Following a record breaking few years for Sydney real estate, the property market has moved to a more moderate approach. Increasing interest rates and higher inflation has applied downward pressure, however the always in demand and resilient Upper North Shore is still performing well with some standout results. Days on the market are decreasing and there are excellent numbers of buyers at both open houses and auctions. We are now entering the traditional busy Spring season where sellers take advantage of the warmer days, gardens that are blooming in all the glory and the abundance of sunshine. Although interest rates are continuing their upward momentum, there are some signs that the pace of inflation may be declining. Fuel prices have come back, supply chains are being established post lockdowns and slowing growth in the Chinese market are all having impact plus there are signs that interest rates may peak earlier than expected. As the market reaches a more balanced state, it is evident that the auction process is still garnering the best results. On average, properties sold through the Ray White Group via the auction method are selling 11 days quicker than those by private treaty with prices being 11% higher than any offers given prior to auction. Highlights from this quarter: • Ray White Upper North Shore recently won the prestigious Ray White No.1 International Business award which is a testament to the hard work of our team and the commitment of our community. • The success of an auction program is strong with good buyer numbers providing competition at auctions and the auction clearance rate up. • The demand for luxury new build homes is still high, with these properties garnering instant attention and outstanding sales prices. Likewise, there is keen demand for good sites that suit a rebuild, with quality properties selling quickly. • Post lockdowns and with the community returning to a more ‘normal’ way of life, home offices in a property are still a requirement with many workers splitting time in the office with time at home. If you are considering selling in the near future I would love to hear from you. Ray White Upper North Shore and I have the expertise and understanding of the local area and current market fluctuations to provide an outstanding service and result. Please call me today to discuss. Liana Power 0403 691 474 liana.power@raywhite.com WHAT’S HAPPENING IN OUR MARKET?
RkJQdWJsaXNoZXIy MTI3ODI1