A MESSAGE FROM STEPHEN LORD
Throughout 2022 there was a lot of disruption in the market caused by the Federal Election as well as a series of continual increases to the cash rate by the Reserve Bank. It became very clear that after a couple of buoyant years of double-digit growth the property market had reached the peak of this current cycle.
How does this affect North Kellyville real estate market?
Local shops are expanding, new ovals and parks
are completed, and the local schools are back full of kids laughing, playing and of course learning. Over the last 3 years North Kellyville has still had 21% growth including the 10% - 15% fall in the last 6 months. The frustrating roads being upgraded is coming to an end. Dual lanes and traffic lights at the corner of Samantha Riley Drive and Hazlett Road are now complete, which stops buyers saying it’s too far out.
I monitor the weekly sales in the area through my video market wrap each week released on facebook Stephen Lord – McGrath or Instagram stephenlord_mcgrath
How is the property market in North Kellyville?
Knowing the North Kellyville property statistics on a weekly basis lets me have a great insight on the North Kellyville market.
In 2019, North Kellyville had each Saturday 65 to 70 open homes through all the agents and 6 - 7 sales each week. This slowed down during the COVID restrictions in 2020 and 2021 and the stopping of open homes. Sales dropped to about 3 – 4 each week. By the 2nd quarter of 2022, open homes increased to 45 - 50 properties opened each Saturday and now we are 36 - 42 opens with still 6 - 7 sales each week.
Why is this interesting?
We have seen increased interest rates which has pushed sale prices down by around 10 - 15%. Another factor is that there are less homes for sale, causing a supply and demand issue.
Over the last 12 months, North Kellyville property sales on realestate.com.au were $1m - $1.5m = 150 sales, $1.5m - $1.7m = 80 sales, $1.7m - $1.9m = 54 sales, $1.9m - $2.1m = 31 sales $2.3m - $2.5m+ = 24 sales, $2.5m- 5m = 12 sales.
What will 2023 hold?
We will see increased rate rises which will put pressure on prices, but each suburb will be different. This could contribute to why agents are saying the market is ‘patchy’. The media reports over exaggerate the true impact this has on the North Kellyville property market.
McGrath Northwest is dedicated to upholding its reputation as a market leader with integrity, superior marketing, six star customer service and
outstanding results. With it’s new partnership bringing the West, Northwest & Hawkesbury offices under one umbrella it is introducing your home to over 30 agents and 25 associates which will market your property to 2,400 new buyers each month.
This means that when you’re considering selling your North Kellyville property, your agent must have a proven marketing strategy designed to showcase your home to the widest possible audience of Out of Area Buyers to ensure that you maximise the sale price of your property. In fact, not having a proven marketing strategy could cost you 10’s if not 100’s of thousands of dollars in lost sale value when selling your home.
North Kellyville needs to marketed as an attractive alternative to the outer Hills areas and I sincerely believe that some of the properties within our district should be able to command a lot more money if they’re promoted the right way.
McGrath Northwest have developed a tailor-made, strategic approach to the marketing of your home which ensures that you maximise the sale price of your property.
Your Home Is Worth More With McGrath
Yours Sincerely, STEPHEN LORD 0412 260 022 stephenlord@mcgrath.com.au
