Market update JULY – SEPTEMBER 2023 Courtesy of Jessica Cao Ray White Upper North Shore
As we head towards the end of the year, the Upper North Shore property market is showing signs of both resilience and change. Forecasts indicate that while home values are set to increase by an estimated 3% to 10% by the end of 2023, the growth trajectory is expected to shift in 2024, with a noticeable moderation of both house and unit prices. Unsurprisingly, several of the major banks recently revised their predictions in response to the evolving market conditions. The National Australia Bank (NAB) initially projected a 4% decrease in home values by the end of 2023, but their most recent update presents a more positive perspective, forecasting an expected increase of 4.7% in home values by year-end. This revision underscores the market’s continued strength and adaptability. WELCOME TO MY LATEST MARKET UPDATE Factors driving market dynamics Despite challenges such as rising living costs and ongoing uncertainty around interest rates, the Upper North Shore’s property market remains robust. Throughout spring we anticipate heightened market activity due to: Increased listings: sellers are gearing up with a ‘sell before Christmas’ mindset, leading to a surge in property listings. Growing demand: buyers, both locally and through international migration, are entering the market, further fueling demand. Faster sales: typically, warmer months see shorter ‘days on market’, implying that properties are selling faster. This puts pressure on investors and homebuyers to act swiftly to secure desirable properties. Auction surge: spring is renowned for its increased auction activity. Nicer weather draws spectators, creating an exciting atmosphere that can help drive higher prices. The property market is undergoing a dynamic transformation, with potential for growth and heightened activity in the months ahead. Investors and homebuyers should prepare to act swiftly to secure their desired properties. If you’re considering selling, I’d be delighted to discuss my team’s tailored marketing strategies and results that consistently surpass the expectations of our clients. I look forward to speaking with you. Jessica Cao 0466 877 260 jessica.cao@raywhite.com
FAST FACTS East Killara & East Lindfield Source: Pricefinder 1. HOUSE JULY - SEPTEMBER 2023 JULY - SEPTEMBER 2022 EAST KILLARA 7 9 EAST LINDFIELD 9 4 NUMBER OF SALES EAST LINDFIELD 70.6% EAST KILLARA 61.5% 5. AUCTION CLEARANCE RATE (LAST 6 MONTHS) HOUSE JULY - SEPTEMBER 2023 JULY - SEPTEMBER 2022 EAST KILLARA $3,550,000 $3,800,000 EAST LINDFIELD $3,172,500 $3,985,000 2. MEDIAN SALE PRICE 4. HIGHEST SALE PRICE HOUSE JULY - SEPTEMBER 2023 JULY - SEPTEMBER 2022 EAST KILLARA $5,850,000 $8,680,000 EAST LINDFIELD $7,950,000 $4,400,000 HOUSE JULY - SEPTEMBER 2023 JULY - SEPTEMBER 2022 EAST KILLARA $4,046,875 $4,525,000 EAST LINDFIELD $3,780,833 $3,872,500 3. AVERAGE SALE PRICE
Sale Date Address Area sqm Bed Bath Car Sale Price EAST KILLARA 13/09/2023 31 Barrie Street 837 5 2 2 $3,600,000 09/09/2023 32 Fairlight Avenue 1,391 4 2 4 $3,400,000 17/08/2023 65 Barrie Street 1,024 5 3 2 $3,625,000 25/08/2023 131 Springdale Road 1,012 5 5 2 $5,500,000 19/08/2023 2 Jindalee Place 835 5 3 2 $3,500,000 18/08/2023 12 Savoy Avenue 1,565 6 4 2 $5,850,000 14/08/2023 5 Warrington Avenue 835 5 3 2 $3,500,000 EAST LINDFIELD 30/09/2023 181 Tryon Road 1,733 6 5 4 $7,950,000 21/09/2023 43 Sylvan Avenue 841 4 2 2 $2,480,000 07/09/2023 12 Crana Avenue 847 5 3 2 $3,295,000 16/09/2023 28 Canberra Crescent 1,002 5 4 3 $4,350,000 14/09/2023 30 Perth Avenue 969 5 4 2 Undisclosed 14/09/2023 78 Robinson Street 855 5 2 2 $3,080,000 26/08/2023 17 Damour Avenue 1,024 3 2 2 $2,490,000 12/08/2023 97 Tryon Road 971 3 1 1 $3,420,000 22/07/2023 26 Sylvan Avenue 841 4 3 2 $3,050,000 EAST KILLARA & EAST LINDFIELD SALES 1 July - 30 September 2023
