Market update JANUARY - MARCH 2024 Courtesy of Amy Kaslar Ray White Upper North Shore
Our local property market is experiencing significant momentum, with projections indicating Sydney house prices could rise over 10% this year, outpacing last year’s growth. The past 12 months have seen house prices across Sydney surge by 9.7%, with unit prices also showing robust growth at 7.4%. Several fundamental drivers are underpinning this upward trajectory: Population Growth vs Housing Supply Last year’s strong population growth wasn’t matched by sufficient new home construction, exacerbating the housing shortfall. Despite the need for 250,000 new homes, only 175,000 were built in 2023, with approvals for even fewer in the pipeline. Interest Rate Outlook With inflation moderating, there’s growing anticipation of interest rate cuts, which will further stimulate the market. Construction Costs and Affordability Rising construction costs are making new homes more expensive, pushing more buyers towards the established market, where it’s currently more cost-effective to purchase than build. The Upper North Shore is always in high demand with elite schools, leafy surrounds and a multitude of urban amenities catering to both families and professionals. If you’re thinking of selling, the current market conditions certainly present a compelling opportunity. As we move into autumn and winter, preparing your home for sale is crucial for standing out in our competitive market. Ensure your home is well-lit, both naturally and with warm, ambient lighting. Accentuate features that appeal during cooler months, such as fireplaces or underfloor heating. As the highest selling real estate agency on the Upper North Shore, selling 736 properties totaling over $1.9 billion in 2023, our team offers unmatched expertise to enhance your property’s value. I look forward to discussing your real estate goals. Amy Kaslar 0438 404 444 amy.kaslar@raywhite.com WELCOME TO YOUR LOCAL MARKET UPDATE
FAST FACTS Source: Pricefinder 2024 WESTLEIGH 76.5% 5. AUCTION CLEARANCE RATE (LAST 6 MONTHS) HOUSE Q1 2024 Q1 2023 WESTLEIGH $3,365,000 $2,070,000 4. HIGHEST HOUSE SALE PRICE HOUSE Q1 2024 Q1 2023 WESTLEIGH $2,050,000 $1,832,500 2. MEDIAN HOUSE SALE PRICE HOUSE Q1 2024 Q1 2023 WESTLEIGH $2,149,667 $1,830,833 3. AVERAGE HOUSE SALE PRICE 1. HOUSE Q1 2024 Q1 2023 WESTLEIGH 15 6 NUMBER OF HOUSE SALES
HIGHLIGHT SALES BY AMY KASLAR 3-5 Tomah Place Westleigh 72 Dartford Road Thornleigh 37 The Sanctuary Westleigh 43 Eucalyptus Drive Westleigh 146 Quarter Sessions Road Westleigh 25 Duneba Drive Westleigh SOLD $3,365,000 SOLD $3,398,000 SOLD $2,350,000 SOLD $2,285,000 SOLD $2,040,000 SOLD $1,950,000 4 3 2 5 3.5 2 4 3 3 4 2 2 4 2 2 4 3 2
WHY SELL WITH RAY WHITE UPPER NORTH SHORE? WHY SELL WITH RAY WHITE UPPER NORTH SHORE? Sales Volume Ray White Compeঞtor 1 Compeঞtor 2 Compeঞtor 3 Compeঞtor 4 0 200 400 600 800 Sales Value Ray White Compeঞtor 1 Compeঞtor 2 Compeঞtor 3 Compeঞtor 4 $0 $500,000,000 $1,000,000,000 $1,500,000,000 $2,000,000,000 Source: CoreLogic Market Scorecard 2023 Ray White Upper North Shore sets the standard by selling more properties than any other agency across the Upper North Shore. This extensive track record enables us to connect with more potential purchasers than anyone else, ensuring unmatched exposure for your property. Our comprehensive marketing strategies are proven to give you an advantage when selling your home. VIEWS ENGAGEMENT ENQUIRIES SAVES & SHARES 1,934 1,218 1,367 848 26 19 88 52 RAY WHITE UPPER NORTH SHORE MARKET AVERAGE Source: Domain published listings FY23 WHY SELL WITH RAY WHITE UPPER NORTH SHORE? Sales Volume Ray White Compeঞtor 1 Compeঞtor 2 Compeঞtor 3 Compeঞtor 4 0 200 400 600 800 Sales Value Ray