Holmes ST Clair

1 QuarterlyMarket Update 2020 Lower North Shore holmesstclair.com | 8964 8880 Market Update 2023 Lower North Shore

Market Update 2023 2 Sean St. Clair Principal 8964 8880 | 0410 506 661 sean@holmesstclair.com Robert Holmes Director 8964 8880 | 0400 323 828 robert@holmesstclair.com Dire tor Market update 2023 is well and truly underway. So where to from here in Sydney's multi trillion dollar residential housing market? Discussion continues to circulate around local home values and what impact future interest rate movement will have on Sydney's property market. Inflation continues to be a key driver in these rate increases with a host of other factors playing a role. The war in eastern Europe, the post pandemic recovery, the federal election and change of government, the lady down the road who put her house up for sale but it didn't find a buyer, or the property up the road where the agent gloats a building record... and so the list goes on! What we can take away from all this, is that yes, there is market vulnerability out there, and this is likely to hang around for the duration of 2023 as the market finds its feet. However, in the same breath, we feel that the market is moving forward and we can see this from the housing stock levels clearing out and finding buyers. Today, on the Lower North Shore, there are few repeat or expired listings entering the market, where this is showing us that the vendors expectations and prospective buyers offers are aligning and transactions are occurring. To us as real estate agents, this is a sign that good buying new property cycle is around the corner. Of course, many people will continue to sit on the sidelines and spectate or try to precisely time the best time to buy in, but as we saw the market drop quickly, expect the rebound to be just as fast on the other side, so don't leave your run too late! All it takes is a few weeks of strong sales across housing markets and media commentary will put a positive spin on this, where we will see buyers move in and drive the market back up. So we pose the question, does it really matter if the market drops another 1,2 or 3% in the short term? as the capital growth over the life of ownership has proven to far outweigh any short term correction. In terms of new opportunities we have coming to the market, we have some amazing properties that will hit the market with our agency early in the year - 3 bedroom apartments in Waverton, Townhouses in Wollstonecraft, Investment and first home buyer opportunities in Mosman, Bondi Junction and Wollstonecraft to name a few. Keep an eye out on our website, and we look forward to meeting you at our open homes and auctions shortly! Contact Us As always, our team is available and very happy to provide advice with any selling, purchasing and rental requirements you may have. Feel welcome to reach out if we can be of assistance. Our offices are conveniently located at 38 Willoughby Road, Crows Nest. We look forward to hearing from you.

Market Update 2023 3 Our successful client reviews Testimonials "Sean and his team were enthusiastic, honest, and extremely helpful with every aspect in selling our property. They have been very thorough with the entire coordination and professionalism through their services. He gave us feedback after each open home which is what anxious vendors want. He has great market knowledge and worked very hard to achieve the best price. We will definitely use Sean for our other properties and recommend him to anyone. " Vendor of 3/386 Mowbray Rd Lane Cove "I was so pleased with Robert's excellent services. he has an in-depth understanding of the local market and provided excellent strategies to market my property. He always got my concern addressed with solutions. Very happy with Robert's work. I definitely recommend Robert and his team to my friends who are looking to sell their properties. " Vendor of 3H/16 King Street Waverton

Market Update 2023 4 3H/16 King St, Waverton Confidential Thinking of selling? Selection of our recent sales L M N 3 2 2 SOLD 1 1 1 3/386 Mowbray Rd, Lane Cove $645,000 L M N SOLD 8D/22 King St, Waverton $2,000,000 L M N 2 2 1 SOLD 3 2 2 16/1-11 Bridge End, Wollstonecraft $3,100,000 L M N SOLD 4B/26 Ross St, Waverton $3,060,000 L M N 3 2 2 SOLD 2E/12 King St, Waverton $2,315,000 L M N 3 2 2 SOLD 7A/8 Gas Works Rd, Wollstonecraft $3,080,000 L M N 3 2 3 SOLD 3 2 2 6B/22 King St, Waverton $3,170,000 L M N SOLD

Market Update 2023 5 44/10-18 Hume St, Wollstonecraft $1,050,000 Thinking of selling? Selection of our recent sales L M N 2 1 1 SOLD 2 2 1 2/52 Eastern Valley Way, N'Bridge $1,222,500 L M N SOLD 14/2 Lamont St, Wollstonecraft $1,850,000 L M N 3 2 1 SOLD 3 2 1 1/35 Milray Ave, Wollstonecraft $1,630,000 L M N SOLD 10/17 Bridge End, Wollstonecraft $975,000 L M N 2 1 1 SOLD 14/10 Brook St, Crows Nest $700,000 L M N 1 1 1 SOLD 2/384 Mowbray Rd, Lane Cove $780,000 L M N 2 1 1 SOLD 3 2 2 34/1-11 Bridge End, Wollstonecraft $2,625,000 L M N SOLD

