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September Market Update

By Laura Essert

As we move into the spring market we are seeing a noticeable increase in both sales and property management listings. Whilst there is still an air of caution around interest rates and the likely impact on property prices, buyers are still active in most price ranges and hence Upper North Shore auction clearance rates are sitting above the Sydney average.

For the month of September across our 5 offices we sold 42 properties with a combined market value just shy of $103m.

Notable sales included:
Highest house sale – 22 Alice St, Turramurra – $5,950,000
Most affordable house sale – 30 Health St, Asquith – $1,380,000
Highest unit sale – 402/23-29 Gilroy Road, Turramurra – $1,750,000
Most affordable unit sale – Wahroonga, $630,000

Now more than ever, it is important to reinforce that a targeted marketing campaign and a strategic agency with broad reach across all price ranges is the difference between an average result, and a premium result, regardless of market conditions.

In property management news, demand for rental properties in the area, both houses and apartments are exceptionally high and in the short term shows no signs of easing. For the month of September our property management team leased 38 properties and are maintaining a vacancy rate at 1.32%, down from 2.6% in August 2021, a number which sits at an historically all-time low.

This month we were incredibly proud to be awarded the No:1 sales business for settled sales in the Ray White Group internationally. This is testament to the hard work, commitment, and culture of collaboration from our Sales, Property Management and Administration teams. Thank you to everyone who has made this result possible.

So if you’re thinking of selling or leasing your home between now and the end of 2022, now is the time to reach out to our team.

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