Property Market Update and TOD Update
As we step into April, the property market has started strong, with a notable uptick in properties going to auction and positive Home Value Index figures. This edition of Market Warp will cover the latest developments regarding the Ku-ring-gai Transport-Oriented Development (TOD) Plan, along with key insights about the Australian housing market.
The Marshall Group Specific Insights
At The Marshall Group, we’ve seen great attendance at open homes through March and the start of April. Currently, we have 41 listings on our website, and we’ve successfully sold 53 properties this year.
If you’re considering leasing or renting your property, our experienced property management team is here to assist you. Currently, we manage over 594 properties in the Sydney area. Additionally, our sales agents are available to provide detailed appraisals of your property and insights into current market trends.
Updates for Ku-ring-gai Council Area Residents
Transport Orientated Development(TOD) Plan Preferred Scenario
Following an Extraordinary Council Meeting on the 31 March 2025, the Ku-ring-gai Council made the decision to pursue a modified version of TOD scenario 3b, which was proposed by the council last year. The council is now seeking community feedback on the proposed development plan between Roseville and Gordon, which will be on public exhibition until April 22, 2025.
The full exhibition document on the preferred scenario is available on the Ku-ring-gai Council website tod_sepp_exhibition_document_web_v2-4-april.pdf .
Intentions of the Modified TOD Scenario 3b
The TOD Scenario 3b aims to minimise the impact of the development plan on heritage properties and the area’s iconic tree canopy. The proposed development will protect 80% of Heritage Conservation Areas (HCAs), limit building heights to between 3 and 28 storeys, and expand the boundary area to 800 meters from stations in the Roseville to Gordon corridor.
Additionally, the TOD proposal aims to increase the percentage of affordable housing properties available in the area through the Affordable Housing Contribution Scheme (AHCS). Affordable housing refers to rental properties that are subsidised and offered at below-market rents. The development plan aims to deliver an estimated 24,562 homes to the area over the course of 20 years – Gordon 9,012; Killara 2,778; Lindfield 9,419; Roseville 3,353.
To support this development, the council has proposed significant upgrades to infrastructure, including traffic and active transport improvements, green grid and canopy cover enhancements, and the addition of community facilities, open spaces, and streetscapes.
Sydney Property Market Insights
For the week ending March 30, 2025, the number of properties going to auction across Sydney increased. CoreLogic reported that 1,110 properties were auctioned, with the clearance rate standing at 59.2%. This represents a slight dip from the previous fortnight’s results. The North Sydney to Hornsby sub-region also saw an increase in the number of properties going to auction (182), but the auction clearance rate fell slightly to 57.7%.
Looking ahead, the week ending April 6, 2025, will see 996 auctions scheduled—an increase from the 849 auctions scheduled in the same week last year.
March marked a period of revitalisation in the national Home Value Index, bringing hope to homeowners. From a national perspective, the home value index rose by 0.4% over the month of March. The Daily Home Value index is designed to track daily changes in the value of housing markets across Australia. The Daily Home Value Index percentage change year-on-year for all dwellings in Sydney has increased by 0.9% and has increased to 0.4% quarter on quarter change.
The Reserve Bank of Australia’s decision to reduce the cash rate to 4.1% in February has had a positive effect on the housing market, contributing to the rise in home values in February and March. The cash rate reduction has also alleviated some pressure on mortgage holders, as repayments on variable-rate loans have decreased. CoreLogic also reported that consumer sentiment has improved, with households feeling more confident in making high-commitment decisions like buying or selling a home.
Economists predict that the cash rate will gradually reduce further in 2025, which will likely lead to a positive outlook for interest rates.
Get in Touch with The Marshall Group
If you’re considering buying, selling, leasing, renting, or investing in 2025, please contact The Marshall Group at our offices in Lindfield, Gordon, St Ives or Wahroonga.