The Marshall Group: Monthly Property Market Update – April 2024

Local Property Market

April has shown a notable decrease in total stock levels across the Upper North Shore, yet an increase in overall market share for The Marshall Group. According to SQM Research, total listings across Upper North Shore suburbs dropped by around 11% compared to March, primarily due to fewer new listings. This reduction likely reflects the impact of public and school holidays disrupting campaign timelines. Despite this quieter period, The Marshall Group’s total available listings have increased by more than 20% month-on-month, with steady buyer demand and activity at our open homes indicating a consistently performing market. The increase in available properties does not equate to diminished quality of service. On the contrary, our team of over 50 professionals ensures the highest level of care, attention, and exceptional results for every client.

Sydney Property Market

Despite fluctuations in volume during school and public holiday periods, the Sydney property market has demonstrated resilience. The average preliminary clearance rate for April maintained a strong performance at around 77%. According to CoreLogic, the Home Value Index for Sydney showed a 0.4% increase through April, which is slightly higher than the 0.3% rise observed in March. This consistent growth, marking the 15th consecutive month of increases, indicates that despite low stock levels, property prices continue to be pushed upwards, reinforcing the robust nature of the market.

Australian Property Market

Nationally, property values increased by 0.6% through April, mirroring the resilience seen in Sydney’s market, according to data from CoreLogic. Year on year, values are 8.7% higher, reflecting a sustained upward trend across the country. Despite challenges such as high interest rates and cost of living pressures, the demand for housing remains strong, supported by a relatively healthy employment landscape and ongoing government incentives for first-time home buyers. This consistent increase in property values indicates a market that, while facing headwinds, continues to attract substantial interest from both domestic and international investors.

Economy Update

The Australian Bureau of Statistics (ABS) Quarterly CPI figures showed a 1.0% increase, with the annual change dropping from 4.1% in the December quarter to 3.6% in the March quarter. This remains above the target inflation band of 2-3%, prompting economists to delay their forecasts for rate cuts, with some even speculating that interest rates could rise again. The upcoming RBA announcement is highly anticipated, particularly given the backdrop of 13 recent rate hikes that have significantly impacted borrowing capacity and affordability. Families, especially those facing increased childcare and school fees, have seen their borrowing capacity decrease by up to 40%.

The Marshall Group Achievements and Announcements

This April, we proudly sold 20 properties, achieving a combined total of over $50,000,000. With a dedicated team of 50 professionals operating from four offices across Ku-ring-gai, including our dynamic new hub at 29-31 Redleaf Avenue, Wahroonga, The Marshall Group is exceptionally well-equipped to guide you through your property journey. Our collaborative approach, encompassing sales, property management, and operations, ensures the highest level of service and exceptional results for every client, continuing to set the standard for excellence in the local real estate market.

Community Involvement

Our commitment to the community remains strong with our support for the Ravenswood Australian Women’s Art Prize and the Lindfield Rotary Fun Run. The Art Prize winners will be announced on 10 May 2024, with the exhibition running from 11 to 26 May 2024. The Fun Run, set for 19 May 2024, will offer 2km, 5km, and 10km run or walk options, fostering community spirit and health. We look forward to engaging with our community at these and other future events.

In Conclusion

As we navigate through a vibrant property market and a complex economic landscape, The Marshall Group continues to be your beacon of expertise, care, and innovation. We are committed to enhancing community engagement and delivering exceptional service to our clients. Stay connected with us for the latest property insights, market trends, and community initiatives. Together, we will continue to thrive and positively impact both the property sector and our community.


Disclaimer: Whilst every effort is made to ensure The Marshall Group communications are accurate and complete, this content is for informational purposes only. For tailored property advice, speak with a member of The Marshall Group directly. For financial or legal advice, seek guidance from a qualified professional.

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