Market update OCTOBER - DECEMBER 2024 Courtesy of Coco Cui Roskam Ray White Upper North Shore
As we move into 2025, Sydney’s real estate market is recalibrating after a year of mixed results, offering both challenges and new opportunities for buyers, sellers and investors. The spring of 2024, usually a peak selling season, was slower than expected. Nationally, sales volumes fell 4% below the five-year average, but Sydney’s Upper North Shore stood out with a more significant dip - down 15.1% compared to historical trends, according to CoreLogic. This slowdown was attributed to a mix of cautious buyer sentiment, higher stock levels, and longer median selling times, which increased to 32 days from 27 in 2023. My key highlights from 2024: • I sold 13 properties last quarter, breaking 3 street records and 1 complex record • A total of 50 properties sold in 2024, with sales reaching $192.8 million • 14 street records broken, showing demand for premium locations • I received multiple industry awards due to my deep local knowledge and expert insights. Looking ahead, the market in 2025 is expected to experience gradual adjustments. The easing of mortgage stress and a significant rise in building approvals (hitting a 22-month high in late 2024) suggest a more stable environment could emerge, particularly in sought-after areas like the Upper North Shore. The Upper North Shore still remains popular for house sales for several reason: 1. Lifestyle and Amenities: a more suburban lifestyle with proximity to nature, parks and quality schools. 2. Green Space: many areas have abundant greenery, with national parks and bushland reserves offering outdoor activities. 3. Top Schools: home to some of Sydney’s best public and private schools, a huge draw for families. Good education options drive the demand for housing in these areas. 4. Strong Investment: the area has historically shown strong capital growth, making it attractive for buyers looking for long-term investment potential. For sellers, standing out in a competitive landscape will require smart, strategic pricing and a deep understanding of market conditions. Buyers, on the other hand, may find opportunities especially if mortgage pressure begins to ease. Sydney’s real estate market remains a landscape of opportunity, but only for those who are prepared to navigate the shifting tides. Whether you’re buying, selling, or investing, 2025 promises both challenges and rewards, with the potential for exciting returns for those ready to act with insight and strategy. If I can assist with your property goals or if you wish to understand your property’s updated value, please reach out anytime. Coco Cui Roskam 0422 683 409 coco.roskam@raywhite.com LOOKING BACK ON 2024, AND WHAT TO EXPECT IN 2025
FAST FACTS ST IVES & ST IVES CHASE Source: Pricefinder 2024 1. NUMBER OF SALES HOUSES Q4 2024 Q4 2023 ST IVES 78 66 ST IVES CHASE 12 8 3. AVERAGE SALE PRICE HOUSES Q4 2024 Q4 2023 ST IVES $3,321,967 $3,231,955 ST IVES CHASE $2,926,583 $3,172,500 4. HIGHEST SALE PRICE HOUSES Q4 2024 Q4 2023 ST IVES $6,342,800 $7,100,000 ST IVES CHASE $3,800,000 $6,250,000 HOUSES Q4 2024 Q4 2023 ST IVES $3,080,000 $3,020,000 ST IVES CHASE $2,958,000 $2,787,500 2. MEDIAN SALE PRICE
HIGHLIGHT SALES BY COCO CUI ROSKAM 10 Garrick Road, St Ives 3 Romney Road, St Ives Chase 8/15 Eastern Arterial Road, St Ives 105 Cambourne Avenue, St Ives 47 Beechworth Road, Pymble 35 Lofberg Road, West Pymble 1 Banool Avenue, St Ives 5 Ottway Close, St Ives 5 5.5 4 3 2 2 5 3 2 6 4 3 6 4 2 5 3 2 5 5.5 2 5 4 2
WHY SELL WITH RAY WHITE UPPER NORTH SHORE? 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 FY24 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 1,348 1,016 906 675 18 13 54 36 RAY WHITE UPPER NORTH SHORE MARKET AVERAGE Source: Domain published listings FY24
A WORD FROM MY CLIENTS Incredibly responsive “I had the pleasure of working with Coco to sell our home, and I couldn’t be more grateful for her expertise and dedication. Despite the challenging market conditions, she managed to secure a great price for our property. From the beginning, Coco was incredibly professional, responsive, and attentive to our needs. She guided us through every step of the process, providing valuable insights and advice to make sure we were positioned for success. I highly recommend Coco for all vendors and buyers.” VENDOR - ST IVES Extremely impressed “I was extremely impressed with the entire sales process. Coco guided me through every stage. I was kept informed throughout the campaign and was so happy with the result. Thank you Coco.” VENDOR - ST IVES Couldn’t be happier with the results “I couldn’t be more thrilled with the experience of working with Coco. From start to finish, she was professional, knowledgeable, and dedicated to selling my home quickly and at the best price possible. Coco made the entire process seamless, and I couldn’t be happier with the results - she truly exceeded my expectations!” VENDOR - PYMBLE Coco Cui Roskam 0422 683 409 coco.roskam@raywhite.com CHAIRMAN’S PERFORMER 24-25 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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