Market Update 2023 6 Property in focus 30-32 Julian Street, Mosman Cloudbreak is one of Mosman's finest properties commanding a vast North facing waterfront block looking into Middle Harbour and Quakers Hat Bay. This stunning Corben architect designed house leaves nothing to chance and offers the opportunity to reside in one of the most exclusive enclaves Sydney has to offer. Leased after one inspection for $7,500 per week making it one of the Lower North Shore's highest residential rental homes. The owner of the home was particularly interested in our ability to work exclusively with Sydney's top relocation agents to source high net worth clients to their homes. Leased | $7,500 per week Relocation agent network Highest rental on Lower North Shore Leased after 1 private inspection Relocating from London 4 bed | 5 bath | 3 car LEASED

Market Update 2023 7 Property in focus 3H/16 King St, Waverton This lovely apartment attracted interest from young families, professionals and active downsizers. This property has a versatile 3 bedroom layout that is accessed by stairs and parking for 2 cars. We continue to field excellent buyer inquiries for prestige apartments in the immediate area, particularly from downsizers looking for a harbour side address close to transport, cafes and a strong sense of community. Something the Wondakiah estate offers in droves. Sold | Confidential Sale negotiated post auction 84 buyer inspections 6 contracts issued 289 buyer inquiries 3 bed | 2 bath | 2 car SOLD

Market Update 2023 8 30-32 Julian St, Mosman $7,500 per week Outstanding results for our clients Recently leased properties L M N 4 5 3 LEASED 2 2 1 305/143 West St, Crows Nest $1,000 per week L M N LEASED 106/72 Chandos St, St Leonards $630 per week L M N 1 1 1 LEASED 3 2 2 8/1 Boronia St, Wollstonecraft $950 per week L M N LEASED 6/1A Hazelbank Rd, Wollstonecraft $1,200 per week L M N 3 2 2 LEASED 54/78 Alexander St, Crows Nest $560 per week L M N 1 1 1 LEASED 12/17 Bridge End, Wollstonecraft $610 per week L M N 2 1 1 LEASED 1 1 1 206/8 Taylors Lane, Lane Cove $610 per week L M N LEASED

Market Update 2023 9 1/31 Sutherland St, Cremorne $695 per week Outstanding results for our clients Recently leased properties L M N 2 1 1 LEASED 2 1 1 10/1 Milner Cres, Wollstonecraft $685 per week L M N LEASED 11/55 Garland Rd, Naremburn $1,450 per week L M N 3 2 2 LEASED 2 1 1 13/7-9 Morton St, Wollstonecraft $750 per week L M N LEASED 16/3-9 Lamont St, Wollstonecraft $895 per week L M N 3 2 2 LEASED 10/37 Gillies St, Wollstonecraft $1,000 per week L M N 3 2 2 LEASED 607/34 Oxley St, Crows Nest $850 per week L M N 2 2 1 LEASED 1 1 1 1/1 Belmont Ave, Wollstonecraft $570 per week L M N LEASED

Market Update 2023 10 'rent bidding' in the media. Here's our perspective: Many prospective tenants will place a higher rental figure on their application than the asking rate. This is not something we encourage, but it's understandable. After weeks on end of inspecting rental properties, applying for them and being turned down, they offer to pay more in an effort to encourage the owner to accept their application over others. is it wrong? No. Does it work? Yes. So far, the outlook this year is modest. The lower North Shore and Sydney Metro area is a safe haven for investors. In a tricky market, it tends to weather most storms while also allowing astute investors from outer areas the opportunity to buy in. If you'd like to discuss your 2023 property investment plan, please get in touch. 2023 is off to a very busy start with our portfolio representing a very tidy 0.05% vacancy. This is very close to the Sydney Metro vacancy rate of 1.5%. A huge change in only 6 months. After our team has conducted open homes this year we have seen strong demand from international arrivals. A significant amount of people coming from overseas has been noticed at all our inspections across Sydney. In the past 6-12 months it's now fair to say that rental returns are up 10%. We have been conducting a large volume of rent reviews in line with renovations to assist our investors with increasing their rental yields to help pay for the ongoing rate rises. You might have heard about the issue of Property management update A note to our valued property investors

Market Update 2023 11 Your market results (Oct 22 - Jan 23) Lower North Shore Total Sales Value $15,300,001 Highest Price House $2,970,000 Highest Price Apartment $1,287,500 How many properties sold 13 Auction Clearance Rate 45% Crows Nest Total Sales Value $35,540,077 Highest Price House $5,120,000 Highest Price Apartment $1,760,077 How many properties sold 29 Auction Clearance Rate 48% Greenwich North Sydney Total Sales Value $70,849,002 Highest Price House $2,350,000 Highest Price Apartment $4,200,000 How many properties sold 66 Auction Clearance Rate 58% St Leonards Total Sales Value $77,388,601 Highest Price House $1,956,000 Highest Price Apartment $4,200,000 How many properties sold 70 Auction Clearance Rate 53% Waverton Total Sales Value $18,272,500 Highest Price House $3,205,000 Highest Price Apartment $2,100,000 How many properties sold 13 Auction Clearance Rate 60% Wollstonecraft Total Sales Value $56,909,051 Highest Price House $4,275,000 Highest Price Apartment $2,400,000 How many properties sold 44 Auction Clearance Rate 58%

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