As pandemic conditions eased throughout the world, so too did the Sydney property market, welcoming a return to steadier conditions in 2022. Post-lockdown, a perfect combination of low interest rates, pent-up demand and limited stock caused prices to surge across the Upper North Shore at a rate not seen in decades. As the frenzy has settled, price growth has eased to a steady rhythm with buyers increasingly drawn to high quality properties, like renovated or brand-new homes and apartments. Over 2022 my team and I have sold 94 properties with a total value exceeding $329m including a number of significant sales, where new builds dominated. This commenced at the beginning of the year with 34 Flinders Avenue, St Ives selling for $5.9m which was a record at the time but was recently eclipsed by the sale of 12 Romney Road, St Ives which sold for $6.619m. This continual upward momentum in price has been strengthened by a significant increase in building costs. A highlight of the year was Ray White Upper North Shore’s success in the Ray White Network awards, receiving the title of #1 International Business. This reflects our high achieving and exceptionally hard-working team, our market leading strategies and our clients who trust us to take them through the entire journey. Highlights from this quarter: • 397 Bobbin Head Road was a landmark sale and a pleasure to bring to market. Offering an exceptionally rare 20,000sqm on two titles with a significant period home and potential, it sold for $11.025m – a North Turramurra record. • Despite the media negativity around the market, quality property is always in high demand. 16 Berilda Avenue, Warrawee demonstrated this. Selling through our office for the 2nd time, this resort-inspired property sold on the day of its first open home. • 186 Bannockburn Road, Turramurra set a new record for a luxury Homestead Homes build and for a new build in Turramurra. • With ample buyers still in the market, we are seeing a continuing lack of stock. With the area highly desirable due to its transport, lifestyle and exceptional schools, this demand is sure to remain high WHAT’S HAPPENING IN OUR MARKET?
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