Quarterly market review J U LY– S E P T EMB E R 2 0 2 2 Courtesy of David Walker Ray White Upper North Shore
Highlights from this quarter: • Top properties continue to achieve outstanding success. A recent example is 4 The Broadway Wahroonga which sold in just 6 days. In this short time, the property attracted 37 inspections, 12 contracts, 2 open homes and an exceptional $3.1 million sale price. • The success of our auction program remains strong with good buyer numbers providing competition and the auction clearance rate is up. • The demand for luxury new build homes is high, with these properties garnering outstanding sales prices. Good sites for rebuilds are also highly sought after. • Ray White Upper North Shore recently won the prestigious Ray White No.1 International Business award, a testament to the hard work of our team and the commitment of our community. Spring with its warm weather, flowers blooming and abundance of sunshine has always been the traditional ‘sell’ time in real estate. People are emerging from their caves after a cold winter and are looking for new beginnings or a ‘spring clean’. After years of supercharged growth, the market has gone through a change with sellers and buyers having to navigate a new middle ground. As we move into these prime selling months, the market appears to have stabilised with days on market are decreasing, good numbers of buyer activity at opens and auctions and excellent results being obtained. Although interest rates are continuing their upward momentum, there are some signs that the pace of inflation may be declining. Fuel prices have come back, supply chains are being re-established post lockdowns and slowing growth in the Chinese market are all having an impact. There are signs that interest rates may peak earlier than expected. Although momentum has slowed in the market, there is no doubt that confidence in exclusive Upper North Shore property is solid. With Ray White Upper North Shores’ continued track record of success, it’s an excellent time to take advantage of the spring selling season and make your next move. My team of highly experienced professionals are proven market leaders with a thorough understanding of the local area and market fluctuations. If you are considering a move prior to Christmas, call me today on 0414 184 911. David Walker 0414 184 911 david.walker@raywhite.com WHAT’S HAPPENING IN OUR MARKET?
FAST FACTS Source: Pricefinder 1 July – 30 September 2022 4. 3. 1. 2. NUMBER OF SALES HOUSE UNIT JUL-SEPT 2022 JUL-SEPT 2021 JUL-SEPT 2022 JUL-SEPT 2021 WAHROONGA 73 73 16 21 WARRAWEE 3 8 8 14 TURRAMURRA 47 51 28 42 MEDIAN SALE PRICE HOUSE UNIT JUL-SEPT 2022 JUL-SEPT 2021 JUL-SEPT 2022 JUL-SEPT 2021 WAHROONGA $2,350,000 $2,550,250 $1,000,000 $930,000 WARRAWEE $2,450,000 $5,648,000 $1,000,000 $1,012,500 TURRAMURRA $2,500,000 $2,980,000 $960,000 $935,000 5. HIGHEST HOUSE SALE HIGHEST UNIT SALE WAHROONGA 33 Water Street Wahroonga $14,500,000 WAHROONGA 501/10 Ada Avenue Wahroonga $3,555,000 WARRAWEE 4 Crescent Close Warrawee Undisclosed WARRAWEE 4/1359 Pacific Highway Warrawee $1,510,000 TURRAMURRA 49 Ku-Ring-Gai Avenue Turramurra $11,200,000 TURRAMURRA 3/279-281 Bobbin Head Road Turramurra $1,750,000 AVERAGE SALE PRICE HOUSE UNIT JUL-SEPT 2022 JUL-SEPT 2021 JUL-SEPT 2022 JUL-SEPT 2021 WAHROONGA $2,669,512 $2,976,139 $1,270,812 $1,110,991 WARRAWEE $2,190,333 $5,762,000 $829,688 $1,236,651 TURRAMURRA $3,007,660 $3,028,006 $1,020,786 $1,101,595
A SELECTION OF DAVID’S RECENT SALES 16 Robin Avenue, Turramurra 3 Clwydon Place, Wahroonga 3b Benson Close, Wahroonga 42 Hastings Road Warrawee 40 Boundary Road, Wahroonga 58 Fox Valley Road, Wahroonga 48 Carrington Road, Wahroonga 9 Ada Avenue, Wahroonga 1565 Pacific Highway, Wahroonga 4 The Broadway, Wahroonga 38 Ku-Ring-Gai Avenue, Turramurra 164 Grosvenor Street, Wahroonga Undisclosed Undisclosed Undisclosed Undisclosed Undisclosed Undisclosed $3,050,000 Undisclosed Undisclosed $3,100,000 Undisclosed Undisclosed
