Market review Courtesy of Stephanie Hearne Ray White Upper North Shore
I am thrilled to announce my return to real estate after 6 months of long service leave. I am equally delighted to share that I have joined Ray White Upper North Shore, the highest selling real estate agency on the Upper North Shore. This exciting new chapter in my 20 year real estate career brings with it a wealth of knowledge and expertise that I am eager to apply to benefit each and every one of you. Whether you are considering selling your home or simply seeking professional real estate advice, I look forward to discussing with you. With my new position at Ray White, I can now offer clients industry-leading marketing strategies backed by Australia’s most successful real estate brand. What can you expect from the property market for the rest of 2023? Limited Stock: 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, it is likely that the upward trend will continue until supply catches up with demand. Let’s embark on this journey together, and together we can make your real estate dreams a reality. I look forward to discussing your goals with you. Stephanie Hearne 0412 565 682 stephanie.hearne@raywhite.com WHAT’S HAPPENING IN OUR MARKET?
FAST FACTS Source: Pricefinder 2023 1. NUMBER OF SALES ROSEVILLE 53.5% 5. AUCTION CLEARANCE RATE (LAST 6 MONTHS) 4. HIGHEST SALE PRICE 2. MEDIAN SALE PRICE 3. AVERAGE SALE PRICE HOUSES UNITS Q2 2023 Q2 2022 Q2 2023 Q2 2022 ROSEVILLE 16 18 28 8 HOUSES UNITS Q2 2023 Q2 2022 Q2 2023 Q2 2022 ROSEVILLE $2,976,000 $3,700,000 $920,000 $950,000 HOUSES UNITS Q2 2023 Q2 2022 Q2 2023 Q2 2022 ROSEVILLE $2,517,125 $4,076,667 $928,000 $917,111 HOUSES UNITS Q2 2023 Q2 2022 Q2 2023 Q2 2022 ROSEVILLE $5,250,000 $8,790,000 $2,420,000 $1,200,000
Source: Pricefinder 2023. Not all sales were made by Ray White. Address Sale Price Sale Date Area sqm Bed Bath Car 12 Clermiston Avenue Undisclosed 17/06/2023 1,359 5 3 2 43 Park Avenue Undisclosed 10/06/2023 836 6 4 4 31 Thomas Avenue $3,502,000 10/06/2023 845 6 2 2 40 Barcoo Street Undisclosed 08/06/2023 740 5 4 2 23 Thomas Avenue $4,950,000 07/06/2023 825 5 3 2 26a Scott Crescent Undisclosed 07/06/2023 370 3 2 1 18 Clermiston Avenue $4,250,000 03/06/2023 1,111 4 3 2 17 Longford Street $2,902,000 03/06/2023 1,394 4 3 1 36 Abingdon Road $2,900,000 25/05/2023 868 4 2 1 6 Luxor Parade $3,050,000 06/05/2023 1,396 4 3 2 105 Roseville Avenue $3,550,000 28/04/2023 696 6 4 1 5 Hill Street $1,400,000 27/04/2023 739 1 4 - 131 Roseville Avenue Undisclosed 25/04/2023 697 5 2 3 23 Carnarvon Road $3,500,000 22/04/2023 1,160 4 2 2 12 Kimo Street $5,250,000 12/04/2023 3,827 4 4 3 5 Trafalgar Avenue $5,020,000 01/04/2023 839 5 2 2 RECENT SALES IN ROSEVILLE 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
“Stephanie presented a concise campaign plan that included how to best present the house, promotional material, timeline as well as price expectations. Throughout the campaign Stephanie kept us fully informed of interest via regular communication. The successful sale in less than three weeks, at a price that met our expectations, was a fantastic outcome of a beautifully executed plan.” VENDOR, EARL STREET, ROSEVILLE “Stephanie was very professional in handling the sale of our home. Her guidance was valuable and she responded immediately to queries and to any new circumstances. Her communication was excellent. We are very happy with having her sell our home.” VENDOR, PARK AVENUE, ROSEVILLE “Stephanie was a proactive and energetic agent who worked very hard to sell our house. The house was sold off market and Stephanie had a large number of people looking to buy who she could show through. Her knowledge of the local area and what the market was doing at the time of the sale was spot on. Stephanie kept us informed via email and phone calls every time she showed a potential buyer through the house and let us know their feedback. We would certainly recommend her to others.” VENDOR, DEAKIN PLACE, EAST KILLARA “Stephanie went well above and beyond in our recent purchase. From the start, Stephanie was open and extremely helpful, from great advice and recommendations to numerous late night emails! All helped ensure a smooth exchange within two days of our first visit and then continuous support and help until settlement. Highly recommend.” PURCHASER, CARNARVON ROAD, ROSEVILLE A WORD FROM MY CLIENTS Stephanie Hearne 0412 565 682 stephanie.hearne@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 | (02) 9449 9066 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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