Market update Courtesy of Giuseppe Princi Ray White Upper North Shore
WELCOME TO YOUR LOCAL MARKET UPDATE 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. Giuseppe Princi 0433 641 046 giuseppe.princi@raywhite.com
OFF MARKET SALES BY GIUSEPPE PRINCI 15/18 Shinfield Avenue, St Ives 42/132-138 Killeaton Road, St Ives G01/12 Shinfield Avenue, St Ives 2103/177 Mona Vale Road, St Ives 3/165-167 Rosedale Road, St Ives 9/3-7 Porters Lane, St Ives 8/165-167 Rosedale Road, St Ives 4/3-7 Porters Lane, St Ives 2 2 1 2 2 2 2 2 1 2 2 1 2 2 1 2 2 1 1 1 1 2 2 2
SALES BY GIUSEPPE PRINCI Address Date Sale price 33/18 Shinfield Avenue, St Ives 23 Apr 2024 $1,366,000 2402/177 Mona Vale Road, St Ives 21 Apr 2024 $675,000 312/126B Killeaton Street, St Ives 16 Apr 2024 $1,050,000 441/132-138 Killeaton Street, St Ives 10 Apr 2024 Undisclosed 4/3-7 Porters Lane, St Ives 10 Apr 2024 $1,360,000 16/212-216 Mona Vale Road, St Ives 3 Apr 2024 $615,000 59/3-7 Porters Lane, St Ives 23 Feb 2024 $2,105,000 8/165-167 Rosedale Road, St Ives 22 Feb 2024 $1,426,500 161/132-138 Killeaton Road, St Ives 13 Feb 2024 $1,280,000 39/212-216 Mona Vale Road, St Ives 2 Feb 2024 $660,000 230/132-138 Killeaton Road, St Ives 30 Jan 2024 $840,000 42/132-138 Killeaton Road, St Ives 21 Dec 2023 $1,030,000 9/3-7 Porters Lane, St Ives 28 Nov 2023 $855,000 100/212-216 Mona Vale Road, St Ives 14 Nov 2023 $652,000 13/3-7 Porters Lane, St Ives 14 Nov 2023 $1,225,000 2103/177 Mona Vale, St Ives 31 Oct 2023 $881,000 451/17-19 Memorial Avenue, St Ives 17 Oct 2023 $923,000 3/165-167 Rosedale Road, St Ives 29 Sep 2023 $1,330,000 49/132-138 Killeaton Road, St Ives 08 Sep 2023 $720,000 326/132-138 Killeaton Road, St Ives 04 Sep 2023 $900,000 11/165-167 Rosedale Road, St Ives 02 Sep 2023 $1,250,000 368/17-19 Memorial Avenue, St Ives 29 Aug 2023 $1,335,000 G01/12 Shinfield Avenue, St Ives 22 Aug 2023 $1,100,000 15/18 Shinfield Avenue, St Ives 18 Aug 2023 $980,000 311/1-3 Sturt Place, St Ives 06 Aug 2023 $915,000 13/165-167 Rosedale Road, St Ives 01 Aug 2023 $1,721,500 305/1-3 Sturt Place, St Ives 12 Jul 2023 $862,500 302/126A Killeaton Street, St Ives 3 Jul 2023 $750,000 59/212-216 Mona Vale Road, St ives 16 Jun 2023 $635,000 48/165-167 Rosedale Road, St Ives 3 May 2023 Undisclosed 24/132-138 Killeaton Street, St Ives 21 Apr 2023 $800,000 76/212-216 Mona Vale Road, St Ives 18 Apr 2023 $658,000 27/18 Shinfield Avenue, St Ives 14 Apr 2023 $962,000 70/212-216 Mona Vale Road, St Ives 01 Apr 2023 $665,000 26/18 Shinfield Avenue, St Ives 21 Mar 2023 $710,000 G03/126 Killeaton Street, St Ives 09 Mar 2023 $995,000 25/30 Stanley Street, St Ives 21 Feb 2023 $1,000,000 5/2-4 Newhaven Place, St Ives 16 Feb 2023 $930,000
Will your home be the next record-breaking sale? As the highest selling agency on the Upper North Shore, we meet more qualified buyers than anyone else. Our combined database ensures all prospective buyers see your property. Our industry-leading marketing strategies position your home in front of every prospective buyer, both locally and internationally. Our results speak for themselves and this experience gives our clients an advantage, especially when it comes to negotiation skills. HERE'S WHY: RAY WHITE UPPER NORTH SHORE CONSISTENTLY SELLS MORE STRATA PROPERTIES IN ST IVES THAN ANY OTHER AGENCY Source: CoreLogic Market Scorecard Units 05/05/2023 - 06/05/2024 Sales Volume 0 5 10 15 20 25 30 35 Ray White Compeঞtor 1 Compeঞtor 2 Compeঞtor 3 Compeঞtor 4 Compeঞtor 5
A WORD FROM MY CLIENTS Giuseppe Princi Sales 0433 641 046 giuseppe.princi@raywhite.com Exceptional knowledge “Giuseppe has exceptional market knowledge of St Ives with a calm, professional and friendly demeanour. It was a pleasure to work with him and his team. We followed his advice every step of the way and, within ten days, our apartment was sold with minimal stress. We couldn’t have asked for a better outcome because it enabled us to purchase the home we had fallen in love with. We highly recommend Giuseppe.” VENDOR - 33/18 SHINFIELD AVENUE, ST IVES Easy & smooth process “Giuseppe is an excellent agent. He is capable, honest, goaloriented, always responsive, and easy to communicate with. He behaves responsibly and professionally. I am impressed with his great sense of duty and fortitude in the face of market challenges. He successfully sold my apartment. He is a trustworthy sales professional who is a delight to work with.” VENDOR - 49/132-138 KILLEATON STREET, ST IVES Stands out “Giuseppe stands out from the rest. He approaches things not just as a job but with a sense of responsibility, and his wealth of experience provides tailored advice and delivers results. Throughout our time together, we truly relied on him and achieved excellent results.” VENDOR - 451/17-19 MEMORIAL AVENUE, ST IVES Perfect communication “Giuseppe has been very accommodating in the sale of our apartment. His knowledge of the local area meant we didn’t have to worry too much about how the property market was going. He is very genuine, reliable and always makes time for you. He was very patient through the process and always available if you have any concern or question. We really had a great experience with him selling our unit in St Ives.” VENDOR - 39/212-216 MONA VALE ROAD, ST IVES 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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