While most people assume that the Christmas season is the time when everything slows down, it’s definitely not true for the real estate market on Sydney’s Northern Beaches.
In fact, only last year, the Northern Beaches region saw exponential growth late 2021 and well into 2022.
Why?
Unlike other regions, the Northern Beaches offers a lot of ongoing and desirable value through its exceptional lifestyle and steady growth rate. Consequently, a lot of out-of-area buyers are now drawn to this idyllic lifestyle change. But beyond that, our 2022 property market report shows how promising the local real estate market is, especially at this time of the year.
The holiday period is an ideal time to get into the market – and we’re not just saying this! We have all the data to back this up, too.
Read on to learn more.
Northern Beaches property market trends
If you’re looking for a sign to sell your Sydney Northern Beaches property, this is it.
Because from what we’ve observed this year, the local market is looking particularly strong for residential sales. Although the market softened during the last few months of 2022 due to interest rate hikes and inflation, our data and first-hand experience shows that this year saw nearly the same trend in enquiries during the same months last year.
As you can see in this graph, the property enquiry level is following the same trend as last year. The only difference is that because there are fewer properties online, the number of enquiries seems less – but the enquiries per property have remained strong.
Buyers are still as active during the holidays, hunting for properties
This just shows that even though the interest rates have increased, the demand for Northern Beaches homes has remained constant.
Furthermore, the latest SQM research showed that the RBA may slow or even pause interest rate rises – keeping cash rates below 4 per cent and dropping inflation to 5 per cent – which should lead to a growth in property prices for 2023.
So, if you’re holding back because of all the news about interest rates, the market still looks healthy, despite all the media hype – and it’s shaping up to look even better in the following coming months.
The Upstate property market report
We are now seeing that our property sales enquiry levels this year far exceed our competitors across the Northern Beaches market, as evidenced by this data from realestate.com.au:
But beyond the number of enquiries, Upstate also closed some phenomenal deals this year, including our highest sale ever for an apartment in the historic block of Dungowan in Manly at around $7 million.
If this trend continues – and based on last year’s data, we expect it should – listing over this period is an opportune time. The holiday spirit and the warmer weather encourages buyers to look for more properties and the more buyers there are, the more competitive the offers will be for your home.
What do these real estate numbers mean for you?
At Upstate, we take the time to analyse the market and see how our clients can best take advantage of the trends we’re seeing. This year proved to be a promising one for our clients right across Sydney’s Northern Beaches and, as we’ve seen many times before, the excitement of the holiday period factors into the decision-making process of buyers.
This means now is a great time for listing a property for sale.
How to attract more buyers
We’ve also noticed a rising trend in property preparation and styling. This has a considerable impact on aesthetic appeal for buyers, helping to achieve the best results for a property. So, we’re also encouraging property vendors to collaborate with our Property Concierge team, as a complimentary service to set you up for success – even during the holidays.
Upstate is open in December and January
We are open and working over the Christmas period and you can trust us to take care of your property during this time, even if you’re away.
In fact, we had an average of 93 listings per week during the holiday season in the past year – and we’re set to surpass this number this year!
Find yourself in a better place with Upstate – even over the holiday break!
At Upstate, our real estate specialists can make your property goals come true. That’s because we’re a big agency, with the heart and determination of a boutique one.
If you are thinking of selling or want an updated appraisal on your property, speak to your local Upstate team today. We’ll show you the possibilities that earn excellent results. We look forward to chatting with you soon.
The Upstate team
