Six months into 2025 and the start of a new financial year makes it the perfect time to check in on the property market. We’re halfway through the calendar year, and in most suburbs across the Ku Ring Gai and Hornsby council areas, we’d typically expect to be halfway through the annual sales volume. However, we’re tracking significantly lower. Off the back of a slower sales year in 2024, 2025 is also seeing fewer listings - not just fewer sales. Longer days on market and overpricing continue to be challenges, and there’s been a noticeable lack of fresh stock to rejuvenate the market. March to May listings were down nearly 50% compared to 2023 and 2024 averages, though there was a slight uptick in late May. These low stock levels may be contributing to price stability. Current median house prices: Ku Ring Gai LGA: $3,300,000 (2.8% annual growth) Hornsby LGA: $1,850,000 (4% annual growth) Sydney: $1,639,000 Australia: $932,000 This reinforces the Upper North Shore’s position as one of the most premium and resilient markets in both Sydney and Australia. Median sale values have been lifted by increased interest in premium (new build) stock and development sites. Entry-level prices have also risen, while middle-tier values have softened. This skews the median price data upward. HAPPY NEW FINANCIAL YEAR! *All data sourced from Neoval, Ray White, Domain In Hornsby LGA, top residential sales are around $3 million, with development sites reaching $6–12 million. Around 80% of sales fall between $1.5m and $3m, with only 20 sales above $3m. In Ku Ring Gai LGA, high-end residential sales can reach $14–18 million, with an average top end of $6 million. About 65% of sales exceed $3 million, 34% fall between $1.5m and $3m, and just 1% are below $1.5m. Buyer interest remains strong, driven by schools and infrastructure, despite low stock levels. Multi-generational family demand is also rising across the Upper North Shore. Ray White continues to see strong performance through auction campaigns, achieving shorter days on market and, on average, 12% higher prices than competitors, backed by third- party data. We expect stock levels to rise as sellers aim to get ahead of the Spring market while competition is still low. There’s speculation of another rate cut in August, and potentially more by year-end. If stock levels increase, lower interest rates may help balance supply and demand. If you’d like a property report on any NSW suburb, feel free to reach out to me or my team. Thomas Merriman 0401 840 859 thomas.merriman@raywhite.com
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