Ray White Upper North Shore

If the last 12months has taught us anything it’s that trying to plan your life around Sydney property market predictions is as useful as trying to find the proverbial pot of gold. In April 2020, there was a great deal of negative sentiment with suggestions that we would see a significant decline in housing prices. So where are we 12months on? It is the opposite. We have historically low interest rates, with the Reserve Bank suggesting that rates will remain low for the foreseeable future. With the cost of money cheap, consumer confidence is high and people are prepared to spend that little bit extra to purchase their forever home. Buyers are paying record breaking prices and are moving quickly and aggressively to secure a purchase in a competitive market. Many are left disappointed, but this does not appear to dampen their enthusiasm as they continue their search with inspection numbers continuing to be extremely high. Empty nesters looking to take advantage of the conditions to downsize are bringing their homes to the market perhaps a little sooner than they had expected. Demand for homes continues to outstrip supply. Auction clearance rates are at historic highs of over 90%. Whether it is returning expats or families looking for a more spacious post-COVID home, there is no doubt that demand for houses on the Upper North Shore of Sydney has never been greater. In short, the first quarter of 2021 has been one of the most active and exciting property markets in recent memory. Furthermore, the predictions are that this is likely to continue, with demand and property prices to remain strong. Conclusion – do not panic! What you do not control is market sentiment. What you do control is the sale of your property. Connect with an agent that has a proven track record and an extensive pool of buyers. Agree on a sales strategy that is right for you and your property. This approach will maximise your property’s value regardless of the market conditions. Anna Cavill 0401 333 981 |  anna.cavill@raywhite.com What’s happening in our market?