End of financial year report JUNE 2023 Courtesy of Eddie Yiu, Ray White Upper North Shore
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. Eddie Yiu 0416 128 229 eddie.yiu@raywhite.com WHAT’S HAPPENING IN OUR MARKET?
FAST FACTS Source: Pricefinder 2023 1. NUMBER OF SALES HORNSBY 75% 5. AUCTION CLEARANCE RATE (LAST 6 MONTHS) 4. HIGHEST SALE PRICE 2. MEDIAN SALE PRICE 3. AVERAGE SALE PRICE HOUSE UNIT Q2 2023 Q2 2022 Q2 2023 Q2 2022 HORNSBY 22 29 65 80 HOUSE UNIT Q2 2023 Q2 2022 Q2 2023 Q2 2022 HORNSBY $1,694,900 $1,780,000 $681,000 $676,000 HOUSE UNIT Q2 2023 Q2 2022 Q2 2023 Q2 2022 HORNSBY $1,700,855 $1,937,017 $734,669 $714,069 HOUSE UNIT Q2 2023 Q2 2022 Q2 2023 Q2 2022 HORNSBY $2,445,000 $3,925,000 $1,610,000 $2,100,000 Q2 (April-June) 2023 Q2 (April-June) 2022
HIGHLIGHT SALES BY EDDIE YIU 73 Balmoral Street, Waitara 4 Bushlands Avenue, Hornsby Heights 902/135 Pacific Highway, Hornsby 2F Clovelly Road, Hornsby 2/29 Hall Road, Hornsby 214/135 Pacific Highway, Hornsby 35 William Street, Hornsby 1/29 Forbes Street, Hornsby 614/135 Pacific Highway, Hornsby $2,660,000 BY AUCTION $1,650,000 BY AUCTION $750,000 BY PRIVATE TREATY $1,900,000 BY AUCTION $1,410,000 BY AUCTION $760,000 BY PRIVATE TREATY $1,800,000 BY AUCTION $1,310,000 BY AUCTION $770,000 BY PRIVATE TREATY
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
★★★★★ Approachable and friendly “Eddie was very easy to work with. He was prompt with contact, kept lines of communication open, and was clear and helpful with regards to any of our questions. We were very happy to have Eddie sell our home.” SARAH, 2/29 HALL RD, HORNSBY ★★★★★ The only agent we would use! “Eddie sold our last two properties and we’ve found him the best agent in the Hornsby area when it comes to selling. This time around we had no hesitation in using him again. He delivered the exact service we expected, and the unexpected, good result, in just two weeks. Eddie is on another level compared to other agents we came across in the area. He always answered our late night calls and on his day off, so patient, listened to our concerns, and even went extra miles to help our home loan application with our bank on his day off. We have no hesitation to use him again in the future when we are selling.” MICHAEL, 28/9-11 AMOR ST, ASQUITH ★★★★★ Eddie is an accountable agent “Thanks Eddie for your help during our property search journey. Eddie was very helpful and gave us a lot of advice and did not push us to buy. After a few months with Eddie, we finally settled down. Thanks Eddie!” ANNAH, 1/29 FORBES ST, HORNSBY ★★★★★ Great experience “Eddie has been very helpful and easy to interact with during the whole process. He showed us the property at our request even when he was on holiday. As we were first time home buyers Eddie was patient in explaining the end to end process to us and has been excellent in terms of responsiveness whenever we reached out to him. He has been a pleasure to deal with.” SUBHABRATA, 902/135 PACIFIC HIGHWAY, HORNSBY 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 Head Office: 2 Turramurra Avenue, Turramurra NSW 2074 45-47 Hunter Street Hornsby NSW 2077 1 Hillcrest Road Pennant Hills NSW 2120 A WORD FROM MY CLIENTS Eddie Yiu 0416 128 229 eddie.yiu@raywhite.com
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