The cool days and colder nights plus the glorious colours of the winter landscape bring an undeniable beauty and outstanding possibilities to the Upper North Shore. The property market is moving into more traditional patterns with winter being a quieter time, with lower stock levels yet excellent buyer numbers looking for their new homes. Many properties look and feel warm and welcoming throughout winter and provide an excellent opportunity to capitalise on the limited competition which has buyers with fewer properties to choose from and a desire to not miss out. This is being demonstrated in the many excellent sales and prices that we are achieving. A new federal government has now taken office and with that comes a different focus on property. The Labor government will look to make policies around sustainability, first home buyers and social housing. Alongside this we have rising interest rates and cost of living pressures that will impact the property market. The market though is not a level playing field with affluent areas such as the Upper North Shore much less impacted by the changing economy and always valued for its quality property, exceptional schools, transport options and beautiful surrounds. Although the media is running hot with stories of gloom, this is not the case in our market, which data shows is still performing strongly. Mid-year highlights: • Many strong sales amongst which 2 Lancaster Avenue, St Ives saw over 300 inspections and a record sale price for a new build in St Ives. • The Upper North Shore market remains high functioning with little gap between buyers and sellers, resulting in low days on market and good sale prices being achieved. • Many buyers are looking towards the traditionally strong Spring selling season with appraisal numbers up and stock numbers looking to be more significant during this period. • Dominic Perrottet has made moves to amend the much-hated stamp duty in the state. The recent budget allows first home buyers that purchase a property up to $1.5 million to be able to choose between paying stamp duty up front or a property tax each year, with this not having to be ongoing when the property is resold. If you would like advice and assistance buying and selling, please get in touch. We have the experience and record-breaking results to prove we get it right and are happy to have a confidential discussion any time. Coco Cui Roskam 0422 683 409 coco.roskam@raywhite.com WHAT’S HAPPENING IN OUR MARKET?
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