2022 Year in review Courtesy of of Eddie Yiu Ray White Upper North Shore
Emerging from an extraordinary two years of pandemic conditions, we are welcoming the return of a more normal lifestyle with the ability to move freely around our cities and the globe once again. It is clear now that the peak in real estate prices occurred late in 2021. Since then, we have seen a reversion to more historical norms for the residential property market. Whilst it is easy to be swept up in the media negativity, it is important to keep in mind that this follows rapid and recordbreaking growth. Although prices have moderated, demand continues to out-strip supply. The Upper North Shore has been notably resilient over the past 12 months. Notably, 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. We see this trend continuing as building costs increase further and the availability of tradespeople remains low. With ample buyers still in the market, we are seeing an ongoing lack of stock. Our area is highly desirable due to its transport, lifestyle and exceptional schools. With borders opening, all the factors that make the Upper North Shore a sought-after location mean international buyers and ex-pats will further bolster the demand for quality property in our exclusive areas. Highlights from the last quarter: • Ray White Upper North Shore made some recent notable sales. 397 Bobbin Head Road North Turramurra was a landmark sale offering an exceptionally rare opportunity. It sold for $11,025,000 – a North Turramurra record. • A number of luxury new build homes in St Ives set exciting records.12 Romney Street sold for $6.619m and 18 Kenthurst Road sold for $7,000,000, the highest price ever for a St Ives property. • Ray White Upper North Shore’s multiaward success in the Ray White Network awards. This is a reflection of our high achieving and exceptionally hard-working team, our market leading strategies and our clients who are committed to us throughout the journey. In other news, the NSW government’s new ‘First Home Buyer Choice’ scheme comes into effect from 2023 and will allow first home buyers the option of paying a lump sum up-front stamp duty or an annual yearly tax of $400 plus 0.3% of their property’s land value. I would like to take this opportunity to thank you for your support. If you are thinking of making a move in 2023 or would like to discuss your property goals please call me on 0416 128 229. Eddie Yiu 0416 128 229 | eddie.yiu@raywhite.com WELCOME TO YOUR MARKET UPDATE
FAST FACTS Source: Pricefinder 1 January – 31 December 2022 1. HOUSE UNIT 2022 2021 2022 2021 HORNSBY 118 194 298 419 NUMBER OF SALES HORNSBY August & November 5. PEAK SELLING PERIODS (LAST 3 YEARS) HORNSBY $3,925,000 211 Peats Ferry Road, Hornsby 4. HIGHEST HOUSE SALE 2. MEDIAN SALE PRICE HOUSE UNIT 2022 2021 2022 2021 HORNSBY $1,545,000 $1,680,000 $667,500 $675,000 3. AVERAGE SALE PRICE HOUSE UNIT 2022 2021 2022 2021 HORNSBY $1,418,577 $1605,594 $670,417 $678,905 1 January – 31 December 2022 1 January – 31 December 2021
HIGHLIGHT SALES IN 2022 5/33 Sherbrook Road, Hornsby 378 Peats Ferry Road, Hornsby 4/44 Burdett Street, Hornsby 15 Lodge Street, Hornsby 4/1-5 Linda Street, Hornsby 25A Clovelly Road, Hornsby 12/12 Muriel Street, Hornsby 2F Clovelly Road, Hornsby SOLD $771,000 SOLD $2,450,000 SOLD $685,000 SOLD $1,930,000 SOLD $715,000 SOLD $2,150,000 SOLD $767,500 SOLD $1,900,000 2 1 2 1 1 2 2 1 2 1.5 1 2 2 5 2 4 4 2 6 3 2 5 3 2
YOUR LOCAL AREA EXPERT, EDDIE YIU Patience, persistence, and individual attention to clients are vital elements of Eddie Yiu’s success in real estate. His polite manner and absolute commitment to integrity has made him a popular agent with both vendors and buyers. Living in Hornsby, Eddie is aware of the enormous potential for ongoing market growth. “As an experienced agent and exceptional negotiator, my strengths include my ability to listen, fulfill, and exceed the needs and expectations of my vendors. If you are thinking of making a move in 2023 or are curious to discuss any aspect of the market, please give me a call.”
A WORD FROM MY CLIENTS 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 Extremely professional “Eddie is extremely professional. His suggestions would maximise the value of the property. Eddie has excellent communication with his customers. His follow ups are always accurate, detailed and on time. Thanks, Eddie.” VENDOR – WENBIN, 2F CLOVELLY RD, HORNSBY Always contactable “Really appreciate Eddie showed us the house more than once and he is always contactable. Did a great job getting the buyer to understand the area and great communication skills with vendor. Highly recommended!” BUYER – JESS, 35 WILLIAM ST, HORNSBY Very pleased “Eddie was extremely professional in his approach to selling our unit. He provided good advice and kept us up to date throughout the sale period. We were very pleased with the final sale price and would highly recommend Eddie. We could not have asked for a better outcome - many thanks again Eddie.” VENDOR – CHRISTINA, 12/12-14 MURIEL ST, HORNSBY Eddie Yiu 0416 128 229 eddie.yiu@raywhite.com
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