St Ives Market Update Courtesy of Giuseppe Princi Ray White Upper North Shore
WHAT’S HAPPENING IN YOUR MARKET The Upper North Shore property market, known for its dynamic nature, broad appeal and investment potential, is rebounding after a period of uncertainty. This resurgence is bringing optimism to both sellers and buyers. What can you expect from the property market for the rest of 2023? Limited Stock: The scarcity of available properties has been a significant challenge across the Upper North Shore, with new listings in Sydney down 17% compared to the same period last year. While buyers are increasingly frustrated by the lack of options, sellers can benefit from this situation. The limited stock has resulted in intense competition for each property, as seen through a high number of registered bidders and the highest auction clearance rate since early 2021. Price Growth: The recovery of Sydney’s property market has been led by the premium segment, which encompasses the majority of the Upper North Shore. Data from CoreLogic reveals that the most expensive houses in the top quarter of the market are experiencing the fastest recovery. In the past three months, values in this segment have surged by 5.6%, outpacing the 2.6% increase in more affordable segments. Strong demand and limited supply have contributed to this upward trajectory. Upward Trend: Despite various challenges, including the aftermath of the COVID-19 pandemic, multiple interest rate hikes, low consumer confidence, negative media coverage, and stricter lending regulations, the property market has demonstrated remarkable resilience and is now in a positive phase. Contrary to predictions of significant price declines, the market has shown strength. Given the current supply-demand dynamics, the upward trend will likely continue until supply catches up with demand. This all presents an opportune time to sell. As the highest-selling real estate agency on the Upper North Shore, we meet more buyers than anyone else, providing a significant advantage in selling your property. If you are considering selling, I would be delighted to discuss how I can help you secure the highest price in the current market. Giuseppe Princi 0433 641 046 giuseppe.princi@raywhite.com
FAST FACTS Source: Pricefinder 2023 1. Q2 2023 Q2 2022 41 38 NUMBER OF SALES 62.1% 5. AUCTION CLEARANCE RATE (LAST 6 MONTHS) 2. MEDIAN SALE PRICE 4. HIGHEST SALE PRICE 3. AVERAGE SALE PRICE $962,000 $960,000 $1,183,341 $3,600,000 $1,304,129 $3,000,000 Q2 2023 Q2 2022 Q2 2023 Q2 2022 Q2 2023 Q2 2022
HIGHLIGHT SALES BY GIUSEPPE PRINCI & RAY WHITE UPPER NORTH SHORE 59/212-216 Mona Vale Road, St Ives 305/1-3 Sturt Place, St Ives 76/212-216 Mona Vale Road, St Ives 20/18 Shinfield Avenue, St Ives 302/126A Killeaton Street, St Ives 27/18 Shinfield Avenue, St Ives 24/132-138 Killeaton Street, St Ives 48/165-167 Rosedale Road, St Ives SOLD $635,000 SOLD $862,500 SOLD $658,000 SOLD $920,000 SOLD $750,000 SOLD $962,000 SOLD $800,000 SOLD Undisclosed
Sales Volume RAY WHITE UPPER NORTH SHORE CONSISTENTLY SELLS MORE PROPERTIES THAN ANY OTHER REAL ESTATE AGENCY ON THE UPPER NORTH SHORE Ray White Compe tor 1 Compe tor 2 Compe tor 3 Compe tor 4 Ray White Compe tor 1 Compe tor 2 Compe tor 3 Compe tor 4 Sales Value Source: CoreLogic Market Scorecard FY23. Upper North Shore defined as 2067-2082 (exc 2078), 2120, 2125, 2126. 600 400 200 0 $2,000,000,000 $1,500,000,000 $1,000,000,000 $500,000,000 $0
A WORD FROM MY CLIENTS Giuseppe Princi Sales 0433 641 046 giuseppe.princi@raywhite.com The perfect choice “Giuseppe and his team were the perfect choice to sell our unit. His experience and knowledge of the local market was evident at the first consultation. Giuseppe was highly professional and committed to getting the best price for us. Giuseppe’s calm approach and marketing strategy achieved an amazing result and we highly recommend Team Princi.” VENDOR REVIEW - ST IVES On the ball “Giuseppe was great, knowledgeable, professional, and on the ball. We’d have absolutely no hesitation using him to sell our properties in the future and would recommend him to anyone else looking to sell property in St Ives.” VENDOR REVIEW - ST IVES Great insights “It was a pleasure working with Giuseppe, his extensive knowledge of the local market and his vast experience shows when dealing with him. He communicated the sales strategy clearly at the start, which played out exactly as planned. He also provided great guidance and insights throughout the sales process, making it easier for us to make decisions along the way.” VENDOR REVIEW – ST IVES Highly competent “Giuseppe Princi is a genuine real estate professional. He exhibited a high level of competence and diligence throughout the whole sale process. I’d definitely come back to him for another sale. Let’s not forget his amazing team as well!” VENDOR REVIEW – ST IVES 39 Hill Street Roseville NSW 2069 18 Railway Avenue Wahroonga NSW 2076 Shop 2, 237 Mona Vale Road St Ives NSW 2075 raywhiteuppernorthshore.com.au Ray White Upper North Shore Head Office: 2 Turramurra Avenue, Turramurra NSW 2074 45-47 Hunter Street Hornsby NSW 2077 1 Hillcrest Road Pennant Hills NSW 2120
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