Adrian Bo here and today I’m at Bundock Park, in the beautiful suburb of Clovelly. Now until 1913, Clovelly was known as Little Coogee, and in 1834, Wiliam Grenville bought 8 hectares for just 40 pounds, which included the whole bay frontage of Little Coogee and now Clovelly Beach. Not a bad investment Mr Grenville!! Now recently Randwick Library published a copy of the subdivision of Little Coogee from March 1909. 27 lots around Eastbourne Avenue and Ocean Street. It’s fascinating to think that the real estate market in Clovelly was only being established just over 100 years ago. By the way, Randwick City Council have recently completed their stage 2 consultation around upgrading Bundock Park with new equipment and landscaping. The Surf Life Saving Club, just to my left here at Clovelly was founded in 1906, which makes it one of the first established in the whole of Australia. So Clovelly is a relatively small suburb in terms of area and population, at the latest census, there were just under 5000 residents. This makes it a tightly held and coveted area.

The median house price in Clovelly is currently $3.27 Million based on 42 house sales over the last 12 months, compared to $2.735 Million, 12 months ago, that’s an increase of 19.6% year on year which is massive. The median for Clovelly apartments is currently $1.325 Million, compared to $1.25 Million 12 months ago, that’s an increase of 6%, which is not bad but obviously a lot less than the almost 20% for housing. Clovelly property listings get a staggering 81% more views on Realestate.com.au than average across New South Wales. Our recent property marketing sauce is magnifying that enormously. Average days on market for houses in Clovelly are running at 50 days, and 60 days for apartments in Clovelly. Now I’ve been selling and auctioning properties in the Clovelly area for over 30 years including recently, 1 Varna Street, last weekend with my colleague, Martin Farah. There were multiple parties interested in this property, and it ended up selling for a huge price of $3.4 Million. As an Auctioneer and Agent, we feel I can control the process from start to finish as myself, my team and my colleagues talk to prospective buyers in the weeks building up to an auction.

I really enjoy this process and feel it is the very best representation for all the vendors in the tradition of Sydney Real Estate. The current auction clearance rate for Clovelly Houses is sitting at 82%, which is significant and 77% for Clovelly apartments, successfully selling through the auction process. Rental properties in Clovelly are yielding a healthy 2.4 % for houses and 2.7% for apartments. Clovelly is one of those small, tightly held communities that revolves around this beautiful beach and institutions like the Seasalt Cafe and the fabled Blue Groper. Homes here have a very strong period of capital growth. Though the plummeting exports and a massive increase in business closures, high unemployment and an uncertain future as Jobkeeper is scaled back, meaning that 2020 may well be a good time to consider selling now. If I can help you appraise your property for sale, please give me a call on 0418 278 316 and I’d be delighted to help you. Enjoy this magnificent beach and the spring in Clovelly. All the best. And remember, your property is worth more with Adrian Bo