Turramurra & North Turramurra MARKET UPDATE Courtesy of Matt Bolin – Ray White Upper North Shore
WELCOME TO MY LATEST MARKET UPDATE Sydney’s property market picked up faster than anticipated, bringing an early end to the typically quiet winter period, especially on the Upper North Shore. Spring selling season is well and truly in full swing, with a noticeable rise in listings across all suburbs. This increased supply provides buyers with more options, however more buyers brings heightened competition. Demand continues to drive price growth, with Sydney house prices increasing by 6.8% year-on-year to an average of $1.429 million in July. Unit prices have also seen an increase of 3.9% over the same period, reaching $830,000. While there was a jump in listings in early September, any negative impact on prices was more muted than expected because the increase in listings was matched by a similar rise in demand. Factors like record population growth, sluggish building activity and soaring rents have long been influencing price growth. Many tenants facing high rental costs are transitioning into homeownership, further fuelling demand. Looking ahead, the key trends shaping the market include: • Australia hasn’t yet joined other parts of the world in cutting rates, but pressure is building. Monthly inflation came in at 3.5% in August, just above the Reserve Bank of Australia’s upper limit of 3%. It is now looking increasingly likely that we will hit 3% by this year, and a cut this year is now possible. • S carcity of Dwellings: The shortage of properties for both purchase and rent will likely continue. • Rising Rents: Rental prices are expected to keep climbing due to the ongoing demand. • Strong Migration: High levels of migration will continue to support the housing market. • Investor Activity: Investor finance has increased by 31%, indicating that savvy investors are still actively investing in the property market. • Robust Economy: Despite the challenges, the overall economy is predicted to remain strong. If you’re a buyer in the highly competitive Upper North Shore market, preparation is key. The speed at which quality homes are moving means that being ready to make quick, informed decisions can be the difference between securing your dream home or losing out. Ensure you have your finance approved and in place. Ray White Upper North Shore has just been recognised as the No.1 International Office of the entire Ray White Group. We’ve come first by putting you first, so get in touch with us and see what a difference award-winning service can make. Matt Bolin Partner 0417 269 023 | matt.bolin@raywhite.com
FAST FACTS Source: Pricefinder 2024 1. HOUSES UNITS Q3 2024 Q3 2023 Q3 2024 Q3 2023 TURRAMURRA 39 38 28 37 NORTH TURRAMURRA 15 9 3 5 NUMBER OF SALES HOUSES UNITS Q3 2024 Q3 2023 Q3 2024 Q3 2023 TURRAMURRA $8,000,000 $8,500,000 $3,500,000 $2,750,000 NORTH TURRAMURRA $5,360,000 $5,280,000 $2,300,000 $2,250,000 4. HIGHEST SALE PRICE HOUSES UNITS Q3 2024 Q3 2023 Q3 2024 Q3 2023 TURRAMURRA $3,045,900 $3,475,000 $1,217,500 $950,000 NORTH TURRAMURRA $2,927,000 $3,000,000 $1,700,000 $1,832,500 2. MEDIAN SALE PRICE HOUSES UNITS Q3 2024 Q3 2023 Q3 2024 Q3 2023 TURRAMURRA $3,555,389 $3,783,855 $1,347,196 $1,194,072 NORTH TURRAMURRA $3,161,300 $3,543,778 $1,333,333 $1,746,250 3. AVERAGE SALE PRICE
RECENT SALES BY MATT BOLIN SOLD $4,000,000 SOLD $3,300,000 SOLD $2,480,000 SOLD $2,500,000 SOLD $2,927,000 SOLD $2,100,000 SOLD $3,280,000 SOLD $2,920,000 40 Kirkpatrick Street, North Turramurra 12C Miowera Road, North Turramurra 15 Keats Avenue, North Turramurra 1 Gwydir Avenue, North Turramurra 30 Banks Avenue, North Turramurra 6/9a Curagul Road, North Turramurra 24 Karuah Road, Turramurra 170 Burns Road, Turramurra 4 2 2 5 4 3 3 1 1 4 2 2 4 3 1 3 2 2 5 2 2 5 2 2
RECENT SALES BY RAY WHITE UPPER NORTH SHORE SOLD SOLD SOLD $4,500,000 SOLD $2,730,000 SOLD SOLD SOLD $2,700,000 SOLD $2,560,000 7 Miowera Road, North Turramurra 17 Challis Avenue, Turramurra 26a Ku-ring-gai Avenue Turramurra 37 Kedumba Crescent, North Turramurra 3B Warrangi Street Turramurra 119 Eastern Road, Turramurra 32 Apps Avenue, North Turramurra 124 Kissing Point Road, Turramurra 5 3 3 5 4 2 4 2 2 2 1 1 6 5 2 5 3 4 3 2 1 5 3 2
