Ray White Upper North Shore

2021 saw the highest increase in a single year for Pymble house prices in decades. In 2021 the market has increased a little over 23% from 1st January with the average Pymble house price currently sitting at $3.469m.* What makes the growth so extraordinary is it has occurred in the midst of a global pandemic that has seen almost zero net migration, city wide lockdowns, a falling national GDP and a plethora of businesses that have not survived. It has utterly defied what the brains trust of leading economists forecasted would be a 30% drop when the pandemic began. With an abundance of cheap money and a yearning confidence for better times ahead, Pymble and Upper North Shore prices in general have illustrated that even in bleak times, large blocks in leafy areas with direct access to quality schools and transport links are a sure bet when buying and investing locally. There are signs the growth rate has hit its peak and is flattening. Stock levels have risen and auction clearance rates have dropped, particularly in November and December along with the media talking up the prospect of interest rate increases in 2022. Despite this, what the last 18-20 months has taught us is that absolutely no one knows what the property market will do in 2022 and beyond, but we will be sure to watch with interest and keep you updated. Rowan Lazar 0412 329 789 rowan.lazar@raywhite.com *Source: Pricefinder December 2021 WHAT’S HAPPENING IN OUR MARKET?