Turramurra 2 0 2 2 Y E A R I N R E V I E W Courtesy of Adam McKay Ray White Upper North Shore
After an extraordinary two years of pandemic conditions, we are welcoming the return of a more normal lifestyle and the ability to move freely once again around our cities and the globe. It is clear now that the peak in real estate prices occurred late 2021 and we’ve seen a reversion to more historical norms for the residential property market. Whilst it’s easy to be swept up in the media negativity, it is important to keep in mind that any declines are off rapid and record-breaking growth. Although prices have moderated, demand is continuing to outstrip supply. The Upper North Shore has been notably resilient over the past 12 months and its desirability remains strong. Of particular note, the appetite for renovated or newly built homes has increased substantially due to inflation in the construction industry. This has resulted in fully renovated homes and new or near new builds selling well above expectations, with multiple buyers creating competition. The McKay Team has broken multiple records this year in the new build market, including record prices for Meadowbank Homes, Homestead Homes, Charleston Homes and suburb records in Wahroonga and Turramurra. We see this trend continuing as building costs increase further and the availability of knock down/rebuild sites and tradespeople remains low. With borders now opening and all the factors that make the Upper North Shore a great place to live, international buyers and expats will further bolster the demand for quality property in our exclusive areas. Highlights from 2022: • 27 Braeside Street, Wahroonga: I sold this property at auction for $13,030,000, the highest price ever achieved at auction on the Upper North Shore. • 397 Bobbin Head Road North Turramurra was another landmark sale offering an exceptionally rare 20,000sqm on two titles. It sold for $11,025,000, a North Turramurra record. • I had the privilege of selling 186 Bannockburn Road Turramurra for $6,720,000, setting the highest sale price ever achieved for a Homestead Home. I also sold 7 Evelyn Avenue Turramurra for $6,500,000. Both sales were off-market transactions. • Ray White Upper North Shore’s successes in the Ray White Network awards, including the award for #1 International Ray White Office. This is a reflection of our high achieving and exceptionally hardworking team, our market leading strategies and our clients who are committed to us throughout the journey. I would like to take this opportunity to thank you for your support and best wishes for the NewYear. If you are thinking of making a move in 2023 or would like to discuss your property goals please call me on 0412 133 173. Adam McKay 0412 133 173 adam.mckay@raywhite.com WHAT’S HAPPENING IN OUR MARKET?
FAST FACTS Source: Pricefinder 1 January 2022 – 31 December 2022 1. HOUSE 2022 2021 TURRAMURRA 168 223 NUMBER OF SALES TURRAMURRA 65.6% 5. AUCTION CLEARANCE RATE TURRAMURRA March & November 6. PEAK SELLING PERIODS TURRAMURRA $11,200,000 49 Ku-Ring-Gai Avenue Turramurra 7. HIGHEST HOUSE SALE 2. MEDIAN SALE PRICE HOUSE 2022 2021 TURRAMURRA $2,790,000 $3,000,000 3. AVERAGE SALE PRICE HOUSE 2022 2021 TURRAMURRA $3,130,909 $3,165,228 HOUSE 2022 2021 TURRAMURRA -3.4% +40.8% 4. MARKET GROWTH
ADAM MCKAY’S HIGHLIGHT 2022 SALES 186 Bannockburn Road, Turramurra 22 Alice Street, Turramurra 7 Evelyn Avenue, Turramurra 33 Karuah Road, Turramurra 11 The Chase Road, Turramurra 39 Selwyn Street, Pymble 21 Katina Street, Turramurra 73 Richmond Avenue, St Ives SOLD $6,720,000 SOLD $5,950,000 SOLD $6,500,000 SOLD $4,728,000 SOLD $6,228,000 SOLD $4,820,000 SOLD $6,450,000 SOLD $4,970,000 4 2 5 4 2 5 4 2 5 5 2 5 4 2 5 4 4 5 4 2 6 6 4 6
51 Gilroy Road, Turramurra 1 Nambucca Street ,Turramurra 10 Nambucca Street, Turramurra 41 Gilroy Road, Turramurra 3 Coolabah Avenue, Turramurra 47 Fairlawn Avenue, Turramurra 44 The Chase Road, Turramurra 7 Wyeena Close, Wahroonga SOLD $3,860,000 SOLD $4,950,000 SOLD $4,350,000 SOLD $3,100,000 SOLD $4,720,000 SOLD $4,400,000 SOLD $3,700,000 SOLD $4,250,000 2 2 4 3 2 5 3 2 5 3 2 6 3 2 5 2 1 4 3 4 4 4 2 5
YOUR LOCAL AREA EXPERT Known as a high achiever with a driving passion for real estate, Adam McKay and Ray White Upper North Shore go hand in hand as a match sure to exceed all your expectations. Specialising in prestige sales, in particular new builds and estate homes, he sells more newly constructed homes than any other agent on the Upper North Shore and has set estate home sale records across multiple suburbs. Often described as “not your typical agent”, Adam‘s easy going nature, matched with absolute professionalism and no nonsense approach has earned him a committed clientele with many people returning to use his services on a regular basis. He has a reputation for honesty with his clients, telling them what they need to hear to achieve the best possible result, rather than just what they want to hear. With a decade of real estate experience and over half a billion dollars worth of property sold, including multiple suburb and street records, Adam is a strong force in the business - thriving on bringing innovative ideas and new ways to market your property which ensures he is always ahead of the game. An expert on all points of the real estate spectrum, Adam’s aptitude for negotiating even under the most difficult of circumstances and his strong connections with a large pool of buyers, ensures that his services are always an investment for his valued clients. Ray White Upper North Shore’s industryleading brand, powerful reputation and superior marketing resources teamed with Adam McKay is the smart choice for your next residential sale or purchase. He guarantees upfront advice, transparent communication, and impressive results.
Adam McKay Lead agent with a wealth of industry expertise, outstanding communication and market knowledge, Adam understands what buyers are looking for and knows how to present your property in the best light to drive interest and create competition. Lauren Gorman Ensures your campaign runs smoothly and is the reassuring influence of the team facilitating all pre-sale preparations and is your contact for administration of the marketing process. Georgia Low An associate agent and is on the front line of our buyer engagement. Her years of experience both in support and sales roles in the industry are invaluable. As a team we can provide the best possible outcome for you and your property and deliver amazing results. T he McKay Team
A WORD FROM MY CLIENTS Adam McKay 0412 133 173 adam.mckay@raywhite.com 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 ★★★★★ Expert analysis, professional advice “Having been involved myself in building and real estate on the upper north shore for over 40 years, I believe no one knows the market better than Adam McKay. I thoroughly recommend Adam as ‘the’ agent to sell or buy residential property. I look forward to many more real estate dealings with him.” VENDOR REVIEW - 7 EVELYN AVENUE, TURRAMURRA ★★★★★ Highly experienced “Despite the challenging conditions, Adam managed to sell our house for a price that was within expectations. From the start, we found Adam very engaging and honest, with a strong knowledge of market conditions. We highly recommend Adam to anyone looking for a good and trusted agent in the upper North Shore.” VENDOR REVIEW - 1 NAMBUCCA STREET, TURRAMURRA ★★★★★ Very happy “We have known Adam for a few years now. We were very happy with the service he and his team provided for the sale of 11 The Chase Road, Turramurra. He has sold a lot of properties like ours in the area and he was the clear choice for us when selling our home. He was able to negotiate a sale prior to auction, setting a record price in the process. We would recommend him to anyone looking to sell their property in the area.“ VENDOR REVIEW - 11 THE CHASE ROAD, TURRAMURRA
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