I watch the Sydney Auction market quite closely, as I believe it acts as a bit of a canary in a coal mine for the overall performance of the Sydney property market.
I try as best I can to apply clearance rates to my day-to-day work as an agent in Sydney’s Upper North Shore – with both Vendors and prospecting buyers. However, it is not a sure-fire solution to the common questions about either, market performance or [future] market potential in the areas I work, so along with the Auction results in this post, I will include some statistics for Sydney’s Upper North Shore Real Estate market – in the suburbs I work in.
Firstly, the weekend provided us with a buoyant continuation from the past few weeks with 829 Auctions listed to go up and 597 taking place. Remembering of course that some of these properties may have sold prior to Auction, however, 20 were withdrawn.
Of the 597 Auctions which did take place, 529 were sold under the hammer giving us a clearance rate of 86%.
The Median sale price in Sydney, at Auction, after last weekend is $1,066,000.
I spend a lot of my time – 7 days a week – in Sydney’s Upper North Shore, at least 6 of them, speaking with locals and more often than not, I am asked a few key – and common – questions about the market, some of which I may have answered, some of which may be answered below;
What is the Average property value in the Upper North Shore compared to my suburb?
The average property value in the Upper North Shore:
$1,316,581
Apartment:
$757,818
House:
$1,534,528
The average property value in Pymble:
$1,534,093
Apartment:
$816,972
House:
$1,690,930
The average property value in Turramurra & Warrawee:
$1,311,285
Apartment:
$755,252
House:
$1,495,226
The average property value in St Ives:
$1,230,696
Apartment:
$743,456
House:
$1,460,057
The average property value in Wahroonga:
$1,307,601
Apartment:
$734,804
House:
$1,503,773
This information reflected the market in December 2014 – and so far this year we have been trading in similar conditions.
Furthermore, we release this information from our Ray White Turramurra and Wahroonga office, in print, to our valued friends and clients each quarter, if you are interested in receiving an up-to-date snap-shot in print to your house, please be in touch.
Thomas Merriman.
Thomas Merriman 