Ray White Upper North Shore

The Pymble housing market in the April to June quarter has remained extraordinarily robust outstripping all growth levels from previous quarters this financial year. At the time of writing, Pymble house prices have increased an astonishing 21.8% this year and 32% since the pandemic began at the beginning of 2020*. We have experienced some unbelievable sales results this quarter, particularly at auction, where in some cases frenzied bidding has delivered outlandishly high prices that simply could not be negotiated privately. We have also seen a number of sellers wanting to capitalise on the market without the exposure of a full marketing campaign by selling off market, meaning agents bring qualified buyers through their homes privately. This process has worked very well for my team with 3 sales conducted this way in June alone, including 7 Merrivale Rd, Pymble which sold after two private inspections for $7million. Whilst the conditions have been incredibly strong, in recent weeks we have seen conditions start to slow slightly with the number of buyers coming through open homes reducing and the sky-high auction clearance rate dropping below 80%. Furthermore, we are yet to knowwhat (if any) implications another lock down has on the market. Despite what appears to be a slowing market, the Pymble property market is still extremely buoyant for those wishing to sell. We will be sure to watch with interest and keep you updated. *Source: Pricefinder June 2021 Rowan Lazar 0412 329 789 rowan.lazar@raywhite.com What’s happening in your market