an obligationfree market appraisal. Yours faithfully, Ari Akbarian Member of the Royal Institute of Chartered Surveyors Bsc (Hons) Investment and Finance in Property Licensed Real Estate Agent
ARI’S APPRAISALS ARE WORTH MORE THAN YOU THINK A strong collective of Agents with great fusion, energy, diligence and knowledge are offering their service to the community of Ku-ring-gai. Ari has been on a recruitment drive for over 7 years and believes that this team is his best yet. Ari stated: “It is hard to find a combination of harmony and synergy within a team of skilled property professionals and I am excited to have finally found what I have been looking for. My clients have high expectations, as do I, when it comes to achieving a high standard of service. This team has been stress tested and trained accordingly to meet and surpass goals I have set. Each member of this team brings a bespoke skill set that enhances my performance in every job I undertake.” The team is as follows: Margaret is a compassionate real estate professional who guides clients through their property journey with care. Margaret’s empathetic nature and vast property knowledge is evident when managing processes from Appraisal through to Settlement and beyond with our ‘After Sales Service’, ensuring quality control at each step. Margaret is also a Business Developer within the ASSET Management Team which gives our landlords and property stakeholders the benefit of adding value to their portfolio through consultation, assisting Ari. Renita is gentle, caring, humble, survived Ari’s vigorous property training and has a thorough understanding of the Ku-ring-gai area. Renita’s bilingual language abilities (Mandarin and English) assists Ari to break down language barriers when introducing and negotiating properties with buyers or lessees. If you are advertising to communities within the Far East of Asia, then Renita should be your first point of contact. Her extensive social media network and unique advertising platforms seamlessly connect with a diverse group of qualified buyers and will certainly add value to any campaign undertaken by ASSET Realty. Jacob is a dynamic and enthusiastic support to our team with his youthful energy, literacy skills and understanding of social media. Jacob’s goal is to enhance his skill set and in turn grow the network with hard work very much his ethos. If your property goes viral on the internet and you have a rush of buyers/potential tenants at your door, it probably has something to do with Jacob. Jacob’s attention to detail (which is surprising given his age) assists Ari by cross checking written drafts in order to pinpoint any discrepancies, ensuring a high quality of information is produced by ASSET Realty. Together Everyone Achieves Momentum
SOLD BY ARI AKBARIAN IN 2023 SO FAR... “You get one chance to create a first impression.” “Make your first impression count.” “Staging and production is key to presentation.” “That’s why we spend the time to make it worth your while.” 11 Holford Crescent GORDON Attendees: 65 Offers: 9 Contracts: 27 Method of Sale: Private Treaty Attendees: 80 Offers: 7 Contracts: 21 Method of Sale: Private Treaty Attendees: 46 Offers: 4 Contracts: 5 Method of Sale: Private Treaty Attendees: 110 Offers: 5 Contracts: 17 Method of Sale: Private Treaty Attendees: 101 Offers: 3 Contracts: 17 Method of Sale: Private Treaty B102/6-14 Dumaresq Street GORDON 67 Moree Street GORDON 69 Elgin Street GORDON 62 Elgin Street GORDON SOLD $2,950,000 SOLD $1,090,000 SOLD $5,100,000 SOLD $2,700,000 SOLD $2,950,000