White Compeঞtor 1 Compeঞtor 2 Compeঞtor 3 Compeঞtor 4 $0 $500,000,000 $1,000,000,000 $1,500,000,000 $2,000,000,000 Source: CoreLogic Market Scorecard 2023 Ray White Upper North Shore sets the standard by selling more properties than any other agency across the Upper North Shore. This extensive track record enables us to connect with more potential purchasers than anyone else, ensuring unmatched exposure for your property. Our comprehensive marketing strategies are proven to give you an advantage when selling your home. VIEWS ENGAGEMENT ENQUIRIES SAVES & SHARES 1,934 1,218 1,367 848 26 19 88 52 RAY WHITE UPPER NORTH SHORE MARKET AVERAGE Source: Domain published listings FY23 Sales Volume Ray White Compeঞtor 1 Compeঞtor 2 Compeঞtor 3 Compeঞtor 4 0 200 400 600 800 Sales Value Ray White Compeঞtor 1 Compeঞtor 2 Compeঞtor 3 Compeঞtor 4 $0 $500,000,000 $1,000,000,000 $1,500,000,000 $2,000,000,000 Source: CoreLogic Market Scorecard 2023 Ray White Upper North Shore sets the standard by selling more properties than any other agency across the Upper North Shore. This extensive track record enables us to connect with more potential purchasers than anyone else, ensuring unmatched exposure for your property. Our comprehensive marketing strategies are proven to give you an advantage when selling your home. VIEWS ENGAGEMENT ENQUIRIES SAVES & SHARES 1,934 1,218 1,367 848 26 19 88 52 RAY WHITE UPPER NORTH SHORE MARKET AVERAGE Source: Domain published listings FY23
Above and beyond expectations “Amy and her team were a delight to work with. Professional, efficient and dedicated. Nothing was a bother for her and she was always available to answer our many questions and guide us through the selling process. Amy offers realistic advice and works with you to achieve the best results possible. We would highly recommend her as your agent of choice.” VENDORS - 43 EUCALYPTUS DRIVE, WESTLEIGH Best of the Best “Amy has once again proved that her value to prospective buyers and purchasers alike and market knowledge is unparalleled in our suburb and surrounding areas. With a fairly unique property Amy insisted on a strong marketing campaign that was of the highest quality and every operation required to present our property was carried out by a team of consummate professionals. We were thrilled with our result and dealt with at least six others in her team at Ray White. Thank you for your long time continued interest in our property. It has been very worthwhile for us and I have no doubt you will continue to break records and help people’s dreams come true. Most admiration and respect to you for the future.” VENDORS - 3-5 TOMAH PLACE, WESTLEIGH Great result “Amy has been the prominent agent in the area for many years, she knows the market and has the buyers. We didn’t even consider anyone else to sell our house. Amy and her team made the whole process simple and easy by providing assistance and resources throughout the whole process and always keeping us up to date. Their diligence and hard work resulted in our house being sold in three weeks in our price range, an exceptional result considering there were multiple houses on the market at the same time. We appreciated the honest, friendly and professional service and the results speak for themselves.” VENDORS - 146 QUARTER SESSIONS ROAD, WESTLEIGH A WORD FROM MY CLIENTS Amy Kaslar 0438 404 444 amy.kaslar@raywhite.com Roseville 39 Hill Street Wahroonga 18 Railway Avenue St Ives 237 Mona Vale Road Hornsby 45-47 Hunter Street Pennant Hills 1 Hillcrest Road Ray White Upper North Shore Head Office: 2 Turramurra Avenue, Turramurra raywhiteuppernorthshore.com.au Suburb Winner 2018, 2019, 2020, 2021, 2022, 2023, 2024.
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