Roseville Chase Market update JULY - DECEMBER 2024 Courtesy of Jessica Cao Ray White Upper North Shore
As we step into 2025, Sydney’s real estate market finds itself navigating a dynamic period of recalibration and opportunity. The spring selling season of 2024, traditionally a peak time for selling, proved challenging, with national sales volumes sitting at 4% below the five-year average. Sydney stood out as a key underperformer, with sales volumes dropping 15.1% below historical trends, according to CoreLogic. Increased stock levels and cautious buyer sentiment extended median selling times to 32 days, up from 27 days in 2023. Yet, there were moments of resilience. The national median dwelling price reached a historic high of $800,000 in November, per Reb, underscoring the ongoing demand for housing despite affordability pressures. On the rental side, the once-rapid growth tempered to an annual increase of 5.3%, the slowest pace since April 2021, reflecting shifting household dynamics and stretched affordability. Looking ahead, 2025 is expected to bring gradual market adjustments. Analysts suggest that Sydney prices could decline by 1-5%, offering some relief to buyers, especially if anticipated interest rate cuts materialise mid-year. The easing of mortgage stress and an upswing in building approvals, which hit a 22-month high in late 2024, signaling potential stabilisation. For sellers, adapting to heightening competition and strategic pricing will be key to success in this evolving market. As the year unfolds, Sydney’s real estate market is poised for a blend of challenges and opportunities, providing a promising backdrop for buyers, sellers, and investors ready to navigate this new landscape. If you would like to discuss the property market trends, come to our monthly FREE coffee event. Join us for a coffee at your favorite local café. Mark your calendar, I look forward to seeing you there! East Lindfield Dukes Green Cafe 17 January 2025 9.00am – 11.00am 4 April 2025 9.00am – 11.00am East Killara KillaBrew Coffee, Killara Bakery and Groceries 7 February 2025 9.00am – 11.00am 2 May 2025 9.00am – 11.00am Roseville Chase Echo on the Marina Roseville 7 March 2025 9.00am – 11.00am 6 June 2025 9.00am – 11.00am Jessica Cao 0466 877 260 jessica.cao@raywhite.com REFLECTING ON 2024 AND SETTING THE STAGE FOR 2025
FAST FACTS Source: Pricefinder 2024 1. HOUSE JULY - DECEMBER 2024 JULY - DECEMBER 2023 ROSEVILLE CHASE 7 6 NUMBER OF SALES HOUSE JULY - DECEMBER 2024 JULY - DECEMBER 2023 ROSEVILLE CHASE $3,010,000 $3,245,000 2. MEDIAN SALE PRICE 4. HIGHEST SALE PRICE HOUSE JULY - DECEMBER 2024 JULY - DECEMBER 2023 ROSEVILLE CHASE $4,900,000 $5,250,000 HOUSE JULY - DECEMBER 2024 JULY - DECEMBER 2023 ROSEVILLE CHASE $3,029,286 $3,370,333 3. AVERAGE SALE PRICE Sale Date Address Area sqm Bed Bath Car Sale Price 17/08/24 8 Warrane Road 681 4 2 2 $3,510,000 12/09/24 50 Malga Avenue 710 3 2 2 $3,010,000 17/09/24 1 Loorana Street 900 3 2 - $2,950,000 28/09/24 11 Warrane Road 743 5 4 2 $4,900,000 01/10/24 2 Barana Parade 700 4 2 2 $2,710,000 09/11/24 29 Warrane Road 841 4 3 3 $4,535,000 10/11/24 41 Allard Avenue 1,085 5 3 4 $3,600,000 ALL SALES IN ROSEVILLE CHASE JULY – DECEMBER 2024
NO. 1 AUCTION AGENT IN YOUR SUBURB NO MATTER WHAT MARKET CONDITIONS ARE LIKE, WE GET THE JOB DONE WELL FOR YOU. AVERAGE NUMBER OF BIDDERS 4 .7 AUCTION CLEARANCE RATE ACROSS ALL SUBURBS (AVERAGE AUCTION CLEARANCE RATE ACROSS ALL AGENCIES IN SYDNEY: 49%*) 82% Data from January 2024 to December 2024 *Data from SQM Research SUBURB/ STREET/ BLOCK RECORD PRICE 9 SOLD BEFORE AUCTION 6 TOTAL AUCTION CAMPAIGNS 45
YOUR LOCAL EXPERT – JESSICA CAO • Your lead agent speaks your buyer’s language (English and Mandarin) • Access the largest buyer database in the Upper North Shore • A dedicated team of four at your service • Sell with the most experienced auction agent in your market with the highest clearance rate (in 2024): • 82% across all suburbs • 4.7 bidders on average per auction • Proudly holding 182 5-star reviews and counting… **reviews overall on realestate.com.au
A WORD FROM MY CLIENTS Jessica Cao 0466 877 260 jessica.cao@raywhite.com Sold in 12 days, free of stress “Working with Jessica made our house sale so free of stress. She was open, honest and communication was clear at all times. I loved the WhatsApp to keep everyone in the loop. She listened to us and was friendly and caring while getting the job done. We sold in 12 days for a great price, which I don’t think we would have done with any other agent. We’ve bought and sold a few times and hopefully will use her again. I highly recommend Jessica.” VENDOR - ROSEVILLE Exceptional service and expertise “Jessica and her team did a fantastic job selling my parents’ house. They were thorough and reliable. They were also extremely helpful in recommending contractors and arranging quotes regarding related aspects of the sale. Jessica’s positive energy and extensive knowledge of the market and potential buyers ensured all bases were covered. If you are thinking of selling your house, I would highly recommend Jessica.” VENDOR - EAST LINDFIELD Wholeheartedly recommend Jessica “Selling property is stressful and easy to get depressed over, however from when we first sought her advice over a half year ago, every time we sought Jessica’s advice, she easily solved our concerns. We like her character very much and it is the reason why she is surrounded with a good team that works together to handle both vendor and buyer’s worries promptly. Highly recommend.” VENDOR - ROSEVILLE 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 CHAIRMAN’S PERFORMER 23-24
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