Market update JANUARY - MARCH 2024 Courtesy of Jessica Cao 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. Jessica Cao 0466877260 jessica.cao@raywhite.com WELCOME TO YOUR LOCAL MARKET UPDATE
FAST FACTS East Killara & East Lindfield Source: Pricefinder 2024 1. HOUSES JANUARY - MARCH 2024 JANUARY - MARCH 2023 EAST KILLARA 6 7 EAST LINDFIELD 7 5 NUMBER OF SALES EAST LINDFIELD 67% EAST KILLARA 57% 5. AUCTION CLEARANCE RATE (LAST 6 MONTHS) HOUSES JANUARY - MARCH 2024 JANUARY - MARCH 2023 EAST KILLARA $3,526,500 $2,980,000 EAST LINDFIELD $3,250,000 $3,975,000 2. MEDIAN SALE PRICE 4. HIGHEST SALE PRICE HOUSES JANUARY - MARCH 2024 JANUARY - MARCH 2023 EAST KILLARA $4,330,000 $6,320,000 EAST LINDFIELD $4,450,000 $4,880,000 HOUSES JANUARY - MARCH 2024 JANUARY - MARCH 2023 EAST KILLARA $3,211,429 $3,976,000 EAST LINDFIELD $3,602,167 $3,368,286 3. AVERAGE SALE PRICE
Sale Date Address Area sqm Bed Bath Car Sale Price EAST KILLARA 23/03/2024 3 Parnell Street, East Killara 917 4 2 2 $2,810,000 24/02/2024 23 Albany Crescent, East Killara 885 4 2 2 $3,120,000 23/03/2024 17 Rosetta Avenue, East Killara 910.5 4 3 2 $3,450,000 09/03/2024 137 Springdale Road, East Killara 1,012 3 1 3 $3,603,000 19/01/2024 11 Fairlight Avenue, East Killara 1,359 6 3 2 $4,300,000 22/03/2024 111 Koola Avenue, East Killara 841 5 5 2 $4,330,000 EAST LINDFIELD 16/03/2024 71 Robinson Street, East Lindfield 841 4 2 1 $2,200,000 23/03/2024 41 Sylvan Avenue, East Lindfield 835 3 1 2 $2,500,000 23/03/2024 42 Carlyle Road, East Lindfield 860 5 3 2 $3,220,000 17/02/2024 35 Pleasant Avenue, East Lindfield 898 3 2 2 $3,250,000 16/03/2024 54 Carlyle Road, East Lindfield 1,012 5 3 2 $3,285,000 24/02/2024 53 Pleasant Avenue, East Lindfield 1,423 5 3 3 $3,575,000 23/03/2024 62 Woodlands Road, East Lindfield 1,069 4 2 2 $4,450,000 EAST KILLARA & EAST LINDFIELD SALES January - March 2024
HIGHLIGHT SALES BY JESSICA CAO STREET RECORD BLOCK RECORD SOLD $2,660,000 SOLD $2,810,000 SOLD $4,900,000 SOLD $3,220,000 SOLD $4,000,000 SOLD $4,260,000 SOLD $3,120,000 SOLD $3,050,000 2 1 3 4 2 5 3 2 5 4 2 2 4 2 2 3 2 5 3 2 5 3 2 2 8 Hawkins Street, Artarmon 3 Parnell Street, East Killara 10 Marjorie Street, Roseville 42 Carlyle Road, East Lindfield 40 Carnarvon Road, Roseville 35 Eton Road, Lindfield 23 Albany Crescent, East Killara 305/2a Grosvenor Road, Lindfield 23 March 24 4 March 24 23 March 24 2 March 24 24 February 24 23 March 24 29 February 24 17 February 24
We would like to treat you to a Friday morning coffee in your favourite local cafe. Please come and say hello! Totally OK if you don’t feel like a chat too. COME HAVE A COFFEE ON US Friday 17 May 2024 9:00am - 11:00am KillaBrew Coffee, Killara Bakery and Groceries East Killara Friday 21 June 2024 9:00am - 11:00am Echo on the Marina Roseville Roseville Chase Friday 26 July 2024 9:00am - 11:00am Dukes Green Cafe East Lindfield
LIVE LOCAL, LOVE LOCAL Jessica: Hi Wally, thanks for taking the time to chat with me today. I’ve always admired Dukes Green Cafe and its lovely setting next to the park. Let’s dive right in! Q: W ally, you’ve been in the hospitality industry for quite some time. What inspired you to buy Dukes Green Cafe here in East Lindfield three years ago? A: Thanks, Jessica. Well, I had to close my venues in North Sydney during the Covid pandemic, which was a challenging time for everyone in the hospitality sector. But it also gave me a chance to reassess and look for new opportunities. I saw great potential in East Lindfield and felt that the community here would appreciate a quality cafe. The location next to the park was perfect, especially with its pet-friendly atmosphere, and I thought it would be a great fit for families like mine. Q: H ow has the community response been since you opened Dukes Green Cafe? A: The community has been incredibly supportive since day one. We’ve built a loyal customer base, and it’s been wonderful to see familiar faces coming back regularly. East Lindfield and East Killara are lovely areas with a mix of families and professionals, and it’s been great getting to know our regulars and their stories. Over the past three years, I’ve noticed more young families moving into the area. It’s a vibrant and growing community, and we’re proud to be a part of it. Q: B alancing work and family can be a challenge, especially with two young kids. How do you manage to juggle running Dukes Green Cafe while also spending quality time with your family? A: I’m fortunate to have a supportive team at the cafe and a wonderful family. My kids love coming to visit me at work, and they enjoy playing in the park next door. It’s important for me to be present for my family, so I make sure to set aside time for them, especially on weekends and holidays. It’s all about prioritising and finding a routine that works for us. Jessica: That’s wonderful to hear, Wally. It sounds like you’ve found a great balance and are truly passionate about what you do. Thank you for sharing your insights with us today. Wally: Thank you, Jessica! It’s been a pleasure chatting with you. If you’re ever in the area, please stop by for a coffee or a bite to eat! Dukes Green Cafe 15 Hughes Pl, East Lindfield | 9310 3042 | dukesgreencafe.com.au Mon-Fri 7am-2:30pm | Sat-Sun 7:30am - 2:30pm Q & A with Wally Pack from Dukes Green Cafe
A WORD FROM MY CLIENTS Jessica Cao 0466 877 260 jessica.cao@raywhite.com Excellent Agent “Highly recommended Jessica and her team Lyndon. Selling property can be a painful and stressful task. But their team made this process simple and easy. From renovation, preparation, cleaning and then timing listing, auction and much more. All these have been well looked after while working with the team. We bought our home from Jessica 10 years ago, now she has helped us pass it on to another nice family.” VENDOR – 10 MARJORIE STREET, ROSEVILLE Highly recommend “Selling property is stressful and easy to get depressed over, however from when we first asked her advice over a half year ago, every time we sought Jessica’s advice, she easily solved our concerns. We like her character very much and it is the reason why she is surrounded with a good team that work together to handle both vendor and buyer’s worries promptly. In addition to these, we are also pleased to have Lyndon as her assistant. Highly recommend.” VENDOR – 3 PARNELL STREET, EAST KILLARA Best Agent “We decided to sell our brand new house at the later stage of its completion, Jessica and Lyndon gave us a huge amount of their time and knowledge of the market. Jessica is completely honest, professional and is a great communicator. We genuinely felt at ease in her capable hands. Her knowledge of the market is exceptional. Great result & great support in the process. We highly recommend Jessica, Lyndon and all of her team.” VENDOR – 79 ARCHBOLD ROAD, EAST LINDFIELD 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
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