Ray White Upper North Shore

It seems that every community is abuzz with stories of incredible local sales results. We’ve certainly seen our share of this during the first part of 2021 on the Upper North Shore. Sales results continue to be underpinned by record levels of buyer interest outpacing new stock coming on the market. So the million-dollar question is “how long can this continue?”. We can’t predict the future but what we do know is that market fundamentals right now are helping our clients who are looking to sell. There’s a deep buyer pool for sellers to take advantage of right now. The heat may have come off slightly as we move into winter, but economists don’t expect the market to decline. The investment market on the Upper North Shore has also seen a significant increase in activity and growth. Investors have been active, with a view that there are strong capital growth and increasing yield opportunities, particularly in the house market. Unit values remain relatively subdued, so there may be an opportunity to take advantage of this and purchase the investment property you’ve been considering. There are, however, definitely two apartment markets; we are seeing an increase in downsizer buyers looking to purchase luxury apartments for owner-occupation, with price growth in these types of properties. The success of off the plan sales in the Ampersand development in Gilroy Road, Turramurra is a testament to this, with 12 already sold and a record price of $2,900,000 achieved for one of the penthouse apartments. Due for completion in mid-2022, construction has commenced, and I’d welcome the opportunity to show you through our Turramurra display suite. Selling, buying or would just like some advice? Please get in touch anytime, I’m here to help. Matt Bolin Partner | 0417 269 023 |  matt.bolin@raywhite.com What’s happening in your market