Market update APRIL - JUNE 2023 Courtesy of Coco Cui Roskam Ray White Upper North Shore
With the property market commencing 2023 with uncertainty, the last six months has highlighted the desirability, the resilience and the quality of the Upper North Shore market. Increased migration, particularly Chinese immigrants and Chinese who have been living here longer term are drawn to the area resulting in large buyer numbers. This coupled with limited stock has created a significant challenge to the market with listings well down on last year. Frustrated buyers have become more aggressive in order to secure a property with competition fierce and property prices increasing. 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 been remarkably resilient and is now in a positive phase. Given the current supply-demand dynamics, it is likely that the upward trend will continue until supply catches up with demand. With these factors in play, now is an opportune time to sell and with my track record of exceptional sale prices, my extensive market reach and area knowledge I can offer a significant advantage. Highlights from this quarter: • An increase in Chinese immigration and a wealth of active Chinese buyers has seen the Upper North Shore, which is an area of choice for these buyers deliver outstanding results • The activity around knockdown/rebuilds is particularly strong with my team and I selling five in the last quarter including 28 Oxley Avenue St Ives, which sold for $3,960,000 – a record sale for a knockdown/rebuild on a land size under 1000sqm • Q uality built, architecturally designed and luxury new builds are also garnering strong buyer interest with 22 Catherine Street St Ives highlighting this. The property on 695sqm sold for an unprecedented $6 million in just 4 days • The Upper North Shore satisfies all the desirable criteria including elite public and private schools, excellent amenities and reliable transport ensuring its ongoing outstanding growth If you are considering selling, I would be delighted to discuss how I can help you secure the highest price in the current market. Coco Cui Roskam 0422 683 409 coco.roskam@raywhite.com WHAT’S HAPPENING IN OUR MARKET?
FAST FACTS Source: Pricefinder 2023 1. NUMBER OF SALES HOUSE APRIL - JUNE 2023 APRIL - JUNE 2022 ST IVES 45 59 ST IVES CHASE 14 14 2. MEDIAN SALE PRICE HOUSE APRIL - JUNE 2023 APRIL - JUNE 2022 ST IVES $2,850,000 $2,850,000 ST IVES CHASE $3,162,500 $2,330,000 3. HIGHEST HOUSE SALE HOUSE APRIL - JUNE 2023 APRIL - JUNE 2022 ST IVES $7,850,000 $6,200,000 ST IVES CHASE $6,020,000 $3,800,000 Sales Volume RAY WHITE UPPER NORTH SHORE CONSISTENTLY SELLS MORE HOUSES IN ST IVES (2075) THAN ANY OTHER AGENCY Ray White Compe tor 1 Compe tor 2 Compe tor 3 Compe tor 4 Source: CoreLogic Market Scorecard FY23 75 50 25 0
QUARTER 2 SALES BY COCO CUI ROSKAM COULD YOUR PROPERTY BE THE NEXT RECORD BREAKING SALE? 28 Oxley Avenue, St Ives 33B Eastern Arterial Road, St Ives 58 Benaroon Avenue, St Ives 15 Mawson Street, St Ives 22 Catherine Street, St Ives 17 Gillian Parade, West Pymble 45 Romney Road, St Ives Chase 3 Massey Place, St Ives Chase 41 Murdoch Street, Turramurra 3 Mungarra Avenue, St Ives 4 Woodvale Close, St Ives SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD
On 13th May, we commenced an auction campaign for 58 Benaroon Avenue, St Ives. During the campaign we had a strong number of buyers show interest, and a large number of contracts issued. 58 Benaroon Avenue, St Ives | 4 2 2 935m2 approx Listed 13/05/2023 Price Guide $3,000,000 - $3,300,000 Groups Inspected 140 Contracts Issued 36 Registered Bidders 13 Sold 03/06/2023 Days on Market 22 Sales Price $3,850,000 A SALES CASE STUDY
A WORD FROM MY CLIENTS “Coco was great to work with, very communicative and always kept us in touch with progress being made. End result is she managed to sell our property at our target price in a challenging market, so well done Coco and the team at Ray White.” VENDOR – 33B EASTERN ARTERIAL ROAD, ST IVES “Coco is professional, patient and persistent- no highpressure talk. She kept us updated on every open day and private inspection. With her help, we knew the market, and the potential buyers. She is extremely hardworking and professional. This was the key to obtaining an excellent price in a short period of time. We appreciate the effort that Coco and her team made. We highly recommended Coco to anyone thinking of selling their house at St Ives. Thanks Coco!” VENDOR – 3 MUNGARRA AVENUE, ST IVES “Coco is a very good marketer. She is very hard working and professional. So I was very happy with her . I had a wonderful experience.” VENDOR – 58 BENAROON AVENUE, ST IVES 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 Head Office: 2 Turramurra Avenue, Turramurra NSW 2074 45-47 Hunter Street Hornsby NSW 2077 Coco Cui Roskam 0422 683 409 coco.roskam@raywhite.com
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