Palerang Region Property Report SPRING 2024 Courtesy of Ray White Bungendore
It’s that time of year - a moment for reflection, planning, and celebrating the achievements of the past year. Amidst all this activity, we’re here with our spring quarter update, insights on the general marketplace, and highlights of some recent sales. There’s no doubt that 2024 has presented a more challenging property market than we’ve seen in recent years. Spring has now concluded, with regional property markets continuing to outperform capital cities like Sydney, Melbourne, and Canberra. According to the Quarterly CoreLogic Regional Market Update, 10 out of 21 NSW Significant Urban Areas experienced property value declines in the three months prior to October. Locally, Batemans Bay recorded the largest drop in NSW, down 2.7% in the same quarter. While a softer property market in the ACT may have influenced this, it could also reflect the return to baseline after strong performance during COVID. Closer to home, it’s been a quieter year for sales volume, though buyer interest remains active. Online enquiries have been steady, and spring saw reasonable inspection numbers despite the market slowdown. To date, we’re reflecting on over 60 sales this year and are managing several additional properties due for settlement before year’s end. Buyer interest is strong across the board, although some price brackets and property types are performing better than others. Some of our key highlights this year include: • Top 10 ranking in NSW within the Ray White Rural Group 23/24 • Maintaining a market share of over 40% in our primary area for much of the year • Setting and then breaking the 2024 residential record sales price - twice in two weeks. As the holiday season approaches, our team is working hard to wrap up (pun intended) as much as possible before the New Year. It’s been a terrific year for us, and we hope it has been for you as well. To our 2024 vendors and purchasers, congratulations on your sales and new homes! To our suppliers, thank you. We wish you all a fantastic and safe holiday break and look forward to welcoming you back when we reopen on 6 January 2025. WHAT’S HAPPENING IN OUR MARKET?
OUR RECENT SALES IN YOUR AREA SOLD $825,000 SOLD $748,000 SOLD $965,000 SOLD $1,186,000 SOLD $784,000 SOLD $1,700,000 290 Donnelly Road, Bywong 16 Powell Street, Bungendore 25 Modbury Street, Bungendore 5 Hereford Street, Bungendore 6 Deniston Circuit, Bungendore 1208 Norton Road, Wamboin 3 1 4 5 2 2 4 2 2 3 2 2 4 2 4
OUR RECENT SALES IN YOUR AREA SOLD $412,000 SOLD $1,740,000 SOLD $690,000 SOLD $1,630,000 SOLD $1,410,000 SOLD $1,800,000 16 Whitton Rise, Bungendore 570 Trig Lane, Carwoola 45 Majara Street, Bungendore 726 Norton Road, Wamboin 8 Ireland Place, Bungendore 2 Whitton Rise, Bungendore 5 2 4 3 4 2 5 2 2 5 4 4 1 2 HIGHEST SALES PRICE IN ELMSLEA SO FAR THIS YEAR HIGHEST SALES PRICE IN ELMGROVE SO FAR THIS YEAR
OUR RECENT SALES IN YOUR AREA SOLD $1,100,000 SOLD $1,286,000 SOLD – CONTACT AGENT SOLD $405,000 SOLD – CONTACT AGENT SOLD $910,000 26 Eyre Street, Bungendore 35 Hyland Drive, Bungendore 1325 Hoskinstown Road, Hoskinstown 10 Nelson Terrace, Bungendore 600 Mount Fairy Road, Mount Fairy 2 Boyd Street, Tarago 4 2 12 5 2 6 5 2 10 HIGHEST SALES PRICE IN MOUNT FAIRY SO FAR THIS YEAR SOLD THROUGH DATABASE SOLD THROUGH DATABASE
Summer brings with it the threat of bushfires. The better and earlier you can prepare a property for bushfires, the higher the chance it stands of resisting and surviving. To improve your odds, here are seven precautionary measures you can take: 1 Keep your garden tidy Mow the grass regularly and don’t forget to remove the cuttings. Clean up fallen leaves and branches, and trim overhanging trees and shrubs. Clear the area around your home and remove any material that can burn, such as mulch, a woodpile or rubbish. 2 Clear your gutters of leaves and branches Leaves and twigs are highly flammable. If your gutters are clean, then the risk of ignition during a bushfire will be considerably diminished. Check and remove all debris from your gutters regularly. If you can, install fire-resistant gutter guards. 