Quarterly market update JANUARY - MARCH 2023 Courtesy of Giuseppe Princi Ray White Upper North Shore
Welcome. It’s been an incredibly interesting start to the year for the property market. With record low levels of stock and notably high levels of buyers across the Upper North Shore, a competitive environment has encouraged renewed confidence in the market despite negative media speculation. Higher levels of buyer activity is evidenced by our auction bidder numbers; in November nationally there were 2.2 active bidders and 3.6 registered bidders per auction, which increased to 2.8 active and 4.9 registered in February. This rise in buyer traffic has contrasted with a decline in new listings, almost 30% down on previous years. The strong activity is clear yet many potential vendors seem reluctant to take advantage of these ideal market conditions. This is the news many locals may have been waiting for, according to NEOVAL, house prices bottomed out in December 2022 and have increased by 2.7% since then. It appears that the worst of the downturn is over. Prices have stabilised and with this competitive environment we may see further gains. Some sellers have a perception that selling in spring or autumn can be advantageous due to weather and gardening conditions, but in reality, there’s no ‘wrong’ time to buy or sell property. The factors that trigger buying or selling a home typically have nothing to do with the seasons but are driven by much larger factors such as changes in work or family dynamics. While interest rate rises will no doubt continue to restrict buyers’ borrowing capability, increases in migration and international investment returning will continue to put pressure on housing availability. This combined with the increasing level of eager, qualified buyers is creating a market ripe for competition. The agent who will drive the most competition to your property is the agent who will deliver you the best price. Ray White Upper North Shore continues to lead the area as the highest selling agency and was recently awarded Agency of the Year in eight suburbs by RateMyAgent; the only awards based on customer satisfaction. If you’re considering selling, please get in touch with me. My award-winning team and I would be delighted to support you on your property journey. Giuseppe Princi 0433 641 046 giuseppe.princi@raywhite.com WHAT’S HAPPENING IN YOUR MARKET
FAST FACTS ST IVES – LAST 12 MONTHS Source: realestate.com.au 3.8% RENTAL YIELD 112 UNITS SOLD SOLD $980,000 MEDIAN UNIT PRICE $680 MEDIAN RENTAL PRICE LEASED PER WEEK
HIGHLIGHT SALES BY GIUSEPPE PRINCI & RAY WHITE UPPER NORTH SHORE 76/212 Mona Vale Road, St Ives 26/18 Shinfield Avenue, St Ives 5/2 Newhaven Place, St Ives 27/18 Shinfield Avenue, St Ives G03/126 Killeaton Street, St Ives 25/30-34 Stanley Street, St Ives SOLD $658,000 SOLD PRIOR TO AUCTION SOLD $930,000 SOLD $962,000 SOLD PRIOR TO AUCTION SOLD $1,000,000 1 1 1 1 1 1 2 2 1 2 2 1 2 2 1 2 2 1
Ray White Upper North Shore was voted the Number 1 Agency of the Year across eight suburbs in the RateMyAgent 2023 Awards. These highly regarded real estate awards are based on verified customer reviews. SIGNS OF SUCCESS raywhiteuppernorthshore.com.au Source: CoreLogic 28/03/2022 to 28/03/2023 (2067-2082) Competitors Ray White Ray White Upper North Shore sells more properties across the Upper North Shore than any other agency. Here’s the proof. 185 182 155 133 114 80 93 458 92 97 Lindfield | Roseville St Ives | St Ives Chase Turramurra | Warrawee Wahroonga | Pymble
A WORD FROM MY CLIENTS Giuseppe Princi Sales 0433 641 046 giuseppe.princi@raywhite.com Exceptional knowledge “Giuseppe’s exceptional market knowledge - both overall and local - and guidance from start to end made all the difference. The communication was perfect. We will highly recommend him to anyone interested in selling their property.” VENDOR - G03/126 KILLEATON STREET, ST IVES Easy & smooth process “It was a pleasure to have Giuseppe sell my apartment, off market and in under four weeks. The whole process was very easy and smooth. Giuseppe kept me informed and consulted with me through the whole process. I would highly recommend Giuseppe and his team.” VENDOR - 25/30-34 STANLEY STREET, ST IVES Perfect communication “Giuseppe and his team were very professional in the way they handled the sale of our apartment. The communication was perfect and we were kept in the loop with all progress through the sale. I would highly recommend Giuseppe to my family and friends. Thank you again for everything!” VENDOR - 5/2-4 NEWHAVEN PLACE, ST IVES 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 Head Office: 2 Turramurra Avenue, Turramurra NSW 2074 45-47 Hunter Street Hornsby NSW 2077
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