Ray White Upper North Shore

The beginning of 2021 saw a sudden boom in property prices across Sydney and, more importantly, our local Upper North Shore. Real estate agents were inundated with buyer enquiry, numbers through open homes hit triple digits, auctions soared through reserves by hundreds of thousands of dollars as buyers scrambled to get into the market before they... could not. We are now through quarter two and prices have held strong. There has certainly been a shift in buyer sentiment. A high number of buyers purchased in the first quarter frenzy. Others who were disillusioned by missing out time and time again made the decision to sit it out and wait, refusing to pay what they believed were over- inflated prices. However, as buyers are also sellers, we are now seeing the knock-on effects of less properties coming onto the market. Couple this with the traditionally quieter winter period and what we have is a massive shortage of property and prices stable at the pre-established higher levels from the first half year. So, what does this mean for you? It means do not wait. If you are a buyer and come across the perfect property, jump on in and don’t be scared to pay a little bit over. When you look back next year, you are likely to feel you bought well. If you are a seller, we have seen an average price increase of 30% across Lindfield, Killara and Gordon from January 2021 - there may not be much more to come in the short term. We cannot predict the future. However, what we do know is that the Upper North Shore is one of the most sought-after locations in Sydney, and expect it will remain so. This year, I was thrilled to be awarded the Rate My Agent Agent of the Year winner for vendors Most Recommended Sales Agent in Killara for the third consecutive year. Thank you to my vendors for your acknowledgement and ongoing support. 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 add value and are happy to have a confidential discussion any time. Scott Phillips 0402 272 575 scott.p@raywhite.com Mid-year report