HIGHLIGHT SALES BY JESSICA CAO BLOCK RECORD SUBURB RECORD STREET RECORD $1,675,000 $1,970,000 $2,480,000 $950,000 $3,510,000 $4,330,000 $3,500,000 $3,800,000 4 2 3 2 2 1 6 3 2 3 3 2 5 3 2 Land 4 2 3 2 2 1 56 Eddy Road, Chatswood 18/5 Milray Street, Lindfield 3 Warrabri Place, West Pymble 404/3 Victoria Street, Roseville 2 Jindalee Place, East Killara 90 Babbage Road, Roseville Chase 72 Grosvenor Road, Lindfield 211/6 Shout Ridge, Lindfield Sold 16 September 23 Sold 26 August 23 Sold 15 July 23 Sold 22 July 23 Sold 29 August 23 Sold 20 July 23 Sold 6 July 23 Sold 15 July 23
We would like to treat you to a Friday morning coffee in your favourite local cafe. Please come and say hello! Totally OK if you don’t feel like a chat too. East Lindfield Dukes Green Cafe Thursday, 19 October 2023 | 9:00am - 11:00am East Killara KillaBrew Coffee, Killara Bakery and Groceries Thursday, 16 November 2023 | 9:00am - 11:00am Roseville Chase Echo on the Marina Roseville Thursday, 30 November 2023 | 9:00am - 11:00am COME HAVE A COFFEE ON US
LIVE LOCAL, LOVE LOCAL Q: H i Kat and Brad, welcome to East Lindfield! Please tell us a little about yourself and the business? A: Our family has been doing this for 50 years, mum and dad used to have deli shops in Beecroft, Eastwood, Castlecrag and then back to Beecroft where the family ran the shop for 35 years. Kat started working in the family business 23 years ago and took over in 2008. We both love cooking and food and we are very passionate about the business. Q: What brought you to East Lindfield then? A: The building in Beecroft where our shop was was getting knocked down so we needed a new home. We saw this opportunity in East Lindfield and we decided to take it. We never came to East Lindfield before but now we love it here. Kat’s dad tried to buy the old deli here years ago and this was always his dream location. Now we have our loyal customers coming all the way from Beecroft to support our business. Q: What would you recommend to a first time customer? A: That’s such a hard question to answer! Our homemade quiche is our signature. We also marinate our own olives, artichokes and mushrooms. We cook our own roast beef, turkey breasts, soups and pasta sauce. Please also try our gourmet chocolate, jam and ice cream. We have a lot of things for Christmas as well. East Village Providores 6/11 Hughes Place, East Lindfield NSW 2070 9416 3457 | consvillagedeli@bigpond.com Monday to Friday 9:00am - 6:00pm | Saturday 8:00am - 2:00pm | Sunday closed Q&A with Kat and Brad from East Village Providores
A WORD FROM MY CLIENTS Jessica Cao 0466 877 260 jessica.cao@raywhite.com Experience & focus Throughout the process, Jessica and her team were responsive with daily updates on the market and potential buyers. Even though the market changed unexpectedly during the campaign she was able to provide the experience, focus and execution of different strategies to ensure that on auction day we could achieve the best outcome. Overall, very happy with the results and it’s all thanks to Jessica and her team. VENDOR REVIEW – 56 EDDY ROAD, CHATSWOOD A true professional Jessica is a true professional. She is a straight talker, knows the market well and worked with us to develop the best strategy for bringing our house to market and getting a price above our expectations. Selling a house is always stressful but Jessica and her team made it as seamless as possible. She kept us well informed every step of the way and swiftly responded to any concerns or queries. I would highly recommend her as an agent for top notch service and great results. VENDOR REVIEW – 38 ROBINSON STREET, EAST LINDFIELD Beyond expectation From the first meeting to our auction in West Pymble, Jessica and her team were extremely professional and delivered an amazing result. Jessica was refreshing compared to other agents. She was realistic in her appraisal yet delivered beyond our expectation. Jessica has attention to detail, responsive communications,making a stressful situation less so. We trusted her judgement calls throughout the campaign and she was right every time. Thanks to the rest of the team Lyndon and Tom! VENDOR REVIEW – 3 WARRABRI PLACE, WEST PYMBLE 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 | (02) 9449 9066 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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