Market update J U LY 2 0 2 2 Courtesy of James Levy Ray White Upper North Shore
As always, the property market continues to be a point of discussion. Many people have their own thoughts and now more than ever, there are quite a few conflicting views and predictions. These various opinions are very much dictated by the recent increases in interest rates. Having worked in the industry for over 20 years, I personally, like many, still see the interest rate level to still be low. Furthermore, I always expected they were going to increase, they could never stay at their record low levels. The key issue for many is whether mortgage holders have factored in the potential increases when they obtained their finance at these low levels. Despite the constant barrage of negative media attention, the positive in the market is that there is a short supply of property. Typically listing levels reduce in winter because of weather, 2 and 3 week school holidays, but supply is reduced even more so this year. This has assisted in reducing declining prices in our area as reported in some areas of Sydney. As we have seen in previous uncertain markets, like the GFC, the Upper North Shore continues to hold values at a high level compared with other areas of Sydney. Naturally, interest rate increases have affected the borrowing power of some of our buyers, however, buyer numbers are still strong, with finance ready to commit. Some purchasers are eager to also buy before their current finance approvals expire – there is nothing better than working with a purchaser who has a genuine need to purchase. Irrespective of the market movements, life continues - upsizing, downsizing, interstate moves, job changes requiring logistic moves, family dynamics changing - people will still sell and people still need to purchase. We continue seeing many buyers enter the St Ives market for the first time, from other suburbs of Sydney or upsize within St Ives or the North Shore. There is still an increase in the amount of overseas buyers looking to buy compared to 12 months ago. Renovated and newly-built homes have always been popular, but we are finding that as building materials have become more expensive and harder to lock in trades, the desire for a fully renovated property is stronger than ever. Having worked in all markets over the past 20 plus years, I am used to changing market conditions and experiences in all market dynamics. Change doesn’t daunt me, in fact, it excites me and many people looking to buy or sell see it as a time for opportunity. As always, if you would like to chat about your property needs and goals, please don’t hesitate contacting me at any stage for a discussion. James Levy 0414 474 868 | james.levy@raywhite.com JAMES’ MARKET COMMENTARY
Source: Pricefinder 1 April – 30 June 2022 HOUSE UNIT FAST FACTS ST IVES 1. NUMBER OF SALES 77 109 37 65 2. MEDIAN SALES PRICE $2,560,000 $2,600,000 $948,000 $1,000,000 3. AVERAGE SALES PRICE $2,687,565 $2,654,503 $1,081,078 $1,107,446 April - June 2022 April - June 2021 4. HIGHEST SALE PRICE 2 Lancaster Avenue 5/8 Collins Road St Ives $6,200,000 $3,000,000
HIGHLIGHT SALES BY JAMES LEVY 30 Burdekin Crescent, St Ives 7 Hawley Close, St Ives 121A Killeaton Street, St Ives 3 Woodvale Close, St Ives 14 Delaware Avenue, St Ives 4 Scott Place, St Ives 9 Priory Close, St Ives 16 Cassandra Avenue, St Ives 4 Carcoola Road, St Ives 24 Yarrabung Road, St Ives SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD
RESULTS SPEAK FOR THEMSELVES Ray White Upper North Shore sells more properties in St Ives than any other agency Here’s the proof. raywhiteuppernorthshore.com.au Based on data from Domain .com.au 1 January 2022 – 30 June 2022 25 3 4 6 7 10 4 38 Competitors Ray White Ray White Upper North Shore sells more properties in Ku-ring-gai than any other agency Here’s the proof. raywhiteuppernorthshore.com.au Based on data from Domain .com.au 1 January 2022 – 30 June 2022 79 57 57 70 235 Competitors Ray White
Exceeded all of our expectations “James (and the team) exceeded all of our expectations from the first meeting. The ease at which the campaign and auction came together can be directly attributed to James and Alison’s diligence! James has an incredible knowledge of the north shore market and it couples brilliantly with his honest and warm approach with vendors and buyers. We were elated with the result and would highly recommend all future vendors contact James for an outstanding experience.” VENDOR REVIEW – 30 BURDEKIN CRES, ST IVES Highest of values and meticulous integrity “James is the epitome of representing his profession: trustworthy, reliable, honest. He is kind, listens to his clients, allowing them to feel comfortable, as he has their every concern and interest at heart. He communicated on a regular basis, and I felt totally updated. I hold him in the highest esteem and I would recommend him to act for anyone as their sincere and diligent agent.” VENDOR REVIEW – 121A KILLEATON STREET, ST IVES Thoroughly impressed “My husband and I were thoroughly impressed with the professional and personal attention that we received from James Levy, he always kept us up to date after each open-house, we actually looked forward to his summation at the end of the day and found his comments were helpful and encouraging, his positive attitude was very reassuring. We believe he went above and beyond for us to ensure the best possible outcome. We are more than happy to recommend James to anyone contemplating selling.” VENDOR REVIEW – 3 WOODVALE CLOSE, 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 | St Ives Office: 9646 2075 Head Office: 2 Turramurra Avenue, Turramurra NSW 2074 45-47 Hunter Street Hornsby NSW 2077 James Levy 0414 474 868 james.levy@raywhite.com A WORD FROM MY CLIENTS
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