Market update O C TO B E R 2 0 2 2 Courtesy of Adam McKay Ray White Upper North Shore
Following a record breaking few years for Sydney real estate, the property market has moved to a period of stabilisation. Increasing interest rates and higher inflation has applied some downward pressure on the market, however the always in demand and resilient Upper North Shore is still performing well with some standout results, particularly in Turramurra and Warrawee. After some initial panic over interest rates, things have calmed, and we are seeing days on the market are decreasing and there are excellent numbers of buyers at both open houses and auctions. We are now entering the traditional busy Spring season where sellers take advantage of the warmer days, gardens are blooming and stock levels increase. Although interest rates are continuing their upward momentum, people are realising that this is not doom and gloom, and there are already some signs that the pace of inflation may be declining. As the market reaches a more balanced state, it is evident that the auction process is still garnering the best results. On average, properties sold through the Ray White Group via the auction method are selling 11 days quicker than those by private treaty with prices being 11% higher than any offers given prior to auction. Highlights from this quarter: • Ray White Upper North Shore recently won the prestigious Ray White No.1 International Business award which is a testament to the hard work of our team and the commitment of our community. • The success of an auction program is strong with good buyer numbers providing competition at auctions and the auction clearance rate up • The demand for luxury new build homes is still high, with these properties garnering instant and excellent attention and outstanding sales prices. Likewise, the demand for good sites for a rebuild is high, with quality properties selling quickly • Post lockdowns and with the community returning to a more ‘normal’ way of life, home offices in a property are still a requirement with many workers splitting time in the office with time at home. If you are considering selling in the near future, I would love to hear from you. Myself, and Ray White Upper North Shore have the expertise and thorough understanding of the local area and current market fluctuations to provide an outstanding service and result. Please call me today on 0412133173 to discuss. Adam McKay 0412 133 173 adam.mckay@raywhite.com WHAT’S HAPPENING IN OUR MARKET?
Source: Pricefinder 1 July 2022 – 30 September 2022 FAST FACTS JULY – SEPTEMBER 2022 1 July – 30 September 2022 1 July – 30 September 2021 HOUSES UNITS 2022 2021 2022 2021 TURRAMURRA 47 51 28 42 WARRAWEE 3 8 8 14 1. NUMBER OF SALES HOUSES UNITS 2022 2021 2022 2021 TURRAMURRA $2,500,000 $2,980,000 $960,000 $935,000 WARRAWEE $2,450,000 $5,648,000 $1,000,000 $1,012,500 2. MEDIAN SALES PRICE HOUSES UNITS 2022 2021 2022 2021 TURRAMURRA $3,007,660 $3,028,006 $1,020,786 $1,101,595 WARRAWEE $2,190,333 $5,762,000 $829,688 $1,236,651 3. AVERAGE SALES PRICE HOUSES UNITS TURRAMURRA 49 Ku-Ring-Gai Avenue $11,200,000 3/279-281 Bobbin Head Rd $1,750,000 WARRAWEE 4 Crescent Close Price Undisclosed 4/1359 Pacific Highway $1,510,000 4. HIGHEST SALES
A SELECTION OF ADAM’S RECENT SALES 21 Surrey Road, Turramurra 27 Braeside Street, Wahroonga 2/9 Telegraph Road, Pymble 21 Katina Street, Turramurra 11 The Chase Road Turramurra 22 Alice Street, Turramurra SOLD $2,500,000 SOLD $13,030,000 SOLD $2,200,000 SOLD $6,450,000 SOLD $6,228,000 SOLD $5,950,000 2 4 4 6 4 2 2 3 5 2 5 4 2 5 4 2 5 3 771sqm 2484sqm 416sqm 874sqm 911sqm 997sqm STREET RECORD HOMESTEAD RECORD AUCTION RECORD STREET RECORD
ADAM MCKAY TURRAMURRA & WARRAWEE SPECIALIST Over the past 12 months, Adam McKay from Ray White Upper North Shore has cemented himself as an East Side Turramurra and Warrawee specialist. Here are some of his sales statistics: His average sale price is $4,580,000 with sales ranging from $1,980,000 to $13,030,000. 80% of his sales are sold via Auction, and his average days on market is 21 days. The remaining 20% are sold either off market or via Private Treaty. Adam’s highest recorded sale price was $13,030,000 for 27 Braeside Street, Wahroonga. This home sold at auction and is the highest price ever achieved at auction on the Upper North Shore. This year Adam has also set new record prices for Meadowbank Homes and Homestead Homes Builders. He has also set multiple street records.
A WORD FROM MY CLIENTS Adam McKay 0412 133 173 adam.mckay@raywhite.com 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 | 9489 7474 | 9489 1961 Head Office: 2 Turramurra Avenue, Turramurra NSW 2074 45-47 Hunter Street Hornsby NSW 2077 ★★★★★ Honest and hard working “Thank you, Adam. Because of your honesty, hard work and professionalism we were able to achieve a record price for our project at Turramurra. We found the way you work and how you dealt with us and potential purchasers to be nothing other than perfection and we thank you very much for that and the friendship we have built during this process So, we now look forward to working together on another project soon.” SELLER OF HOUSE IN TURRAMURRA ★★★★★ Impressed! “I am so impressed and satisfied with the whole sale process of my property. You are a professional, patient, and friendly communicator. You conducted a great sales campaign. Thank you.” SELLER OF HOUSE IN TURRAMURRA ★★★★★ Amazing realtor! “Adam was an amazing realtor from start to finish. He worked very hard to meet our needs and made sure everyone was in the loop. Everything he did was above and beyond what was asked. I can only say that if you are looking for a strategic wise agent then look no further as the whole experience will leave you wiser and happier. I have been dealing in the market frequently and am fairly well versed with expectations and requirements, but somehow I got to learn so much from Adam and his amazing approach which leaves both the seller and buyer most satisfied. The best way I can describe him is “Class Act”. Thanks again Adam and team for putting such a big smile on our faces.“ SELLER OF HOUSE IN TURRAMURRA
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