Ku-ring-gai has an enduring appeal to both residents and potential buyers, and it’s not hard to see why. Sweeping national parks, heritage landmarks, and plenty of leafy green space, there’s so much on offer within this family-friendly community. Whilst property sales elsewhere in Sydney have slowed in the second half of 2017, it’s been another consistently popular year for Ku-ring-gai. So what sets it apart from other North Shore suburbs?
2017 was a fantastic year for Ku-ring-gai and the figures for all suburbs show impressive growth. Chadwick even recorded Ku-ring-gai’s most expensive residential sale in history: $12million.
Throughout Ku-ring-gai, there’s been a sharp rise in property prices, a growth which has hit both houses and units – the average annual growth of a house in Gordon reached an impressive 22.43%, whilst for units, St Ives has experienced the top average growth of 10.25%. Killara’s median unit price has now reached $990,000, fast approaching the $1million mark.
Compared to Sydney’s overall vacancy rate of 3.2%, Ku-ring-gai vacancy rates were extremely low, with Wahroonga and Turramurra sitting at a rate of just 1.09% and 1.22% respectively.
When it comes to clearance rates, Ku-ring-gai’s figures are still robust, with auction clearance rates remaining between 65% and 75% across most suburbs – a confident figure. Upper north shore clearance rates as a whole stood at about 63 per cent towards the end of the year.
It’s hard to think of another North Shore suburb that enjoys such a rich mix of outdoor space. From Garigal National Park, to Ku-ring-gai Chase National Park and Lane Cove National Park, Ku-ring-gai boasts an unusually abundant choice of leafy gardens and green space to hike, run, or just relax with a picnic. It offers a great spread of waterside areas and facilities too, with Lane Cove River, Middle Harbour and Gordon Creek all on the doorstep.
Ku-ring-gai offers an almost unrivalled number of top-performing schools, both primary and secondary, and families face pretty hot competition when it comes to buying in their catchment areas. So once a family secures a property in the area, they tend to stay put long-term. This goes a long way to explaining the loyalty of Ku-ring-gai residents too – if they decide to move, it’s often only within a 10km radius.
Thanks to its strong family and community influences, Ku-ring-gai has taken centre stage for a number of shiny new developments and stylish upgrades. Not only is the Turramurra town centre undergoing a regeneration, but there are some boutique open spaces on the horizon too – locals can look forward to a new Village Green in Lindfield and St Ives, as well as a new Ku-ring-gai Fitness and Aquatic Centre, offering indoor and outdoor pools and a gym.
Along with all the benefits above, Ku-ring-gai enjoys consistent attention from overseas buyers, particularly from the Asia and America market. With the Australian dollar slightly weaker against that of the US, Sydney property has become an attractive prospect, with Ku-ring-gai being a top destination for both first-time buyers as well as existing homeowners, looking to upsize.
If you’re thinking of buying or selling in Ku-ring-gai, talk to our team to see how we can help.