Savills Cordeau Marshall continues to build on its 2016 success with a number of landmark sales to start 2017.
Savills Cordeau Marshall continues to enhance its market-leading standing in Sydney’s Ku-ring-gai property market, building on its 2016 success with a number of landmark sales to start 2017.
The Savills Cordeau Marshall group sold more property in the Ku-ring-gai property market than any other agency in 2016.*
In an exceptionally buoyant market, the group recorded 334 property sales across all suburbs in 2016 totalling over $615 million, including a record month in November of over $73 million. Another outstanding result was a record December weekend where an impressive total of $35m of property was sold including $15m on one day at auction with 100% clearance.
Savills Cordeau Marshall has kicked off 2017 in similar style with some stunning market results.
These include the sale of a Womerah St Turramurra property sold prior to auction for $3.65 million, an excellent return on the price it sold for in 2010 and in line with the median house price increase of 59%** for the suburb over that period. The property sold after just eight days on the market and two open homes, reflecting the continuing high level of demand for quality properties on the upper North Shore.
In another impressive result, Savills Cordeau Marshall has also recently sold a Killara apartment for a complex record of more than $1 million following an extremely busy campaign. Over 47 groups attended the first open home at 5/568 Pacific Highway, which then sold prior to auction for a record-breaking price.
Confirming that upper North Shore apartments are hot property, another apartment in Killara was recently sold by Savills Cordeau Marshall for $200,000 more than a comparable unit sale in the same complex last November.
Savills Cordeau Marshall Director Craig Marshall noted that beyond great results, the overriding objective of client satisfaction was clearly achieved.
“Our team works tirelessly to deliver exceptional results at the same time as providing outstanding service to our clients. It is a privilege to serve the residents of Ku-ring-gai and to help them achieve their property dreams.”
Savills Australia Head of Residential, Ged Rockliff, also offered congratulations to the group. “We congratulate the team at Savills Cordeau Marshall on their brilliant result for 2016 and strong start to 2017. It is precisely this level of performance that Savills are looking for, and which we knew would make the group a natural fit with Savills as we develop our business in the Sydney residential property market.”
The Ku-ring-gai property market experienced strong demand throughout 2016, fuelled by low interest rates, reduced levels of stock and increasing popularity of the area as a place to live. Known for its spacious properties, leafy environment, excellent amenities and schools, and access to city and public transport, property prices soared in the area, rising by 10.3% to $1.9 million. Particularly strong results were recorded in the suburbs of Chatswood, North Turramurra and Wahroonga.***
The heightened level of demand was highlighted on a number of occasions, one being an auction in November for a property listed by Savills Cordeau Marshall in Rose St, Chatswood. Attracting more than 120 people, the auction lasted over one hour, and in a highly competitive environment over 200 bids were recorded. Five strong bidders pushed the final sale price for the older property to a staggering $3,910,000, well above the reserve. Craig Marshall, Director and auctioneer on the day, said he hadn’t seen anything like it in his 30-year career.
Savills Cordeau Marshall has been operating on Sydney’s upper North Shore for over 30 years, and besides the five offices in Ku-ring-gai, the agency has access to more than 30,000 professionals in 700 locations around the world through the Savills global network.
Learn more about Savills Residential services.
*Realestate.com
** Corelogic
*** Domain.com (suburb median house prices)