Quarterly review APRIL – JUNE 2023 Courtesy of Jessica Cao 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. Jessica Cao 0466 877 260 jessica.cao@raywhite.com WELCOME TO MY LATEST MARKET UPDATE
FAST FACTS Roseville Chase Source: Pricefinder 1. HOUSE APRIL - JUNE 2023 APRIL - JUNE 2022 ROSEVILLE CHASE 3 7 NUMBER OF SALES HOUSE APRIL - JUNE 2023 APRIL - JUNE 2022 ROSEVILLE CHASE $3,100,000 $3,052,000 2. MEDIAN SALE PRICE 4. HIGHEST SALE PRICE HOUSE APRIL - JUNE 2023 APRIL - JUNE 2022 ROSEVILLE CHASE $3,900,000 $5,075,000 HOUSE APRIL - JUNE 2023 APRIL - JUNE 2022 ROSEVILLE CHASE $3,103,333 $3,187,000 3. AVERAGE SALE PRICE Sale Date Address Area sqm Bed Bath Car Sale Price 27/05/2023 15 Rowe Street 759 sqm 5 2 2 $3,900,000 24/05/2023 11 Allard Avenue 873 sqm 5 2 2 $3,100,000 20/05/2023 41 Babbage Road 727 sqm 4 2 2 $2,310,000
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
GROWING FOOD IN YOUR OWN BACKYARD Growing your own food is easier than most people think, and it can be done in your very own backyard, patio, windowsill, or garden bed. We chatted to Brendan Condon, director of the sustainability minded Biofilta, a foodcube wicking bed garden manufacturer. Biofilta are committed to unlocking the food growing potential of our urban spaces. The benefits to growing a produce garden in your own home are endless and with it becoming easier to do, especially in small spaces, now is the time. Start your growing journey and get stuck in! How to get started? Test your soil. Soil in urban areas has a tendency to be devoid of nutrients. There are several ways to test this, but the easiest one is to use a home testing kit that you can get from your local garden centre. If your soil is not fit for growing plants, you will need to do a bit of work – composting, new soil, and various additives will all do the trick. Set up your garden bed If you don’t have a garden or patch of useable soil, do not fear. There are plenty of options available. Mr Condon says that Biofilta have developed just the thing for small, efficient urban gardeners – the foodcube! “They’re up off the ground, they’re economic. You only need to water them once a week during summer and maybe once a month during winter,” he says. Use your compost! Compost is a great way to add nutrition to your soil as it produces food and it greatly reduces your landfill contribution. “You’re creating a circular nutrient loop which is what nature does, and you’re setting your garden up for long term success,” Mr Condon says. Plant seasonally and geographically The best way to ensure a thriving garden is to plant food that is suited to your climate and location. For example, the food you might grow in a Tasmanian summer would be different to what you would grow in a Darwin summer. “We are in that period of time where we’re growing a whole range of different types of heritage tomatoes, they’re all ripening up and there are so many,” Mr Condon notes. Having a beautiful, thriving, and well-designed water efficient garden adds value to your home, adds quality to your life and improves your health. BRENDAN CONDON
At Made Home we provide a brilliant and comprehensive transition service. From the moment you consider buying or selling, to the moment you are completely comfy in your new home, we are there every step. We remove the worry at every stage to make a stressful season actually enjoyable. If you want, you don’t have to lift a finger or you can be completely engaged in the process. From decluttering and sale preparation, all the way through to bespoke packing and unpacking services, Made Home is the end to end offering. FROM SETTLEMENT TO SETTLED IN, WE’D LOVE TO HELP. www.madehome.com.au hello@madehome.com.au 0423 355 963 NEED SOME HELP PACKING AND MOVING?
A hallmark of our approach to working alongside you is the commitment and unique strengths of our team members. JESSICA CAO is our lead agent and brings her dedication, local knowledge, industry expertise and outstanding communication skills to make sure your property goals are achieved. LYNDON TOWNS is Jessica’s sales associate and is our man on the street. His enthusiasm and passion are evident in every interaction be it with homeowners, vendors or buyers. JULIE HWANG ensures your campaign runs smoothly and is the calming influence of the team facilitating all pre-sale preparations and is your contact for the administration of the marketing process. THE JESSICA CAO TEAM JULIE HWANG JESSICA CAO LYNDON TOWNS
A WORD FROM MY CLIENTS Jessica Cao 0466 877 260 jessica.cao@raywhite.com Wonderful professional Jessica was such a wonderful professional real estate agent. She was always so respectful but very strong with suggestions regarding the marketing of our house. We sold above the reserve price and were extremely happy. She was always contactable and answered our questions promptly. I would highly recommend her as an agent to sell any home. She took a lot of stress away from us and is just a lovely person as well as being a great agent! VENDOR REVIEW – BELINDA Professional and considerate I found Jessica professional and considerate with our needs, and she achieved a good price for the property. Her knowledge and skill in dealing with tradespeople and prospective buyers was a great advantage, as was her multilingual capability. Very happy vendor! VENDOR REVIEW – ANDREW Seamless & effective I would like to thank Jessica for all her assistance in the sale of our family home in Killara. She provided her professional advice on how to prepare the house for sale and how to run an effective auction campaign. Her team worked seamlessly together, she set the open home times best suited for the house, and she kept us updated all the time with buyer feedback. As a result, we sold our house at the auction. VENDOR REVIEW – JING 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) 7227 0030 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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