WELCOME TO MY MARKET UPDATE 2022 represented a year of change for property markets across Australia. With some normality returning to day to day life post lockdowns, to consistent interest rate rises throughout the year, there are many and varied views on how the next 12 months will play out in the property space. Reflecting on 2022, we observed a couple of key trends: • In comparison to the broader NSW market, the Upper North Shore weathered the changing market well, with significantly less of a price adjustment than many other regions throughout the state. • Buyers still want to buy! Appetite for property in our area remains strong. Yes, buyers’ borrowing capacity has reduced to a certain degree, however there is still a solid number of qualified, serious buyers active in the marketplace. As we move into 2023, we anticipate a more transactional market. As we saw more consistency in sales and a higher volume of transactions over the last quarter of 2022, more sellers have found confidence to sell and we expect this will result in an increased number of listings as we move through the year. There is immense opportunity in the marketplace, and being armed with the right advice will put you in the best position to push forward with your property goals. If there is any aspect of the market we can assist with throughout 2023, please feel welcome to reach out at any time. My team and I look forward to being of service. Domenic Maxwell 0434 537 577 domenic.maxwell@raywhite.com Ray White Upper North Shore & Dom Maxwell sell more strata properties than any other agency in our market Here’s the proof. raywhiteuppernorthshore.com.au Source: Pricefinder Data 1 January - 31 December 2022 31 4 4 3 6 7 9 16 5 78 Competitors Ray White
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