Ray White Hornsby

Auctions during the first quarter of 2021 performed incredibly well, with an average auction clearance rate of 97%. Most auctions were hotly contested, with registered bidders creating competition to push results over the reserve price in most instances. Buyer sentiment continues to be confident with the low interest rate environment clearly helping buyers make offers they would not have been able to go to 12-18 months ago. Our outlook for 2021 remains positive, with underlying economic conditions and market sentiment continuing to drive demand for Upper North Shore property. Our PropertyManagement division has also seen renewed interest from tenants, with average days on market for houses down below 14 days. Rental yields on houses have increased further this year, possibly already by 2-3%. The unit market is still suffering from some oversupply issues which has impacted rental returns. Stock is slowly moving so we expect to see this market starting to firm up again towards the end of 2021. If you are thinking of selling or renting your property this year or would like any general advice and guidance on the market, please reach out to one of our experienced team. We look forward to serving you. RayWhite Upper North Shore Hornsby Team What’s happening in our market? TheUpperNorth Shore propertymarket seems to have found awhole newgear in 2021, with buyer demand far outstripping supply.