we are here we will see things fluctuate dramatically before we start to increase again at some point in the next 12 months. Remember however, you may need to buy as well so don’t just wait for the increase. Examples of a cross-section of our market are in this report, I can provide more stats for all suburbs including ‘north’ and ‘south’ suburbs. I recently sold 9 properties in Mount Pleasant Avenue, Wahroonga at a SUPER Auction Thursday event which was covered by Channel 9, Domain, REA, news.com and Telegraph. If you have any questions about these sales, please let me know - everything sold under the hammer and above reserve. The wider market We are still seeing retirees moving out of the Upper North Shore and younger families moving in. As a by-product of this we are hearing about regional and seaside areas performing quite well. Domain data suggests that at present 60% of our incoming enquiry is from out of area buyers and 40% from locals. This is a bit different to 2021 and the ‘COVID market’ where out of area enquiry was 65%. It may also be fair to say that the drop (albeit 5%) in prices, to some extent, may also be attributed to this slight fall. When we talk about 10-15% drop, we are referring more to the suburbs with the most amount of growth. However, the Sydney market median fall was 8.3% from the peak in March but we are still tracking 28.6% higher than June 2020. Interest rates (RBA) Increased another .25% to 3.10%. Let’s keep an eye on this as I get the feeling we are near the end, and I am surprised that we got hit with a December rise. Thomas Merriman | 0401 840 859 | thomas.merriman@raywhite.com
RkJQdWJsaXNoZXIy MTI3ODI1