2022 Year in review Courtesy of Michael Dempsey 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 record-breaking growth. Although prices have moderated, demand continues to out-strip supply. The Upper North Shore has been notably resilient over the past 12 months, and its desirability remains strong. 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 borders now opening and all the factors that make the Upper North Shore desirable, international buyers and expats will further bolster the demand for quality property in our exclusive areas. A recent highlight was Ray White Upper North Shore’s success in the Ray White Network awards, with multiple award wins. 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. I would like to take this opportunity to thank you for your support and wish you all the best for the New Year. If you are thinking of making a move in 2023 or would like to discuss your property goals please call me on 0404 353 451 Michael Dempsey 0404 353 451 michael.dempsey@raywhite.com WHAT’S HAPPENING IN OUR MARKET?
FAST FACTS Source: Pricefinder 1 January 2022 – 31 December 2022 1. HOUSE UNIT 2022 2021 2022 2021 WAHROONGA 241 310 91 107 WARRAWEE 38 40 27 42 TURRAMURRA 168 223 108 141 NUMBER OF SALES WAHROONGA WARRAWEE TURRAMURRA 61.5% 66.7% 65.6% 4. AUCTION CLEARANCE RATE WAHROONGA October & November WARRAWEE February, May & November TURRAMURRA March & November 5. PEAK SELLING PERIODS WAHROONGA $14,500,000 33 Water Street, Wahroonga WARRAWEE $16,300,000 39 Cherry Street Warrawee TURRAMURRA $11,200,000 49 Ku-Ring-Gai Avenue Turramurra 6. HIGHEST HOUSE SALE 2. MEDIAN SALE PRICE HOUSE UNIT 2022 2021 2022 2021 WAHROONGA $2,480,000 $2,475,000 $1,050,000 $975,000 WARRAWEE $3,135,000 $4,010,500 $845,000 $900,000 TURRAMURRA $2,790,000 $3,000,000 $890,500 $1,000,000 3. AVERAGE SALE PRICE HOUSE UNIT 2022 2021 2022 2021 WAHROONGA $2,812,832 $2,830,469 $1,149,553 $1,186,762 WARRAWEE $3,568,263 $4,467,262 $1,008,000 $1,117,919 TURRAMURRA $3,130,909 $3,165,228 $1,096,449 $1,205,674
MICHAEL DEMPSEY’S 2022 HIGHLIGHT SALES 20 Chilton Parade, Warrawee 4 Walpole Place, Wahroonga 55 Water Street, Wahroonga 16 Berilda Avenue, Warrawee 9 Ada Avenue, Wahroonga 4 The Broadway, Wahroonga 122 Lucinda Avenue, Wahroonga 37 Mahratta Avenue, Wahroonga SOLD $5,620,000 SOLD $3,570,000 SOLD $4,150,000 SOLD $3,150,000 SOLD $5,000,000 SOLD $3,100,000 SOLD $2,975,000 SOLD $4,200,000 3 2 5 5 3 5 3 2 4 4 2 5 3 2 5 2 1 4 2 2 4 2 4 5
2022 AGENCY PERFORMANCE raywhiteuppernorthshore.com.au Source: Corelogic data 1 January 2022 - 31 December 2022 Competitors Ray White 2022 agency performance Turramurra, Warrawee & Wahroonga 212 243 300 250 200 150 100 50 0 83 48 42 38 25 23 23 13 99 65 47 43 35 25 30 24 Listing Volume
A WORD FROM MY CLIENTS Michael Dempsey 0404 353 451 michael.dempsey@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 Warm, friendly and professional “Michael did an exceptional job in the lead-up to making the decision to sell and throughout the process, including recommending services. He listens carefully and really interprets clients’ requirements. He was warm and professional. He stayed in touch, and responded to questions quickly whilst keeping us fully informed. We were in the hands of a real professional; and his friendly demeanour helped us to stay relaxed throughout. We could not recommend Michael more highly.” VENDOR REVIEW - 23 BILLYARD AVE WAHROONGA Great initiative and negotiation skills “Selecting an agent is a big decision. We chose Michael to sell our family home due to his genuinely positive attitude, initiative, and willingness to add value at every stage of the process. He provided weekly market updates and was always available to communicate on issues great or small. His energy, strategy, and negotiation skills were pivotal to getting a result we were all happy with. I would recommend Michael unreservedly.” VENDOR REVIEW - 39 EDWARDS RD WAHROONGA Personable and knowledgeable “Over a lengthy period of some years Michael patiently kept us informed of the market trends in our area. A pleasure to deal with, when the time came for our downsize, he was able to also recommend excellent specialists and tradies. The house sold fast! Michael is great to work with, has sound interpersonal skills and a friendly, knowledgeable manner. He is energetic, enthusiastic, and professional at all times. His ready accessibility throughout made the process straightforward and successful.” VENDOR REVIEW - 12 KU-RING-GAI AVE TURRAMURRA
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