12 May 2022
Welcome to our new video series Market Minutes with John Cunningham and Lochlan Macpherson.
This week John Cunningham and Lochlan Macpherson discuss the two outstanding property sales in Allambie Heights and provide details around the 3 main things in real estate that you should consider when selling a property.
We hope you are enjoying our market series and keep a look out for more to come…
Read the full transcript here Market Minutes with John Cunningham and Lochlan Macpherson:
John Cunningham:
Hi. It’s John Cunningham and Lochlan Macpherson from Cunninghams. We’re here to talk on this month’s Market Minutes. And the topic today is about two outstanding sales that just took place in Allambie Heights. In fact, two records in the space of a month, both over $4 million. Never happened before. So tell me, what were the three main things you thought that stood out for those properties to achieve that outcome?
Lochlan Macpherson:
Yeah. Good question, John. I think firstly, the appeal of both of those homes. When we talk about the appeal to buyers, we talk typically about ticking all the boxes. So with these ones, they did tick most of the boxes what we’d consider, when we grade properties, as an A-grade property. So with A-grade properties, the boxes that they tick typically include a nice family friendly, quiet location. You got that beautiful indoor to outdoor flow.
John Cunningham:
Right. Yeah.
Lochlan Macpherson:
Open plan presentation, I think is the key, north-facing aspect, nice level block, things like that.
John Cunningham:
Right. Yeah, absolutely understand.
Lochlan Macpherson:
Yeah.
John Cunningham:
So Lochlan, what’s number two?
Lochlan Macpherson:
So both of these properties had professional styling done. They were both marketed with magazine style photography, and had video tours done. So what this does is it really creates that emotive hook for the buyers, but also it really, I guess, taps into the lifestyle elements of the home.
John Cunningham:
So they imagine they’re living in that environment, aren’t they? In that situation.
Lochlan Macpherson:
Yes. Exactly.
John Cunningham:
I guess it’s what we call the Find Love Live effect?
Lochlan Macpherson:
Yeah, exactly.
John Cunningham:
Great.
John Cunningham:
So the third and final one Lochlan.
Lochlan Macpherson:
Yeah, sure. I think number three and perhaps most importantly, would be the reach. So because of the caliber of these properties and given our unrivaled reach to prospective buyers, we’re able to tap into markets and buyers that weren’t typically considering Allambie Heights. Because if you look at a lot of the parallel markets and some of them even more affluent markets, a lot of those core areas, we do have significant market share. And so again, because of the caliber of these homes, we’re able to bring buyers across from those areas and introduce them to Allambie Heights.
John Cunningham:
Right. So I suppose therefore, they’ve got the confidence in that local market to say, “Okay, I’m prepared to pay for 4 million plus for properties that are absolutely outstanding.” Because they offer better value to an extent. It’s still on the Northern Beaches and it’s that confidence in the Northern Beaches, isn’t it?
Lochlan Macpherson:
Yes.
John Cunningham:
That’s what it all comes down to.
Lochlan Macpherson:
Exactly.
John Cunningham:
I think that’s a great summary of what this market’s about right now. Outstanding properties are still going brilliantly. Not everything is. But the reality is, when you put all those ingredients together to make the property the best it possibly can, you’ll get the best possible result. So thanks Lochlan, really appreciate your time today.
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