Normanhurst MARKET UPDATE Q4 FY24-25 Courtesy of Thomas Merriman Ray White Upper North Shore
Six months into 2025 and the start of a new financial year makes it the perfect time to check in on the property market. We’re halfway through the calendar year, and in most suburbs across the Ku Ring Gai and Hornsby council areas, we’d typically expect to be halfway through the annual sales volume. However, we’re tracking significantly lower. Off the back of a slower sales year in 2024, 2025 is also seeing fewer listings - not just fewer sales. Longer days on market and overpricing continue to be challenges, and there’s been a noticeable lack of fresh stock to rejuvenate the market. March to May listings were down nearly 50% compared to 2023 and 2024 averages, though there was a slight uptick in late May. These low stock levels may be contributing to price stability. Current median house prices: Ku Ring Gai LGA: $3,300,000 (2.8% annual growth) Hornsby LGA: $1,850,000 (4% annual growth) Sydney: $1,639,000 Australia: $932,000 This reinforces the Upper North Shore’s position as one of the most premium and resilient markets in both Sydney and Australia. Median sale values have been lifted by increased interest in premium (new build) stock and development sites. Entry-level prices have also risen, while middle-tier values have softened. This skews the median price data upward. HAPPY NEW FINANCIAL YEAR! *All data sourced from Neoval, Ray White, Domain In Hornsby LGA, top residential sales are around $3 million, with development sites reaching $6–12 million. Around 80% of sales fall between $1.5m and $3m, with only 20 sales above $3m. In Ku Ring Gai LGA, high-end residential sales can reach $14–18 million, with an average top end of $6 million. About 65% of sales exceed $3 million, 34% fall between $1.5m and $3m, and just 1% are below $1.5m. Buyer interest remains strong, driven by schools and infrastructure, despite low stock levels. Multi-generational family demand is also rising across the Upper North Shore. Ray White continues to see strong performance through auction campaigns, achieving shorter days on market and, on average, 12% higher prices than competitors, backed by third- party data. We expect stock levels to rise as sellers aim to get ahead of the Spring market while competition is still low. There’s speculation of another rate cut in August, and potentially more by year-end. If stock levels increase, lower interest rates may help balance supply and demand. If you’d like a property report on any NSW suburb, feel free to reach out to me or my team. Thomas Merriman 0401 840 859 thomas.merriman@raywhite.com
FAST FACTS NORMANHURST Source: Pricefinder 2025 APRIL - JUNE 2025 APRIL - JUNE 2024 APRIL - JUNE 2025 APRIL - JUNE 2024 12 14 8 5 APRIL - JUNE 2025 APRIL - JUNE 2024 APRIL - JUNE 2025 APRIL - JUNE 2024 $1,846,250 $1,913,000 $1,455,000 $1,315,000 $1,857,792 $2,037,786 $1,410,375 $1,159,000 $2,300,000 $2,765,000 $1,688,000 $1,490,000 1. NUMBER OF HOUSE SALES HOUSE SALE PRICE NUMBER OF UNIT SALES UNIT SALE PRICE 2. AVERAGE HIGHEST MEDIAN
HIGHLIGHT SALES BY THOMAS MERRIMAN FY24-25 11 Harris Road, Normanhurst 6B Campbell Avenue, Normanhurst 48A Hinemoa Avenue, Normanhurst 2 Arianna Avenue, Normanhurst 103 Pennant Hills Road, Normanhurst 100 Denaman Parade, Normanhurst SOLD $2,465,000 SOLD $1,650,000 SOLD $1,862,500 SOLD $2,025,000 SOLD $1,510,000 SOLD $1,730,000 5 4 1 4 2 2 3 3 2 5 3 2 4 2 1 3 2 2
WHY SELL WITH RAY WHITE UPPER NORTH SHORE? Sales Volume Ray White Competitor 1 Competitor 2 Competitor 3 Competitor 4 0 200 400 600 800 1000 Sales Value Ray White Competitor 1 Competitor 2 Competitor 3 Competitor 4 $0 $500,000,000 $1,000,000,000 $1,500,000,000 $2,000,000,000 $2,500,000,000 Source: CoreLogic Market Scorecard FY24-25 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 3,381 2,785 27,271 23,617 59 49 21 16 RAY WHITE UPPER NORTH SHORE MARKET AVERAGE Source: Domain published listings FY24-25
Honest, Accountable and Reliable “One thing about Thomas that really stood out to me was the way he can rationalise his ideas and back it up with evidence and facts. Real estate is an area of uncertainty and it makes a huge difference when some one can filter out the unnecessary information in an ocean of data, personal opinions and rumours. He is also a strategist who won’t make judgement calls based on a hunch. Every move he made with my property’s sale was calculative and safe. Other people involved his team were just as professional and reliable. The way they presented my property attracted more than anticipated number of buyers. Thomas’s excellent negotiation & communication skills then came into play. In less than 3 weeks of marketing the contract was exchanged. I have nothing but praise and gratitude for Thomas & his team..” SHAMS BIRUNI - 7/15 HUDDART AVENUE, NORMANHURST Capable leadership in a softening market “Thomas demonstrated a thorough knowledge of the local market dynamic. He and his team of professionals provided clear and timely communications. An acceptable offer was received prior to auction. Overall experience was excellent and would not hesitate to recommend Thomas and his team.” NICHOLAS GIBSON - 6B CAMPBELL AVENUE, NORMANHURST Knowledgeable, organised and responsive “Tom has a deep understanding of the Normanhurst market and of buyers in the area. Tom and his team were very organised and responsive (despite the number of questions and comments from me). Tom came up with a marketing approach which led to more enquiries, inspections and bidders than I expected. I would appoint Tom again if I needed to sell in Normanhurst again.” FRANCIS YUAN - 7 NICHOLAS CRESCENT, NORMANHURST A WORD FROM MY CLIENTS Thomas Merriman 0401 840 859 thomas.merriman@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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