Turramurra Suburb Profile – North Shore Times

James Sutton recently provided insight for the North Shore Times into the current Turramurra market.

(Article by Matt Bell)

Sales

Recent Sales – 14 The Chase Rd

Top Sale – $3,600,000 – 7 Taylor Ave

Mid Point – $1,450,000 – 3 Catalpa Cres

Bargain – $599,000 – 5/15 Lamond Dr

Market insights

Median House Price – $2,000,000

Median Unit Price – $855,000

Median House Rent – $950pw

Median Unit Rent – $950pw

Who lives here

Population – 11,919

Av. household – 2.9

Median Age – 42

Av. Weekly household income – $2,657

Capital Growth

12 Month Growth House – 8.7%

12 Month Growth Unit – -0.6%

5 Year Growth House – 81.8%

5 Year Growth Unit – -39.7%

What to buy

Land size and location are the only two parts of a property that cannot be changed long-term so my advice to families looking to move to Turramurra is to always pursue properties that are desirable to them and on above average land size.

Appeal for buyers

Turramurra offers a wide variety of parks, cafes and bush walks that are highly sought after by families. Proximity to the city, elite schooling and the leafy (outlook) also attract buyers. The close knit communities and quality homes and streets, which many families have aspirations of moving to, are part of the appeal.

Opportunities

People buy for different reasons. Some Buyers will knock down old homes and build new ones to live in or for profit. Others will modernise existing homes, extend or landscape, hold properties for children or lease them out for additional income.

Have a question about your property? Speak with James today to discuss all your real estate needs.

James Sutton

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