A SELECTION OF TURRAMURRA & NORTH TURRAMURRA SALES Please note: Not all sales were made by Ray White Upper North Shore. Sale Date Address Area m2 Beds Bath Car Sale Price 2/7/2024 7 Coolabah Avenue 942 2 1 1 $3,620,000 10/7/2024 170 Burns Road 1100 5 2 2 $2,920,000 15/7/2024 1a Nambucca Street 416 3 2 2 $2,200,000 15/7/2024 49 Warragal Road 771 5 4 2 $5,100,000 20/7/2024 130 Bobbin Head Road 783 4 2 1 $3,091,800 1/8/2024 1258 Pacific Highway 892 5 4 4 $3,860,000 9/8/2024 3a Ancona Road 1015 5 4 3 $4,280,000 22/8/2024 24 Karuah Road 502 5 2 2 $3,280,000 27/8/2024 60 Ku-ring-gai Avenue 1979 5 3 3 $8,000,000 5/9/2024 105 Bobbin Head Road 1511 3 2 4 $3,305,000 21/9/2024 51a Bobbin Head Road 923 5 2 5 $3,000,000 14/9/2024 90 Bobbin Head Road 1391 5 3 2 $3,550,000 14/9/2024 19 Berrillee Street 1105 5 3 2 $5,410,000 21/9/2024 51a Bobbin Head Road 923 5 2 5 $3,000,000 26/9/2024 172a Bobbin Head Road 446 4 3 2 $2,750,000 28/9/2024 51 Murdoch Street 1220 4 2 2 $3,800,000 28/9/2024 33 Boomerang Street 942 4 3 2 $4,800,000 29/7/2024 6 Curagul Road 3175 6 6 4 $5,360,000 2/8/2024 11 Kedumba Crescent 1075 4 3 2 $2,355,000 17/8/2024 34 Normurra Avenue 955 3 2 2 $2,652,500 24/8/2024 26 Curagul Road 790 5 2 2 $3,610,000 16/9/2024 258 Bobbin Head Road 1015 5 2 2 $3,000,000 24/9/2024 37 Normurra Avenue 930 4 2 2 $2,750,000 28/9/2024 9 Hartley Close 986 4 3 2 $2,970,000
PROUDLY SPONSORING THE WAHROONGA FOOD & WINE FESTIVAL PROUDLY SPONSORING THE WAHROONGA We’re proudly sponsoring the upcoming Wahroonga Food and Wine Festival. This year promises to deliver a sensational culinary experience amidst the picturesque setting of Wahroonga Park. Save the date now! Sunday 27th October, 11am to 5pm and it’s free for all to attend. What’s in Store? Get ready to meet the passionate winemakers and indulge in tasting and purchasing their premium and award-winning wines. With over 130 wines from 30 wineries to sample, your tastebuds are in for a treat. And that’s not all – complementing the wines, you’ll find a diverse selection of gourmet food stalls offering delectable cuisines from around the world and local produce to savor. The event is family-friendly and all ages, including furry friends on a leash, are welcome. Enjoy live music performances all day on the rotunda stage, featuring talented local school bands, contemporary musicians and entertainers. Don’t forget to drop by and meet our team at the Ray White Upper North Shore stand where we will have incredible giveaways and an exciting prize on offer!
★★★★★ Campaign was seamless “We have dealt with Matt for many years, seeking his advice and knowledge in our local area. When it came time to sell our home, there was no decision to be made about who we would trust to list with. Matt went above and beyond to help us prepare, as we were interstate at the time. Communication was excellent, keeping us informed daily. The campaign was seamless due to his expertise and professionalism and he got us the result we were hoping for. We could not recommend him highly enough.” VENDOR - JACKIE & PAUL, 40 KIRKPATRICK STREET, NORTH TURRAMURRA ★★★★★ Matt is a gem “Matt has excellent knowledge of the market. He taught us how to listen and respond to it. Because of this, our beautiful home was sold in 12 days, way ahead of auction day. Negotiation was fast and proper, and the price reached was fair to both the vendor and the purchaser. Matt, you are a gem. We would have no hesitation in recommending you to our friends and relatives.” VENDOR - 24 KARUAH ROAD, TURRAMURRA ★★★★★ Best agent ever “Matt Bolin has extensive knowledge of the market, vast sales experience, and exceptional communication skills, which were invaluable in selling our property. He kept everyone involved well informed at all times and always answered any questions we had within minutes. Matt’s team at Ray White was also extremely professional and efficient, which was an added bonus. We would only choose Matt Bolin to sell our property. In our experience, no one else comes anywhere near him.” VENDOR - ANNE & JOHN, 39 ASHMORE AVENUE, PYMBLE A WORD FROM MY CLIENTS Matt Bolin Partner 0417 269 023 | matt.bolin@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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