Market update J A N UA R Y 2 0 2 3 Courtesy of Scott Phillips Ray White Upper North Shore
Desirability of property on the Upper North Shore remained strong throughout 2022. The luxury market continued to flourish and we expect to see on-going demand for premium Killara, Gordon and Lindfield homes throughout this year, with a renewed interest in tennis court properties. After an absence from the market in 2022, developers returned towards the end of the year and we are seeing stronger demand for knockdown/rebuild or renovation opportunities already in 2023. The eight consecutive interest rate increases delivered by the RBA throughout 2022 did send a rate shock through the market in general. However, this has now had a year to be absorbed and the initial shock has subsided as buyers recalibrate budgets. Solid buyer numbers attending our open inspections in the last quarter saw the return of some properties achieving street and suburb record sale prices for our vendors. In addition, international buyers and expats will further bolster the demand for quality property in our exclusive areas. Stock levels in 2022 were around 30% below 2021 and we are seeing a lack of stock continuing into this year. With Killara, Gordon and Lindfield recognised as highly desirable suburbs due to their access to transport, the quintessential North Shore lifestyle on offer and exceptional schools, demand for homes will remain high. Ample buyers are still in the market left over from the last quarter, joined by new buyers commencing their search at the beginning of this year, creating a large pool competing for limited stock. As a result, sales prices remain historically high and above the growth trend lines. If you have been considering a sale, but held off due to COVID, now is a good time to capitalise on this extensive buyer pool prepared to compete for your property. In addition, some analysts believe the RBA will hike rates further, creating a selling window in the first half of 2023 before buyers have to reassess their budgets once more. I would like to take this opportunity to thank you for your on-going support throughout last year. If you are thinking of making a move in 2023 or would like to discuss your property goals, please call me on 0402 272 575. Scott Phillips 0402 272 575 scott.p@raywhite.com WHAT’S HAPPENING IN OUR MARKET?
SELECTION OF RECENT KILLARA, GORDON AND LINDFIELD SALES Address Land Size sqm Sale Date Sale Price 54 Treatts Road, Lindfield 1,973 December $8,650,000 3 Guyong Street, Lindfield 1,366 December $3,570,000 11 Lightcliff Avenue, Lindfield 1,064 December $4,230,000 26 Lady Game Drive, Killara 1,000 December $2,610,000 7a Kittani Place, Killara 848 December $3,100,000 47 Highfield Road, Lindfield 1,554 December $5,700,000 21 Eustace Parade, Killara 696 December $2,725,000 33 Bayswater Road, Lindfield 809 December $4,400,000 36 Rosebery Road, Killara 1,934 December $10,750,000 17 Cocupara Avenue, Lindfield 1,107 December $2,900,000 3 Eustace Parade, Killara 698 December $4,120,000 20 Warwick Street, Killara 1,035 December $3,750,000 23 Grassmere Road, Killara 708 December $3,085,000 48 Spencer Road, Killara 961 November $2,880,000 26 Russell Avenue, Lindfield 1,239 November $5,700,000 9 Highfield Road, Lindfield 1,492 November $3,650,000 16 Dorman Crescent, Lindfield 1,094 November $3,100,000 2 Clarence Avenue, Killara 1,675 November $6,300,000 52 Charles Street, Killara 766 November $2,980,000 47 Fiddens Wharf Road, Killara 786 November $3,050,000 30 Norfolk Street, Gordon 1,115 November $4,300,000 15a Lennox Street, Gordon 1,300 November $3,930,000 10 Vale Street, Gordon 1,018 November $3,560,000 38 Springdale Road, Killara 1,222 November $6,050,000 66 Cecil Street, Gordon 1,625 November $5,600,000 7 Maples Avenue, Killara 993 November $3,700,000 3 Koonawarra Avenue, Lindfield 841 November $2,400,000 12 Koola Avenue, Killara 904 October $5,050,000 96 St Johns Avenue, Gordon 974 October $3,900,000 6 Johnson Street, Lindfield 834 October $3,235,000 96 Highfield Road, Lindfield 1,094 October $2,725,000 18 Mackenzie Street, Lindfield 1,309 October $7,650,000 27 St Johns Avenue, Gordon 677 October $2,260,000 14 Quebec Avenue, Killara 920 October $2,950,000 38 Tryon Road, Lindfield 831 October $4,800,000 9 Provincial Road, Lindfield 1,056 October $3,880,000 33 Treatts Road, Lindfield 929 October $3,750,000 26 Provincial Road, Lindfield 1,056 October $4,210,000 20 Northcote Road, Lindfield 1,364 October $6,450,000 23 Khartoum Avenue, Gordon 1,296 October $6,600,000 Source: realestate.com.au 1 October – 31 December 2022
Another street record Scott and Rosanna did a terrific job selling our property. They provided great insight into the state of the property market, were extremely responsive to all our questions, very helpful in recommending local tradespeople to prepare our house for the market and kept us fully informed about progress along the way. Extremely professional and unfailingly friendly, they also managed to achieve a street record price for our home. A great job! VENDORS – ALISON & FREDDY, GORDON Exceeded all expectations There’s a lot more to selling your family home than most people realise. Scott provided the market knowledge, advice, support and contacts we needed, and pulled everything together with a brilliant marketing campaign. We are very pleased with our result and we know we couldn’t have done it without Scott. He was recommended to us by friends and still exceeded expectations. VENDORS – JENNY & JOHN, KILLARA Genuine, knowledgeable and highly recommended Scott did an excellent job selling our property and achieved the street record. We were absolutely delighted with the result. From providing hints and tips while building our house to a detailed plan for sale and marketing strategy, Scott guided us well through the process. I highly recommend him as your agent. VENDOR - HARRY, KILLARA A WORD FROM MY CLIENTS 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 | 9489 7474 | 9489 1961 Head Office: 2 Turramurra Avenue, Turramurra NSW 2074 45-47 Hunter Street Hornsby NSW 2077 Scott Phillips Sales 0402 272 575 scott.p@raywhite.com WINNER OF RATE MY AGENT’S ‘AGENT OF THE YEAR KILLARA’ 2022, 2021, 2020 AND 2019.
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