Slight Fall For Sydney House Prices
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Slight Fall For Sydney House Prices

NSW capital on track to record first dip since September 2020.

By Terry Christodoulou
Wed, Feb 23, 2022Grey Clock < 1 min

Slight falls of over 0.2% over the past four months, undoing a small gain recorded in January amid a surge in listings and weakening demand from buyers according to CoreLogic data.

The 28-day rolling tally in the CoreLogic daily index shows Sydney prices slipped into negative territory on February 19 for the first time since October 2020.

With the month almost at an end, the NSW capital is on track to post its first monthly drop in prices since the market bottomed out in September 2020.

“It’s likely we will be reporting the first month-on-month decline in Sydney’s home value index since September 2020,” according to Tim Lawless, CoreLogic’s research director.

“It’s certainly not showing evidence that the market is crashing, it’s probably best described as a levelling out in price, similar to what we’re seeing in Melbourne.”

According to Mr Lawless, the weakening trend in prices is likely to continue as stock is pushed onto the market through to Easter.

“One of the best leading indicators – the comparative market analysis generated by real estate agents on CoreLogic’s RP Data portal when they prepare properties for sale – had risen by 23 per cent over the year and 45 per cent higher than 2020,” he said.

Melbourne too is showing signs of softening with CoreLogic’s daily index reading indicating no change over the past four weeks following a 0.2% price gain in January.

Perth is only recording 0.2% growth over the rolling four-week measures, while housing values continue to record higher gains in Brisbane and Adelaide — up 2.1% and 1.6% respectively over the 28 days ending February 22.

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The waterfront residence is one of Port Stephens’ finest homes.

By Kanebridge News
Fri, Aug 12, 2022 2 min

In the coastal township of Salamander Bay — nearby to Port Stephens — comes a unique home crafted to take full advantage of unbroken ocean vistas across three levels.

With one-of-a-kind flair, the stunning 5-bedroom, 3-bathroom, 3-car garage home of 52 Randall Drive Salamander Bay is nestled on a private 577sqm plot, optimised through intelligent design to take advantage of the Port Stephens landscape and lifestyle.

Within the home sees the typically coastal textures of natural oak floor and timber feature walls take hold while stone and tiled adornments add layers of luxury.

The open plan living, kitchen and dining areas incorporate a fireplace and near floor-to-ceiling glass that opens to create a seamless indoor-to-outdoor dining and entertaining space on the home’s top floor.

The heart of this area is the kitchen, centred around a marble-topped island, state-of-the-art European appliances and an attached bar area, with built-in refrigeration, accompanied by a butler’s pantry.

Also here comes a grand outdoor spa, central to the balcony, while another outdoor entertaining area with a pizza oven is found on the middle floor.

Downstairs once again comes a second living space replete with the perfect wine cellar — cooled by the natural rock foundation of the home — offering an array of entertaining options

Of the home’s accommodation comes a private and luxurious master retreat with expansive ocean views, a walk-in wardrobe and an ensuite, here, speckled with grey terrazzo tiling and timber joinery vanities.  A further four bedrooms are found throughout the home along with two family bathrooms rounding out the offering.

Less than a five-minute walk from nearby amenities of shops, restaurants, cafes and beaches the home offers the best of the Port Stephens area.

The listing is with PRD Port Stephens’ Dane Queenan (+61 412 351 819) and Erin Sharp (+61 499 912 311) and is heading to auction; prd.com.au