Market Update July 2021

Market Update July 2021

Shellharbour Marina Real Estate has had a record month for property sales achieved in June 2021. Our sale at 10 Grace Place, Flinders achieved a record suburb sales price for $1,450,000 beating the record by $100,000. We’ve also seen continued growth in Shell Cove, selling 3/93 Harbour Boulevard, Shell Cove at $1,280,000 a record resale price for a 4 bedroom townhouse by $200,000. Another exceptional result was 10 Lord Howe Avenue, Shell Cove selling at $1,660,000 prior to auction. 


In addition we have introduced Holiday Rental Lettings to our portfolio of services. Our team has also grown with the appointment of Sales Agent Carly Pont, Carly comes with a wealth of experience and we are very glad to have her onboard. In fact, Carly listed her first 4 properties in her first month of joining our team.


The last few months of the financial year have seen the real estate market continue to perform well, with a slight reduction in the heated buying activity witnessed in March and April. Our days on market are still low at 30 days, with property demand still greater than supply. This creates a situation where we have multiple buyers interested in the same property which means that premium results are being achieved due to the competition to secure the property. Suburb Highlights – Due to the continued property growth in Shell Cove, the suburb has now moved (March 2021) into the medium house price bracket of over $1,000,000. This represents a growth of 11.36 % over the last 12 months between March 2020-2021, which is great news for property owners. 


The overall effects of Covid have also seen more people spending time in their homes and not being able to travel overseas, which has meant they are willing to spend more money on their homes, also contributing to the premium results we are achieving. Continued low interest rates (in some cases it’s cheaper to pay a mortgage than rent for first home buyers), which don’t appear to be increasing in the near future are also creating high buyer confidence. We are seeing the number of Sydney buyers increase due to the effects of now being able to work remotely for some positions and professions and therefore live in a more affordable lifestyle location. The progression of the Waterfront Marina development with an official opening in Spring this year, is also creating lots of interest and excitement within the area which is flowing into greater buyer demand for the Shellharbour region and specifically Shell Cove.   


Due to the recent Covid restrictions in place during the lockdown period, we are showing buyers through homes by private appointment only. The benefit to this is that we get to have in depth conversations with each buyer and develop a good understanding of what their needs are. We have a number of qualified buyers who are ready to purchase and actively looking for their next home. Please get in touch if you would like an up to date market appraisal or need any property related advice.