Market update AU G U S T 2 0 2 2 Courtesy of David Beveridge Ray White Upper North Shore
WHAT’S HAPPENING IN OUR MARKET? As always, the property market continues to be a point of discussion with most people. Many 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, like many, still see the interest rate level to still be low. Furthermore, it was 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 shortage of properties. Typically listing levels reduce in winter but supply is reduced even more so this year. This has assisted in prices declining to a lesser extent in our area when compared to some other 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. 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 upsizing 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 many years, I am used to changing conditions. 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 to contact me at any stage for a discussion. David Beveridge 0411 225 167 david.beveridge@raywhite.com
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 DAVID BEVERIDGE 423A Mona Vale Road, St Ives 4/6 Shinfield Avenue, St Ives 9 Priory Close, St Ives 3 Aurora Drive, St Ives 37 Melaleuca Drive, St Ives 234 Warrimoo Avenue, St Ives 42 Bimburra Avenue, St Ives 16 Cassandra Avenue, St Ives 3 Ovens Place, St Ives 7 Barra Brui Crescent, 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
Outstanding market knowledge “David’s knowledge of the local market is second to none, which was a huge benefit when we decided to sell our house (which we bought through David 10 years ago). Having both bought and sold with David, our experience has been flawless! Super proactive & responsive. 100% would recommend.” GREIG & EMILY HODGINS, 88 KILLEATON STREET, ST IVES Best in St Ives “David provided great clarity and honesty in appraising our property, read the market conditions brilliantly then perfectly promoted the home to maximise enquiry. Once buyers were in play he dealt with all parties fairly and transparently, moved quickly and ensured a great price was achieved. Throughout the process he was a great communicator, forthcoming with information and incredibly responsive to any and all questions. The best in St Ives, by a mile.” CLINTON DUNCAN, 16 CASSANDRA AVENUE, ST IVES An approachable perfectionist! “David is an approachable gentleman, a perfectionist, and a person of integrity. He has a good eye for finesse and is an expert in his field. He executed the project with immaculate details from inception to completion of sales. He has an incredible team. We just have to trust his highly experienced opinion. He understands the buyer’s needs and he is very sensitive to the seller’s requirements. He is willing to sacrifice his private family time if required to. In short, he cares!” JOSEPH & ANITA TING, 234 WARRIMOO AVENUE, ST IVES A WORD FROM MY CLIENTS 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 David Beveridge 0411 225 167 david.beveridge@raywhite.com
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