Market update JANUARY – MARCH 2024 Courtesy of Scott Phillips 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 strong demand with highly sought after schools, leafy surrounds and a multitude of urban amenities catering to both families and professionals. The first quarter did see a rise in the amount of property for sale, but much cleared prior to Easter as we transition to the next stage of the selling cycle now. As we move into autumn and winter, preparing your home for sale is crucial for standing out in our competitive market. Accentuate features that appeal during cooler months, such as fireplaces or underfloor heating. I have been awarded Agent of the Year Killara for the fifth year in 2024 by Australia’s No.1 vendor and buyer review platform, RateMyAgent. As part of the Upper North Shore’s highest selling real estate agency, my team delivers unmatched expertise to ensure premium results. I look forward to discussing your real estate goals. Scott Phillips 0402 272 575 scott.p@raywhite.com
WHY SELL WITH SCOTT PHILLIPS FROM UNS? WHY SELL WITH RAY WHITE UPPER NORTH SHORE? Sales Volume Ray White Compe tor 1 Compe tor 2 Compe tor 3 Compe tor 4 0 200 400 600 800 Sales Value Ray White Compe tor 1 Compe tor 2 Compe tor 3 Compe tor 4 $0 $500,000,000 $1,000,000,000 $1,500,000,000 $2,000,000,000 Source: CoreLogic Market Scorecard 2023 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 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 any other agency, ensuring unmatched exposure for your property. 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
Address Sale Price Area sqm Bed Bath Car 2 Birdwood Avenue, Killara $2,600,000 892 2 1 1 87 Fiddens Wharf Road, Killara $3,250,000 835 4 1 3 3 Elva Avenue, Killara $3,300,000 898 4 2 4 46 Norfolk Street, Killara $3,520,000 823 4 2 2 29 Gurin Avenue, Killara $3,650,000 847 5 3 4 6 Elva Avenue, Killara $3,850,000 859 4 2 2 30 Kardella Avenue, Killara $4,120,000 724 5 2 3 79 Springdale Road, Killara $4,800,000 1,113 5 3 2 55 Greengate Road, Killara $5,800,000 997 5 4 2 12 Bruce Avenue, Killara $5,900,000 1,215 3 1 2 30 Wattle Street, Killara $6,510,000 1,264 5 3 4 58 Springdale Road, Killara $15,000,000 2,321 4 2 4 6 Carlotta Avenue, Gordon $2,761,000 683 3 3 2 38 Waugoola Street, Gordon $3,094,000 710 4 3 1 14 Mount Ida Street, Gordon $3,250,000 1,024 5 3 1 46 McIntyre Street, Gordon $3,450,000 835 4 2 2 3 Matong Street, Gordon $3,481,000 760 4 2 1 4 Vale Street, Gordon $3,550,000 997 4 2 2 16 Baldwin Street, Gordon $3,850,000 1,702 4 3 3 9 Robert Street, Gordon $3,910,000 727 4 2 3 5 Lynn Ridge Avenue, Gordon $4,088,000 866 4 2 2 28 McIntosh Street, Gordon $4,300,000 1,265 4 2 2 14 Lennox Street, Gordon $4,610,000 974 5 3 2 49 Nelson Street, Gordon $5,220,000 995 5 3 2 A SELECTION OF RECENT SALES GORDON AND KILLARA
HIGHLIGHT SALES BY TEAM PHILLIPS 14 Lennox Street, Gordon 5 Maitland Street, Killara 28 McIntosh Street, Gordon 87 Fiddens Wharf Road, Killara 26 Warrangi Street, Turramurra 37 Baldwin Street, Gordon SOLD $4,610,000 SOLD $4,500,000 SOLD $4,300,000 SOLD $3,250,000 SOLD $6,510,000 SOLD $3,380,000 5 3 2 5 3 2 5 5 2 4 2 2 4 2 2 4 1 3 STREET RECORD STREET RECORD STREET RECORD
A great result “Moving from a home of over 40 years was always going to be a wrench, but Scott and his team were great coaches in what turned out to be a long journey. Scott invested himself in our transition over two years before we committed to sell, and was a wise counsel on all matters property through that period as we bought elsewhere and then sold our home. Always available, knowledgeable and highly professional, we have been very well served by Scott and the whole Ray White team. We highly recommend both Scott and Rosanna to anyone who needs advice and support in the daunting process of moving homes.” JAMES AND MARGARET, VENDORS - 14 LENNOX STREET GORDON A very efficient and effective team “Highly recommended by a friend of mine, I chose Scott and Rosanna to sell my home of 40+ years when it was time to downsize. Friendly, charming and efficient from the beginning, they helped me prepare my home for sale, they kept me up to date throughout the whole process and achieved a wonderful result. And now, in my turn, I also would not hesitate to recommend them to anyone thinking of selling.” MARGARET, VENDOR - 28 MCINTOSH STREET GORDON Very helpful “Scott, Rosanna, and the team had a very good understanding of the market and of the area. They had helpful advice and useful contacts which we really appreciated and were able to utilise for our mutual benefit. They were always cheerful and available. They organised the necessary tradespeople efficiently and in a short time frame. They provided clear communication and helpful answers. We would be happy to recommend them to other vendors.” VICKY, VENDOR - 87 FIDDENS WHARF ROAD, KILLARA A WORD FROM MY CLIENTS Scott Phillips Sales 0402 272 575 scott.p@raywhite.com Rosanna Morley Sales Associate to Scott Phillips 0413 053 322 rosanna.morley@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
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