Century 21 Cordeau Marshall Group, based in Ku-ring-gai have agreed to supply the local property market with a regular property report which we will publish. Here is their first report.
After peak price increases in late 2013, Sydney’s property market has continually moderated throughout 2014, with home prices continuing to rise, but at a more stable level.
Strong home loan activity and auction clearance rates point to continued solid buyer activity throughout 2014, all of which has been fuelled by consistent low interest rates, restored and rising confidence and record levels of investor activity.
The Upper North Shore has been the leading performer in property growth over the last 12 months, also joining the million-dollar club, with median prices above $1 million.
During late 2013 and early 2014 buyers were paying over and above owners expectations, however buyers are beginning to resist
Since July 2013 we’ve experienced major increases – with prices upwards of 20-30% higher in all price ranges.
More properties sold for over 3 million dollars on the North Shore than ever before.
The new unit market this year has also been the strongest in the last 12 months after a few years of struggling. Due to this increase in new development the second-hand unit market prices have increased.
Century 21 Cordeau Marshall Group Principal, Craig Marshall, revealed that “During late 2013 and early 2014 buyers were paying over and above owners expectations, however buyers are beginning to resist, causing us to move into a more balanced market”.