Thursday, 9 February 2012

Real estate trends on the north shore

PROPERTIES selling for between $1.2 million to $3 million are “hot property” on the north shore.

But high-end buyers are being a bit more cautious.

Shead Property principal Hugh O’Neill said top-end buyers were more likely to be impacted by the stock market, and were usually more discerning.

“If the right property comes up, they’ll pay good money for it,” he said.

Mr O’Neill said there was strong buyer interest in Chatswood one- to two-bedroom units and three-bedroom houses.

Matthew Bourn, of Lindfield’s mcconnell bourn, said there had been strong inquiries across all levels.

Sales of properties ranging in the $1.2 million to $3 million price range were most active.

He said buyers looking in the $3 million-plus range were “ticking more boxes than they usually would” before committing.

Chadwick Real Estate principal Scott Chadwick said on the east side of Warrawee properties valued at $1.5 million to $2.5 million were “hot property”, with higher-end buyers “being much more careful” in their decision-making.

Mr Chadwick said he expected the top-end market to improve this year, as long as buyer credit was not greatly impacted by the European financial situation.

Century 21 Cordeau Marshall principal Craig Marshall said the strength of the Ku-ring-gai market was the $800,000 to $1.2 million range, with $3 million-plus properties not selling as quickly.

“The Ku-ring-gai market was strong at the end of November and December. In November we sold more than ever before,” Mr Marshall said.

Mr Marshall said he expected another rush this month and next.


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