Residential Sales Data - Wyong Shire & Gosford City

As part of our ongoing market analysis our company carries out a review of residential sales data for specific suburbs within the Wyong Shire and Gosford City local Government area over quarterly periods.  The sales data for selected suburbs over the quarterly periods is then compared to the corresponding quarter from the previous year. The quarterly analysis is based upon total number of sales within a suburb, total value of sales within a suburb and median sale price for the suburb in that particular quarter. A tracking of these statistics analysed over the quarter for the previous year enables us to assess the change over a 12 month period. As new quarterly sales information becomes available for the relevant suburbs our residential sales data tables will be updated.

The residential sales data is based upon an analysis of residential sales only within the selected suburbs and specifically excludes inter-party/family transactions, strata unit sales, sales covering development sites and sales of rural/hobby farm properties.

Annual sales results for the selected suburbs within both Gosford City and Wyong Shire for the 2003, 2004 and 2005 calendar years has been compiled based upon our quarterly analysis and these tables are summarised below.

Residential Sales Data – Wyong Shire (First Quarter Comparisons 2004 - 2006)

An analysis of the first quarter results from January - March 2003 to January - March 2005 shows a clear downward trend in the total number of sales over the corresponding quarters. The reduction in the number of sales ranges from -33% to -57% in total number of sales. This clearly demonstrates the very buoyant nature of the market in the first quarter of 2003 and the strong buyer's market evident as at the first quarter 2005. An analysis of median sale price figures over the same corresponding quarters shows an upward trend in median sale prices ranging from 3% through to a 38% increase. This rise in median sale price values has occurred over the two year period, the majority of which would have occurred over the mid to latter quarters of the calendar year 2003.

Residential Sales Data – Gosford City (First Quarter Comparisons 2004 - 2006)

An analysis of the total number of sales from the first quarter period of 2003 to the first quarter period of 2005 shows a downward trend ranging from almost no change up to a reduction in total number of sales of around 61%. Again, this negative trend reflects the very buoyant market in Gosford City throughout the first quarter of 2003 to the strong buyer's market evident as at first quarter 2005. An analysis of the median sale price of the corresponding quarters over the two year period shows a general upward trend in median sale price values generally ranging from around a 10% increase to an 18% increase over the two year period. Again, this increase in median sale price values would have occurred predominantly in the mid to latter quarters of the calendar year 2003.

Residential Sales Data – Gosford City 2005 - 2006 (annual results)

Residential Sales Data – Gosford City 2004 (annual results)

• Six out of the seven listed suburbs decreased in the number of sales over the 12 month period of 2004.
• Four out of the seven listed suburbs decreased in median sale prices over the 12 month period.
• The statistics show a significant drop off in number of sales over the 12 month period.
• A softening of median sale prices is notable throughout the calendar year.
• A significant drop off in number of sales in strong trading suburbs such as Terrigal, Umina Beach, Wamberal and Wyoming is noticable.

Residential Sales Data – Gosford City 2003 (annual results)

• All suburbs increased in median value over the 12 month period (see note below regarding Terrigal's last quarter).
• Four out of the seven listed suburbs increased in the number of sales from the first quarter through to the third quarter of 2003.
• Five out of the seven listed suburbs decreased in the number of sales in the last quarter of 2003.
• A consistant strong level in number of sales is reported throughout the calendar year 2003.
• The poor median price figure recorded for Terrigal in the last quarter of 2003 is a reflection of a new residential  estate which was released in Terrigal with a significant number of vacant land sales around $300,000 to $350,000 reported for this quarter.

Residential Sales Data – Wyong Shire 2005 (annual results)

Residential Sales Data – Wyong Shire 2004 (annual results)

• Six out of the seven listed suburbs dropped in the number of sales or stayed the same over the 12 month period.
• All selected suburbs either dropped or stayed the same in median value over the 12 month period.
• Most median sale prices decreased over the 12 month period which was reflective of the sluggish market throughout the calendar year 2004.
• Total number of sales is significantly down on the volumes achieved in the calendar year 2003.

Residential Sales Data – Wyong Shire 2003 (annual results)

• Five out of the seven listed suburbs increased in the number of sales from the first quarter through to the third   quarter 2003.
• Six out of the seven suburbs dropped in the number of sales over the last quarter 2003.  This supports our opinion that the market peaked in around September/October 2003.
• All median prices increased over the 12 month period.
• The number of sales dropped off in the last quarter of 2003 but still solid number of sales were reported right throughout this very strong year.

Residential Sales Data - Wyong Shire & Gosford City on a Quarterly Basis

A review of residential sales data for specific suburbs within the Central Coast by quarterly periods has been compiled for the following calendar years.

Statistics have been analysed for seven selected suburbs within both Wyong Shire and Gosford City with quarterly results showing total number of sales and median house prices for the selected suburbs.  The statistics represent residential sales only excluding strata unit sales, in-party/family transactions and sales covering development sites and rural/hobbary farm properties.

Residential Sales Data – Wyong Shire (First Quarter)

The reduction in total number of sales for each suburb analysed above and the corresponding rise in average sale price is reasonably consistent across the suburbs as outlined. Bateau Bay is the notable exception where the volume of sales has actually increased and the average sale price has increased at a low level compared to the average recorded percentage increase. It is noted the 2004 sales records for Bateau Bay have been influenced by the recent release of a Mirvac Homes developed subdivision with a number of sales of vacant residential allotments within this estate recorded within the first three month period of 2004. The lower than average percentage increase recording for the Bateau Bay and Mardi suburbs would appear to be a reflection of the more highly valued status of these suburbs in the first quarter period of 2003. Bateau Bay is a recognised and popular seaside suburb that recorded a number of very strong residential sales in the East Bateau Bay locality throughout 2002 and 2003. Mardi is a modern residential subdivision developed close to the large Westfield Tuggerah Shopping Town Complex, Tuggerah Railway Station and the Tuggerah Super Centre. This residential suburb has been held in high regard for a number of years.

Residential Sales Data – Wyong Shire (Second Quarter)

• Number of sales dropped substantially in six out of seven suburbs from the very strong level set in the second   quarter of 2003.
• Six out of the seven listed suburbs showed an increase in median sale price over the 12 month period.
• The April to June quarter of 2003 was a rising market with further significant growth in this market to follow in the     third and fourth quarters of 2003.
• The April to June quarter of 2004 was a slowing period of the market with people generally coming to terms with       the fact that the market had peaked in late 2003 and was now entering a period of decline and stagnation.

Residential Sales Data – Wyong Shire (Third Quarter)