Maroubra Property Report SUMMER 2024 Courtesy of Ray White Maroubra | South Coogee
WHAT’S HAPPENING IN OUR MARKET? Sydney’s home values continued to increase throughout 2024, as the increase in properties hitting the market for sale has been met with strong buyer demand. However, greater stock for sale, affordability constraints, and the sustained higher interest rate environment have contributed to a sharp slowing of price growth in the last few months. It’s likely that certain types of properties will outperform others in Sydney in 2025. The ongoing preference for space, especially among families, means demand for quality houses in established, affluent suburbs will remain high. Eastern suburbs like Randwick, Coogee, and Maroubra continue to be sought after by families due to their proximity to the CBD, beaches, quality schools, and lifestyle amenities. They offer strong long-term growth and steady rental demand. WHEN SHOULD YOU BUY? Many people try to wait for the ideal time to buy from a market timing perspective. This is extremely difficult and as we have seen in recent years, even people who study the market in detail can get the outlook very wrong. Long term, it generally makes a limited difference anyway given how property markets perform over time. In terms of ease of purchase however, a slower market is easier to buy in as you can take your time to make decisions. While a slow market is an easier one to buy in, it is interesting that historically, first home buyers tend to be more active in overheating markets, or when first home buyer incentives are particularly generous. The best time to buy is when you are ready and the earlier you buy, the easier it is to build wealth long term and at the very least, have paid off your mortgage by retirement, if not earlier. If you’re considering a move, buying or selling, give our expert team a call. We look forward to helping you realise your property goals. Phillip Elmowy Anthony Vella Alex Santelli DIRECTOR DIRECTOR DIRECTOR
SOLD 112 Marine Parade, Maroubra House SOLD 106 Garden Street, Maroubra House SOLD 133 Moverly Road, South Coogee House SOLD 304/1 Pavilion Drive, Little Bay Apartment SOLD 298 Maroubra Road, Maroubra House SOLD 10/59 Broome Street, Maroubra Apartment SOLD 94 Mason Street, Maroubra House SOLD 6/11 Brittain Crescent, Hillsdale Apartment RECENT RESIDENTIAL SALES
Compared to five years ago, the median sales price for houses in Maroubra has increased 23% which equates to a compound annual growth rate of 6.2%. FAST FACTS MAROUBRA 1. 5. 3. HOUSES AVERAGE DAYS ON MARKET 46 MAROUBRA HOUSES UNITS MEDIAN $2,570,000 MEDIAN $1,180,000 HIGHEST $11,680,000 HIGHEST $2,375,000 LOWEST $720,000 LOWEST $505,000 4. LEASE MEDIAN HOUSE RENT (3 BED) $1,300 MEDIAN UNIT RENT (2 BED) $850 Source: CoreLogic RP Data 3 November 2024 - 3 February 2025 2. SALES $2.0M 100 $2.5M 200 $3.0M 300 $1.5M 0 2021 2022 2023 2024 2025 MEDIAN HOUSE SALE PRICE NUMBER HOUSES SOLD 17 HOUSES SOLD LAST 3 MONTHS UNITS SOLD LAST 3 MONTHS 35 68% HOUSE AUCTION CLEARANCE RATE
LEASED 10 Erith Street, Botany Office LEASED – Suites 1, 2 & 3, Level 1/229231 Maroubra Road, Maroubra Retail SOLD Lot 4/66 Dublin Street, Smithfield Retail SOLD 360-364 Botany Road, Beaconsfield Retail SOLD 244 Princess Highway, Sylvania Retail LEASED 3/155 King Street, Sydney Office SOLD 1/13-17 Cope Street, Redfern Retail LEASED 7-9 Ralph Street, Alexandria Industrial/Warehouse RECENT COMMERCIAL ACTIVITY
YOUR RAY WHITE TEAM DIRECTORS Anthony Vella 02 8347 6085 0412 232 904 Phillip Elmowy 02 8347 6060 0425 285 444 RESIDENTIAL & COMMERCIAL TEAM No.1 NSW/ACT Property Management Business of the Year 2019/2020 & 2020/2021 No.3 NSW/ACT Property Management Business Development of the Year 2019/2020 No.9 Blue Office Settled Commission 2019/2020 Premier Business Leader 2020/2021 & 2021/2022 RAY WHITE MAROUBRA SOUTH COOGEE RWC SOUTH SYDNEY 781 Anzac Parade Maroubra NSW 2035 (02) 8347 6000 rwre.com.au 11 Joynton Avenue Zetland NSW 2017 (02) 9101 8000 rwcss.com Amber Halil New Business Development Amy Vella Commercial Sales & Leasing Dean Cassidy Property Manager Dennis Theodorou Property Manager Dianah Farhat Sales Accounts Dimitra Georgallis Reception / Administration Eden Elmowy Licensed Real Estate Agent Faye Miao Financial Controller Helena Apostolatos Property Manager James Papachristou Property Manager Jason Malouf Licensed Real Estate Agent Joan Gannon Property Management Administration Joanne McNamara Receptionist John Skufris Licensed Real Estate Agent Karrisa Lisha Property Manager Katrina Vassiliadis Receptionist Kaye Lui Property Management Accounts Koxan Oey Leasing Consultant Matt Skene Property Manager Michael Guirguis Property Manager Mona Piankerd Property Management Support Natalia Kipic Sales & Marketing Administration Natasha Arifin Marketing Manager Orazio Palazzolo Property Manager Sophie Sutinen Sales Coordinator Tina Dimarchos Commercial Administrator Alex Santelli 02 9101 8008 0403 104 146
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