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PRDnationwide Leichhardt offers specialised services in Residential/Commercial
Sales & Leasing, Property Management, Auction Programmes , Strata
Management, Valuation Services, Project Marketing & Property
PRDnationwide Leichhardt was established in July 2004,
bringing together a dynamic and respected team of Real Estate
professionals totally committed to the Real Estate industry and
passionately dedicated in servicing the local community of Leichhardt,
Lilyfield, Rozelle, Annandale, Petersham, Marrickville, Lewisham and
Sydney’s Inner West
Beginning with a successful formula for superior service and expert advice, the PRDnationwide team
has quickly grown from 62 offices across the state of New South Wales
in 1984 to today where PRDnationwide comprises over 150 agencies across
the country - making PRDnationwide one of Australia's most formidable real estate firms.
Gross annual sales figures have escalated on an exponential scale -
climbing from a moderate figure in 1982 to approximately $2 billion
today. However, it is PRDnationwide's policy of controlled
expansion and a strong emphasis on research and information services
that has continued to see our dynamic company grow and succeed.
The alliance between PRDnationwide Leichhardt and PRD finds
its greatest and most impressive realisation at grass roots level. The
team combines expert knowledge and experience in the Inner-West with an
emphasis on quality service, integrity and professionalism. PRDnationwide Leichhardt is also able to deliver a unique service with the full logistical backing of the PRDnationwide franchise group and its cutting edge research division. Our extensive research assists PRDnationwide Leichhardt in providing tailor made strategies for their clients based on the latest economic, demographic and real estate data.
The growth of PRDnationwide Leichhardt is strengthened by the support of head office. PRD head
office opened for business over 30 years ago as a specialist property
research firm - PRD actually stands for Property, Research and
Development. Since then, PRD has become a strong force in
international real estate and is regarded as the leader in project
marketing and research. The PRD Nationwide group was also purchased by
Colliers International in 2006 forming the largest commercial and
residential property service provider in Australia.
The following Property Watch
report investigates into Leichhardt Area’s house market. The market includes
the suburbs of Leichhardt, Lilyfield, Lewisham, Petersham, Stanmore, Annandale
and Haberfield. In the first half of 2013 saw strong demand from professionals
and young families, some of whom first home buyers seeking to secure inner city
The House Sales Cycle
graph highlighted peak sales activity in November 2003 and November 2007, with
each period recording 500 plus transactions. Activity softened since the
November 2009 period as government incentives dissipated and mortgage rates
increased. More recently activity in the May 2013 six month period remained unchanged
from the corresponding period in 2012.
levels remained subdued, limited supply and strong demand for detached houses
in the area led to a rise in the median price, increasing by 8.4 per cent to
$937,500 in the 12 months to May.
A capital growth
analysis conducted by PRDnationwide Research confirmed the strong growth, with
an average increase of six per cent per annum for vendors who sold in the May
2013 six month period. The result equated to a doubling in house price every 12
years. On average houses in the area were held for a period of eight years and
The median price
growth can be further explained by a decline in sales under $900,000 and a rise
in transactions toward the top end of the market, with the share of
transactions in the $1,300,000 plus price point increasing by four per cent
from May 2012 to represent 16 per cent of the market.
House Price Point chart revealed a large concentration of sales in the $800,000
to $900,000 price point, accounting for 23 per cent of transactions. It is
expected that this price bracket will further decline in the second half of
2013 as a record-low mortgage rate environment and greater political certainty
increase demand for inner city dwellings.
Number of Bedroom chart pointed to a strong demand for family-oriented accommodation,
with three-bedroom houses representing almost half of all transactions (49 per
cent) in the past 18 months. For the same period two-bedroom accommodation
accounted for 30 per cent; these were normally single-fronted semi-detached cottages
rent prices peaked in May, recording a median weekly value of $725. Prices
softened since, closing at $680 per week at the end of July in response to the
recovery in property sales. The Advertised House Rent graph below compared the
median rent for the Leichhardt Area with its largest rental market, the suburb
of Leichhardt. The area’s May peak was not observed in the suburb of Leichhardt
although both the area and the suburb declined in the month of July. The gross
rental yield for a house ranged between four and five per cent.
share of rental accommodation remained unchanged between the 2001 and 2011 censuses,
with 40 per cent of dwellings in Leichhardt and 43 per cent of dwellings in
Annandale occupied by tenants. The stable result is proof of the sustained
demand for accommodation within a five kilometre radius of the Sydney CBD.
Limited development in the area over the past 12 years resulted in scarcity of
product and led to strong appreciation in house prices.
A positive outlook for
the Leichhardt Area is backed by an accommodative mortgage rate environment and
an improved investment in real estate, as other asset classes exhibit low
returns or volatility. The June quarter recorded the highest 12-month increase
in the volume of mortgage enquiries since June 2010, with the Veda Consumer Credit Demand Index
pointing to a 12-months growth of 13 per cent for New South Wales. The figure
reaffirms the market’s strength.