Open houses require an immaculate finish. Kitchens and bathrooms need special attention: under the sink, behind the loo, inside the oven and every shelf in every cupboard. Windows - both sides. Paths, eaves, decks must be free of dirt, moss and mould. Professional cleaners can provide a spotless finish in a fraction of the time it will take you to do it. They are well equipped with all the gear to get the job done fast and well, including extendable tools for hard-toreach areas, pressure washers, stain removal solutions and more. Outdoor areas should look as spacious as possible. While you can hack bushes back and cut some tree limbs down, do you realise every type of tree and shrub has a different growing habit? Unless they are pruned with care, dead or naked branches will be exposed and foliage cover will be uneven and unattractive. Professional gardeners ensure your plants are both tidy and healthy - plus, they can remove the green waste. A fresh coat of a neutral coloured paint does wonders for the overall appeal of a house. Easily done, right? Many of us will have attempted this seemingly basic task only to realise there is more to painting than being able to hold a brush. There are tricks and techniques to achieving a quality finish. Painters have all the equipment, skills and best of all, can get it done swiftly, so you’ll know the result will show off your home in the best light. Unless it’s changing a lightbulb, just don’t. All plumbing and electrical work must be completed by a licensed tradesman so don’t attempt any of it yourself. The last thing you want is any sub-par work being discovered during inspection and used to negotiate your price downwards. TV makeovers, with their amazing wow factor transformations, give you inspiration. What the shows don’t reveal are the discounts and paid product placements, so great looks on tiny budgets are not real world scenarios. Home stylists know what target buyers will find appealing and use their industry connections to source inspiring furniture and accessories to achieve the right look. Save yourself a lot of time and effort by hiring their knowledge and flair. STYLING CLEANING ELECTRICAL & PLUMBING GARDENING PAINTING If you’re putting your home on the market, getting it into tip-top shape is key to ensure it stands out from the competition. But when it comes to getting the best sale price, a DIY approach that saves you a few pennies may not always be the best option. Buyers can spot laziness and poor finishes from a mile away. An amateur renovation can give the impression that faults have been camouflaged and corners have been cut. Unless you’re able to achieve a professional result, call in the experts. FIVE DIY DON’TS WHEN PREPARING TO SELL
★★★★★ Exceptional from start to finish I have both bought and sold through Dave over the last 12 years. The experience on both sides of the transaction is honest, transparent and effective. When it came to listing our recent sale in Wahroonga there was absolutely no question who we would use. Not only is David exceptional at what he does, his team who look after every aspect of the sale were extremely professional, prompt and best in show. VENDOR – 4 THE BROADWAY WAHROONGA ★★★★★ What an incredible team David was awesome. He made us feel important and special even with the large number of clients he had to look after. He is skilled in strategy and negotiation, resulting in not only a good outcome but a wonderful experience. He has a powerful team working with him, who work together supporting each other, making it easy for us. We strongly recommend David and his team to anyone wishing to sell. VENDOR – 3 CLWYDON PLACE WAHROONGA ★★★★★ Knowledgeable and realistic Initially, we chose David as our agent on the strength of his recent successes in our area. From day one, David has been extremely professional, yet approachable, and gave us a realistic expectation for our sale. David contacted us after each open home and provided a detailed written report. We achieved our result in only 10 days. We have been very happy with the service that David’s team has provided and would not hesitate in recommending Ray White Upper North Shore and indeed, David himself. VENDOR – 40 BOUNDARY ROAD WAHROONGA David Walker Director 0414 184 911 david.walker@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 A WORD FROM MY CLIENTS
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