3 Seal your house against embers Most homes ignite when sparks or burning embers blow under tiles and start fires in roofing timbers or accumulated litter. Look for and fix or replace any missing or faulty tiles. Seal all gaps, cracks and holes in your roof and walls. Compressed mineral wool insulation is cheap and effective for this. 4 Check and update your smoke alarms Play it safe and equip your home with plenty of smoke alarms as they could save the lives of you and your family. Check them once a month and replace the batteries every year. 7 THINGS TO PREP YOUR HOME FOR BUSHFIRE SEASON 1 2 3 4 5 6 7 5 Prepare yourself with a bushfire plan Before it comes to the worst and panic sets in, make sure that you know how to act in case of an emergency. A survival bushfire plan details every step to take. Try to think about all the choices you would need to make in the event of a bushfire, and decide what the plan is for each situation you would face. Make sure your property is accessible for RFS vehicles. 6 Understand bushfire danger ratings and stay alert It is essential that you know and understand bushfire danger ratings. Monitor the conditions in your area, stay alert and be ready to leave if required. You can download apps such as “Hazards Near Me” and set up watch zones, listen to the radio, or simply watch the news. 7 Check your home and contents insurance Even if it’s not mandatory, take out a policy that will protect you in case of bushfires. If worst comes to worst, you might need to provide supporting documents when submitting a claim. Take photos of your house and belongings, and scan all your house-related invoices or paperwork. Save everything in the cloud and keep the originals in a safe place, easy to access in case of fire.
A WORD FROM OUR CLIENTS “Ava has great knowledge of the local area. She is enthusiastic, meeting every potential buyer and walking them around our 6-hectare rugged bush block. Her communication is excellent and timely. Nothing is a problem for this delightful lady.” Russel Tunks, Seller in Bywong “Very professional and stress-free, the service was tailored especially to our needs and exceeded all expectations.” Nathan Exton, Seller in Bungendore “Doug has been a great agent, kept us updated on all the potential buyers, when he was taking people to the property, and feedback on things as needed. Would highly recommend him to family and friends who go through this process.” Alex Djikic, Seller in Mount Fairy “Doug was great to deal with from the first time we met at our property and through the whole process. Very professional and straight down the line bloke. Wouldn’t hesitate to go with him again in the future.” Luke Bollard, Seller in Mulloon “Ava is a breath of fresh air. Selling your home is a big step and Ava’s professional confidence gave us such comfort throughout the process. Her unwavering belief in the successful sale of our home never faltered, and she was right. She is an experienced agent who knows what she’s doing and how to present our property to market beautifully. She is the most positive agent we have ever met and there is no doubt that her lovely communication style attracts and influences buyers.” Sue Janas, Seller in Bungendore
Ray White Bungendore 10 Malbon Street, Bungendore (02) 6238 0700 bungendore.nsw@raywhite.com raywhitebungendore.com.au Doug Merriman Principal/Sales Licensed Real Estate Agent & Stock & Station Agent 0419 999 001 doug.merriman@raywhite.com Ellie Merriman Principal/Sales Licensed Real Estate Agent & Stock & Station Agent 0402 117 877 ellie.merriman@raywhite.com Ava Merriman Sales Licensed Sales Agent and Stock & Station Agent 0429 517 003 ava.merriman@raywhite.com YOUR RAY WHITE TEAM Grace Tobler Client Services 6238 0700 grace.tobler@raywhite.com Erin Harris Client Services 6238 0700 erin.harris@raywhite.com
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