SALES IN GORDON JANUARY - MAY 2023 Houses Bed / Bath / Car Sale Price Units Bed / Bath / Car Sale Price JANUARY 69 Elgin Street 5 / 2 / 4 $2,700,000 323/8 Merriwa Street 1 / 1 / 1 $625,000 FEBRUARY 3 Metzler Street 4 / 1 / 1 $2,620,000 28/183 St Johns Avenue 3 / 2 / 2 $1,910,000 6 Nelson Street 5 / 2 / 2 $4,000,000 B102/6-14 Dumaresq Street 2 / 2 / 1 $1,090,000 63 Ridge Street 4 / 3 / 2 $2,800,000 LG02/24-26 Dumaresq Street 1 / 1 / 1 $652,000 23 Edward Street 5 / 4 / 2 $5,100,000 B13/803-805 Pacific Street 2 / 2 / 2 $965,000 42 McIntosh Street 6 / 4 / 4 $6,300,000 6/16 Cecil Street 2 / 2 / 1 $1,030,000 33 St Johns Avenue 4 / 3 / 2 $1,600,000 605/71 Ridge Street 1 / 1 / 1 $660,000 303/888B Pacific H/way 1 / 1 / 1 $630,000 4/61-63 Werona Avenue 3 / 2 / 1 $1,388,000 MARCH 11 Holford Crescent 4 / 3 / 2 $2,950,000 14/23-31 Mcintyre Street 1 / 1 / 1 $672,500 5 Bushlands Avenue 4 / 1 / 2 $3,400,000 8/713 Pacific H/way 3 / 2 / 2 $1,350,000 17 Nelson Street 4 / 3 / 2 $7,150,000 26/16-22 Dumaresq Street 3 / 2 / 2 $2,080,601 3 Browns Road 4 / 2 / 2 $4,100,000 304/888A Pacific H/way 2 / 2 / 1 $994,000 39 Craiglands Avenue 4 / 3 / 2 $3,400,000 305/888A Pacific H/way 1 / 1 / 1 $995,000 17 Holford Crescent Land $2,010,000 B201/3 Fitzsimons Lane 2 / 2 / 1 $845,000 1 Highlands Avenue 4 / 3 / 2 $2,880,000 5/23-31 McIntyre Street 1 / 1 / 1 $620,000 APRIL 42 Merriwa Street 3 / 1 / 1 $2,905,000 39/16 Cecil Street 2 / 2 / 1 $1,125,000 13 Baldwin Street 4 / 2 / 2 $2,401,000 25/12-14 Cecil Street 2 / 2 / 1 $1,090,000 64 Ridge Street 4 / 2 / 2 $2,700,000 58/183 St Johns Avenue 3 / 2 / 2 $1,750,000 84 Rosedale Road 2 / 1 / 1 $1,960,000 108/888A Pacific H/way 1 / 1 / 1 $645,000 3 Taylor Street 4 / 2 / 2 $2,675,000 104/888A Pacific H/way 2 / 2 / 2 $1,000,000 84 Rosedale Street 2 / 1 / 1 $1,960,000 121/183 St Johns Avenue 3 / 2 / 2 $1,880,000 2 Park Lane 3 / 2 / 2 $2,950,000 4/705 Pacific Highway 3 / 1 / 1 $1,000,000 503/71 Ridge Street 2 / 2 / 1 $850,000 MAY 1 Holford Crescent 5 / 3 / 2 $3,000,000 LG06/888A Pacific H/way 1 / 1 / 1 $580,000 62 Elgin Street 4 / 3 / 2 $2,950,000 8/16-22 Dumaresq Street 3 / 2 / 2 $1,400,000 67 Moree Street 6 / 6 / 6 $5,100,000 B201/3 Fitzsimons Lane 2 / 2 / 1 $845,000 65 Moree Street 4 / 2 / 2 $3,540,000 B5/803 Pacific H/way 2 / 2 / 1 $1,032,000 20 Rosedale Road 4 / 2 / 2 $4,330,000 308/904-914 Pacific H/way 2 / 2 / 1 $850,000 19 Lennox Street 5 / 3 / 3 $3,588,000 38/16 Dumaresq Street 1 / 1 / 1 $708,000 33/ 728-730 Pacific H/way 1 / 1 / 1 $680,000 305/77 Ridge Street 1 / 1 / 1 $530,000 17/29-33 Dumaresq Street 2 / 2 / 1 $930,000 402/ 11-15 Moree Street 2 / 2 / 2 $1,340,000 26/16-24 Merriwa Street 1 / 1 / 1 $620,000
FAST FACTS House sold year to date 32 Unit sold year to date 50 House sale price Highest sale price Lowest sale price Median sale price Average days on market $7,150,000 $1,960,000 $3,000,000 52 Unit sale price Highest sale price Lowest sale price Median sale price Average days on market $2,080,601 $330,000 $902,500 74 Gordon Compared to five years ago, the median sales price for houses in Gordon has increased 46% which equates to a compound annual growth rate of 7.9%. Source: CoreLogic RP Data 1 January - 31 May 2023
Choosing a Real Estate Agent to carry out an appraisal can be a daunting prospect and often the Agents tell us what we want to hear. Being a professional, I look at properties at their highest and best use and price accordingly. Vigorous research honed through experience and education forms part of my appraisal process. It is important to discover my potential clients’ property’s features that will sell. The positive features assist the Agent to determine your target market, and the negatives are noted in areas for improvement. We then carry out a market analysis, where we compare like for like properties in your area to estimate the selling range for your home. This is a crucial step in the preparation of your campaign as pricing is a key component. Pricing will also lead to improvement decisions (renovation or rebuild) to achieve the highest possible result, given the execution of the recommendations from the Agent. Here is a testimony from a Gordon resident who wished they had sold with Ari in 2023: Ari is a genuine professional with a thorough understanding of the housing market. My husband