Spring has arrived and with it some much needed, and very welcome rain. It’s the perfect weather to grab a cup of tea, curl up in a cosy corner and enjoy our Berry Property newsletter for September.
Belinda Zoumis & Mark Cornish
MARKET OR MARKED DISPARITY?
As agents in Berry, we can track the market (in part) by the number of new enquiries on properties for sale, as well as informative discussions with outside buyers, who are mostly from Sydney.
While there are always Berry residents looking to upsize, downsize and buy into projects, the majority of buyers in the Berry property market are newcomers to the area. Many Sydney residents make their way down the coast to evade the rat-race of the city and, while holidaying, make decisions to retire in, or move their families to our town and surrounding areas. Indeed, we welcome former Sydney-siders to Berry on a regular basis.
Much fuss is made in the major Sydney newspapers about Market Indicators, with assigned percentages often quoted to demonstrate how much the market has fallen in Sydney, though these percentages vary greatly from suburb to suburb.
Recently, a buyer from Sydney commented that since his property in Sydney had ‘dropped’ by 12%, he had assigned the same calculation and deficit to the value of a Berry property. His expectation of pricing was not matched by the reality of price levels he found. That being said, properties on the market in Berry at present will not experience the same level of competition which drove prices to a premium 2 years ago.
Real Estate Agents in general, will work hard to maintain pricing in their target areas. Price variations will always exist, and sometimes for reasons that buyers are not always aware of, ie. low price due to unapproved buildings on the property or a premium price based on a property’s unique or highly desirable nature.
As we have mentioned in last months newsletter regarding Days on Market, price is becoming the primary reason for properties to remain on the market for extended periods of time.
MUTUALLY BENEFICIAL OUTCOMES
Writing this article reminded of a recent conversation I had with my son and his girlfriend who are deciding on the next steps in their life together. They, as individuals, have come from different backgrounds with different expectations, however, ultimately they want the same things in life.
Any relationship requires openness and an opportunity to voice expectations and needs, on both sides. There is a negotiation on key points, a little compromise on either side and finally an outcome which is beneficial for both parties.
The same is true with Vendors and Purchasers – expectations are set, negotiations conducted and with a little compromise, the deal is done and the agent goes home for a nap…
RECENTLY SOLD – 171 CAMBEWARRA ROAD, BOMADERRY
This 4 bedroom, 1 bathroom, 2 garage property on a 1,081sqm block in Bomaderry was recently purchased by a savvy investor.
Congratulations to our very happy vendor and to the buyer.
ON THE MARKET
Private oasis – 35-acre vacant block with stunning mountain views.
10 minutes from Gerringong and Gerroa, 15 minutes from Berry.
Price Guide: $1,400,000
8 TILGMAN STREET, BERRY
4 bedroom, 3 bathroom home with study, rumpus and double garage for purchase off the plan.
63 PARKER CRESCENT, BERRY
4,430 sqm vacant block with outstanding north-west aspect and uninterrupted rural views.
All town services including underground power, water, sewer & NBN.
SCHOOL HOLIDAYS IN BERRY
The spring School Holidays are just around the corner and there’s plenty of activities to keep the kids busy and happy in Berry.
Creative kids will love art classes with ArtXtra at Berry School of Arts or choose from the range of arts and craft workshops at This Old House Studio.
For budding chefs, there are Kids in the Kitchen cooking workshops at Far Meadow Table and Chocolate Making workshops at The Treat Factory.
Berry Sport and Rec Centre are also offering two one-day camps these holidays packed with exciting outdoor activities.
For an extensive list of school holiday fun visit the Events Calendar on berry.org.au.
Thank you for signing up to our newsletter. We hope you find the information we provide valuable and we look forward to helping you find your dream Berry property!
Belinda & Mark