Market review APRIL - JUNE 2024 Courtesy of David Beveridge Ray White Upper North Shore
WELCOME TO YOUR LOCAL MARKET UPDATE The Upper North Shore property market remains strong despite varying economic conditions. As the leading real estate agency in the area, we are dedicated to keeping homeowners informed about trends affecting their properties. Market Dynamics The NAB Residential Property Index continued its growth in June, driven by a supply-demand imbalance that supports property price growth, despite high interest rates and economic pressures. Economic and Population Trends Australia’s population grew by 2.5% to 26.97 million last year, largely due to overseas migration, boosting housing demand across Greater Sydney. Although economic growth is expected to slow and unemployment may rise this year, the RBA is anticipated to ease interest rates from November, potentially lowering the cash rate to around 3% by late 2025. Property Market Performance Sydney’s housing market has increased in value for sixteen consecutive months, with the Upper North Shore maintaining high demand due to its desirable living conditions. We continue to see exceptionally strong auction clearance rates with no signs of the market slowing throughout the traditionally quieter winter months. Council’s Legal Action Against Housing Policy Ku-ring-gai Council is suing the Minns Government over its plans to build high-density apartment blocks near train stations. The government’s policy aims to address the housing crisis by increasing supply, including dual occupancies, terraces, townhouses, and mid-rise apartments near transport hubs. Mayor Sam Ngai acknowledges the need for more housing but believes a slower, more considered approach is necessary to address character and heritage concerns and ensure existing infrastructure can cope. The council argues these changes could harm heritage conservation, environmental sustainability, and infrastructure capacity. This legal battle underscores the tension between statedriven housing initiatives and local community concerns. We will be watching this closely as it unfolds. Outlook The Upper North Shore property market is expected to remain robust. The ongoing supply-demand imbalance, strong population growth, and potential interest rate easing bode well for property values and rental income. If you’re thinking of selling, please get in touch so I can show you how my team and I can maximise the value of your property. David Beveridge 0411 225 167 david.beveridge@raywhite.com
4. HIGHEST SALE PRICE 2. MEDIAN SALE PRICE 3. AVERAGE SALE PRICE FAST FACTS Source: Pricefinder 2024 1. NUMBER OF SALES HOUSES APRIL - JUNE 24 APRIL - JUNE 23 ST IVES 57 49 ST IVES CHASE 15 17 HOUSES APRIL - JUNE 24 APRIL - JUNE 23 ST IVES $3,014,160 $2,850,000 ST IVES CHASE $2,960,000 $3,380,000 HOUSES APRIL - JUNE 24 APRIL - JUNE 23 ST IVES $3,389,577 $3,188,812 ST IVES CHASE $3,190,200 $3,442,262 HOUSES APRIL - JUNE 24 APRIL - JUNE 23 ST IVES $6,505,000 $7,850,000 ST IVES CHASE $5,300,000 $6,020,000
RECENT SALES BY DAVID BEVERIDGE 16 Acron Road, St Ives 30 Hillcrest Drive St Ives 5 Tobruk Avenue, St Ives 19 Warrabina Avenue, St Ives 1/10 Hillcrest Drive, St Ives 2 Aurora Drive, St Ives 2 Stanley Close, St Ives 3 Hampden Avenue, Wahroonga 315 Mona Vale Road, St Ives 196 Warrimoo Avenue, St Ives NOT DISCLOSED SOLD $1,900,000 SOLD $3,150,000 SOLD $4,250,000 SOLD $1,715,000 SOLD $2,025,000 SOLD $2,510,000 SOLD $6,450,000 SOLD $1,950,000 NOT DISCLOSED 5 4.5 2 2 3 3 2 4.5 2 3 3 5 1.5 2 3 1 3 4 3 3 1 3 5 5 2 2 2 2 3 3
LIVE LOCAL, LOVE LOCAL Q: What attracted you to St Ives? A: I was drawn to St Ives by its unique blend of community spirit and natural beauty. St Ives is a wonderful place with a strong sense of community Q: How long has the pharmacy been operating, and when did you take ownership? A: The pharmacy has been a cornerstone of the community since the 1940s. I took ownership in February 2024, and I’m proud to continue its legacy of providing essential healthcare services to the residents of St Ives. Q: What are some of the most common requests or inquiries you receive? A: Common requests range from advice on managing allergies such as asthma, which are prevalent in this area and answering inquiries about vaccinations and general health supplements. We also get a lot of questions about skincare products, reflecting the active outdoor lifestyle of many St Ives residents. Q: What are some of the most popular products or services you provide? A: Prescriptions, Vaccinations, Professional Advice, Medication Packaging, Medication Reminders, Medication Delivery, Medication Reviews, Absence From Work Certificates , Blood Pressure Checks, Needle & Syringe Disposal,Return of Unwanted Medications, Parcel Point Pickup and Drop-off. These services are designed to meet the diverse needs of our community and ensure their health and well-being are always prioritised. Full details of our services and contact details can be found on our website. Opening Hours: Monday-Friday 8.30am-7pm | Saturday 9am-4pm www.stiveschasepharmacy.com.au St Ives Chase Pharmacy Pharmacist in Charge Alexander Phan | Pharmacists Mohamed El-Harris & Matthew Au
“David is a well known agent who was an absolute pleasure to work with. His high level of professionalism in the St Ives market was second to none. He guided me through the sales process with honesty and transparency. He went over and beyond what was needed and always provided guidance and feedback. He was extremely compassionate, approachable and understanding. His attitude, amazing team and local market knowledge made me feel confident and secure that he was the best for my family and I.” VAL NANAI - 315 MONA VALE ROAD, ST IVES “We were delighted with David’s service and found him to be professional and proactive. He gave plenty of data around recent sales, interested buyers and what to expect at each stage of the campaign. Communication was frequent, respectful and clear, plus we never felt pressured or coerced into any decision. David has a calm, strategic approach to selling and that reduces the anxiety for the seller and probably the buyer too! We had an excellent outcome with the property selling at auction.” ROBYN HEXT - 1/10 HILLCREST DRIVE, ST IVES “As we ventured into selling our home, David presented an honest and earnest approach and provided a great marketing strategy and accurate selling price range. He was most diligent and communicated with us during the whole process. I would recommend David without reservation as a diligent, honest and very professional agent who you can trust to best represent you for a great experience and maximising your sale price.” LINDA MEEK - 2 AURORA DRIVE, ST IVES A WORD FROM MY CLIENTS David Beveridge 0411 225 167 david.beveridge@raywhite.com 7 x RateMyAgent of the Year Winner Roseville 39 Hill Street Wahroonga 18 Railway Avenue St Ives 237 Mona Vale Road Hornsby 45-47 Hunter Street Pennant Hills 1 Hillcrest Road Ray White Upper North Shore Head Office: 2 Turramurra Avenue, Turramurra raywhiteuppernorthshore.com.au
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