Adrian Bo here, on Avoca street in Randwick. Avoca street has several notable historical buildings. The Randwick Town Hall which was built in 1881 but the sandstone building behind me with the square tower was built in 1859. It was built as an investment property by one of Randwick’s first elected local councillors, William Ellis. Briefly tried it as a Star and Garter inn and then became the house of Captain Thomas Watson who was responsible for the Captain Cook Statue being commissioned and erected in 1874. Built from Pyrmont Freestone by local sculptor Walter McGill, as well as the square tower. So Randwick is known throughout the world for its world class racetrack and Everest day is just around the corner 15 million dollars at stake and only 12 runners. It is a fantastic place to live, and has been very good housing price appreciation over the years. In the last 12 months, the median house price in Randwick, has grown to two point five, seven million dollars from two point three, one million dollars just a year ago. So that’s an increase year-on-year of 11.26%.

The current median price for Randwick apartments is 995,000 compared to 900,000 just 12 months ago, which is a 10.5% increase year-on-year. On average three times as many apartments sell as houses in Randwick. Randwick property listings get over 25% more views on realestate.com than any average across New South Wales. Our new secret property marketing sauce is magnifying that enormously. Average days on market for houses in Randwick are running at 61 days with 58 days for apartments in Randwick as well. Now I’ve been selling and auctioning properties in the Randwick area for over 30 years and in sharp contrast to the history we’re talking about, I recently sold a group of brand new townhouses at 2 Llanfoyst Street in Randwick, that were beautifully designed by Coco Republic and situated in a boutique development known as Elevate. I sold all the townhouses for premium prices, which included private direct elevator access into each property. As an auctioneer and agent, I feel I can control the sales process from start to finish.

As I talk to prospective purchases in the weeks building up to an auction. I really enjoy this process and feel it is the very best representation for the vendor in the tradition of Sydney Real Estate. The current auction clearance rate for Randwick houses is sitting at 86% which is very positive and with 70% of Randwick apartments selling via auction as well. Rental properties are yielding at 1.9% for houses and 3% in Randwick for apartments. Randwick is also one the old suburbs that’s so convenient for the CBD and has great amenities, easy access to even more in the Eastern Suburbs. That said, Josh Frieberg has got a difficult job in 2021 to keep this economy rolling and 2020 may well be a good time to consider selling. If I can appraise your property for sale please give me a call on O418-278-316 and I’d be delighted to assist you. Enjoy raw Randwick and the Spring Carnival all the very best.