A record sale in Therry St, Drummoyne, raises the temperature this winter
The recent sale of 5/2A Therry Street was an absolute nail biter and the highest price paid for a 2 bedroom townhouse in Drummoyne, SOLD $1,117,000.
There has been huge demand lately for townhouses, with very few actually being available. It appears to be that sweet spot between a house and an apartment offering the best of both worlds. A good mix of upsizers (coming from an apartment and can’t afford a house), and empty nesters who don’t want to be in an apartment and have the flexibility to lock up and travel without the maintenance of a full yard are our main audience.
The Therry Street property is only 6 years old and maintained beautifully by our vendors – at a time where the “turnkey” solution is still the preferred in this market place it was no wonder we were bowled over in the rush for purchasers wanting to secure such a residence.
The vendors were very receptive to presentation tips and a tailored auction campaign which resulted in an enormous 11,500 people viewing the property online (double the views of most other listings). We had 171 email enquiries, over 100 phone calls, 147 buyer inspections (11 of which were 2nd/3rd inspections). 7 registered on the day, with 4 putting their hands up. A good number of purchasers also came from the Inner West Courier which demonstrates the need to appear in different forms of media to reach a cross section of purchasers so as not to miss anyone.
The finalists for the industry’s only national awards, the Real Estate Business Awards for Real Estate Excellence partnered by Domain, have been revealed and we are excited to announce that Warwick Williams Real Estate has been shortlisted as a finalist in TWO CATEGORIES – Boutique Independent Agency of the Year & Property Management Business of the Year!
We would not receive nominations like this if it were not for the hard work and dedication of all of our staff which is very much appreciated. Winners are announced in July – regardless of the outcome, we are very proud of our team.
Early November saw the Fair Trading Minister, Mr Anthony Roberts, announce some of the biggest proposed reforms to NSW Strata by-laws in some 50 years.
Some of the most considerable changes are surrounding pet policies, smoking on balconies/terraces and the installation of timber or tiled flooring. The changes to by-laws are set to take place from mid 2014 after NSW Parliament considers them early in the new year.
Mr Roberts said one of the driving factors for such a major overhaul in the NSW Strata laws is due to the existing volume of people living in strata buildings and the likelihood that the proportion of population living in strata complexes is set to rise. The Minister suggested in 20 years half of the state’s population will live in apartments or town houses. He noted that currently 30% of people live or work within strata communities and in NSW there are more than 72,000 registered strata plans.
Under the new model by-laws, pets will now automatically be allowed in strata units, unless they disturb a neighbours enjoyment i.e. barking dogs, not cleaning up after pets or wandering pets may be cause for an Owners Corporation to “evict” a pet. This will certainly give buyers and tenants more choice when choosing where to purchase or rent, which becomes particularly important in a market where stock is limited.
It is however important to note that existing strata schemes will remain unchanged so the model by-laws will affect new strata schemes. It is also worth noting that a developer may choose not to follow the model in favour of their own by-laws which could effectively result in a block being a pet free zone.
Cigarette smoke drift from balconies will not be tolerated, after a warning and tribunal mediation repeat smoke drift offenders may receive fines up to $1100.
The issue surrounding the installation of floor boards, tiles or alternate “noisy” floor coverings will be addressed before installation rather than after as is now often the case.
Another welcome proposed change will be a ban on proxy harvesting to prevent one owner holding a majority of votes using absentee owners proxy votes at meetings, and the inclusion of technology based voting through teleconferencing etc will create more transparency as schemes conduct their business.
We will keep you informed in the new year when these reforms are finalised.
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