and I first met Ari in 2016 when we were considering selling our family home of 21 years. He had recently sold a neighbouring house for a street record. At our first meeting we were struck by his convivial and respectful nature and his knowledge of the market and economy in general; my husband is an economist so Ari’s intelligence in this regard was very apparent. He gave us an appraisal which we thought was fair, he also made suggestions of what we could do to improve our home to enhance its saleability. He did not pressure us to sign with him or indeed to even sell our home. Over the next few years we remained in touch. He was happy to come to our home and speak with us. We also spoke with other agents but would always go back to Ari as he just came across as having more integrity. In late 2022 we finally made the decision to sell. We contacted Ari for an appraisal which we received promptly. Another agent gave us an appraisal that was substantially higher. This agent had a recent track record of selling large homes in the area so we felt that his appraisal may hold true. As it turned out, it was not even close. We signed up with the other agent. Our experience was very disappointing. In short we ended up selling our home for substantially less than his appraisal minimum. Frankly, we made a mistake not contracting with Ari. His appraisal of our home was accurate and his suggestions for improvements were completely correct. If you are thinking of selling your home we highly recommend Ari and his team. He is honest, knowledgeable, well connected and energetic. Sellers in Gordon - March 2023 ARI’S APPRAISALS ARE WORTH MORE THAN YOU THINK If you are selling now, some time in the future or are just curious about your property, book Ari in. Just email ari@assetrealty.com.au or SMS 0433 227 958. No prejudice against the Selling Agent associated with the review.
Start creating your home into an Asset by booking a market appraisal with Ari Akbarian. It’s free, value add and will give you an insight into market demands. Connect with Ari and his team in order to source off-market opportunities and latest sales. Ari’s calming manner worked wonders for us “We just sold our home in Gordon with Ari Akbarian. I can’t speak highly enough of Ari. From the very start of the process he gave us the right advice on what we needed to do to get the property ready for sale. He really listened, cares passionately about his job and his calming manner worked wonders for us. His professionalism, knowledge, honesty, integrity and hard-work are very much appreciated and respected. We highly recommend working with Ari and his team at Asset Realty” SELLER REVIEW Responsive, kind and a constant professional ““We had the pleasure of working with Ari and the Asset Realty Team. From start to finish he was very responsive, kind and a constant professional. Ari helped a lot with buying our apartment. Ari was also great at giving us the right advice and the things needed to spike interest in our apartment. In a matter of two weeks our apartment was rented! We highly recommend Ari.” BUYER REVIEW YOUR LOCAL AREA EXPERT 795 Pacific Highway, Gordon NSW 2072 02 9498 7799 | assetrealty.com.au Ari Akbarian MRICS LREA Partner Bsc (Hons) Investment and Finance in Property, University of Reading ari@assetrealty.com.au 0433 227 958 Margaret Matthews Sales & Business Development margaret.matthews@assetrealty.com.au Renita Wang Sales Assistant to Ari Akbarian renita.wang@assetrealty.com.au Jacob Carter Concierge sales.support@assetrealty.com.au Asset Realty believes that the information in this report is correct but does not warrant or guarantee the accuracy of the information. Certain information has been obtained from external sources and has not been independently verified. You should make your own enquiries and check the information.* Scan here for more about Ari
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