“Despite the high entry point, North Shore properties in Sydney continue to be popular …”
North Shore properties in Sydney have long been considered the ‘Mayfair’ of the Sydney property market by astute property economists. Despite the high entry price, the blue chip region of North Sydney remains an important part of any investor’s portfolio with its choice of waterfront properties and exclusive properties.
According to RP Data’s National Research Director Tim Lawless, a number of positive market indicators during January suggest that the residential market has started the year with some confidence.
“Week-on-week, we are seeing an increase in the number of new property advertisements coming to the market. Whilst new stock has been increasing rapidly, the total number of properties available for sale has been falling which is an indicator that buyers are for the time being outweighing sellers and new supply is being quickly consumed.”
Auction continues to be the preferred popular method for selling North Shore properties in Sydney and auctions across Sydney have kicked off with an impressive 78 per cent success rate during early February listings.
The lower north shore, one of last year’s weakest auction precincts, has sprung back to life with agents scoring a 100 per cent clean sweep of its initial 13 property sales in mid February.
Strong auction results for prestige properties were achieved in February in the North Shore with a five-bedroom Riverview home and four-bedroom St Ives home selling for well above reserve.
The exclusive properties auctioned through McGrath Estate Agents, were 7 Pengilly St, Riverview, and 22 Hunters Ave, St Ives, two North Shore properties in Sydney. 7 Pengilly St located on an 1170sq m level block, sold for $2.49 million – $190,000 above the reserve – and 22 Hunters Ave sold for $1.115 million, $135,000 above reserve.
The North Shore property market has a high entry point but remains attractive to property investors because of its rising prices and strong potential for capital growth. The equivalent of North Shore properties in Sydney is usually cheaper than its Eastern Sydney counterpart and considered better value for money.
The North Shore stretching from Sydney Harbour from Chinamans Beach to Lavender Bay is a well sought after area by retirees and business executives because of its harbour views and close proximity to the North Sydney CBD.
If you would like help buying a North Shore property or require a detailed property profile for the North Shore, Northern Beaches, East or Inner West region, contact Amanda who is a buyer’s agent in Sydney. Amanda can help you find a prestige property, negotiate a sale price ideally pre auction or act on your behalf at auctions.
Amanda On My Side offers exceptional buyers agent services throughout Sydney and across Australia. Engage a professional real estate buyers agent to help you find the best property at the right price. Buyers agents, also known as property finders or a buyers advocate, can help find, research and bid on your next home or investment property. Need a buyers Agent Sydney – then you need Amanda on your Side.
Tags: buyers advocate, buyers agent, luxury properties, north shore properties, North Shore Sydney, waterfront properties
