Discover why Wahroonga and St Ives are some of Sydney’s most valuable suburbs in terms of property sales.
It’s not just the gorgeous properties and sizeable blocks that keep prices primed – the community and local amenities of each make for enviable standards of living.
The 2019 real estate in review
2019 was a hard landscape to navigate at times if you were buying or selling property. On one hand, we saw new advertised stock and housing turnover numbers hit new lows. Interest rates also hit historic lows – but this was better news. And the Sydney property market showed the largest and longest correction of the housing market to date, seeing a fast-paced rebound in property values throughout the last half of the year.
In their Best of the best 2019 report, CoreLogic predicted that after a tumultuous 2019, 2020 would be marked by recovering and increasing house prices.
How Wahroonga and St Ives property performed in 2019
Despite the uncertainty in the market, Wahroonga and St Ives remained steadfast and emerged ranked 6 and 7 respectively in the top 10 highest total value of sales in Sydney for 2019. Wahroonga came in at $378,095,888 in 12-month total value of sales as of September 2019, with the median value of a property at $1,964,616 as of November 2019. St Ives came in just under that at $335,666,250 in 12-month total value of sales as of September 2019, with the median value of a property slightly above at $2,108,591 as of November 2019.
Wahroonga particularly saw great demand, with the average number of visitors to properties on the market coming in at 1075, greatly surpassing the NSW average of 776 online. Both areas celebrated these high results not just thanks to the quality of their properties, but for a few other key reasons too.
The top 5 reasons Wahroonga and St Ives are in demand
1. Location, location. location
Wahroonga and St Ives epitomise the best aspects of the Upper North Shore. Both suburbs hold appeal for professionals and families thanks to their urban proximity and peaceful communities. The streets are wide and dotted with natural beauty, so much so that you would think the leafy suburbs were further from the buzzing CBD. Wahroonga also has the convenience of being in a train line, making the 45-minute trip to the city a breeze.
St Ives may not have a train line, but it is a convenient drivable distance to North Shore stations or to the CBD itself. And what it lacks on rail connections it certainly makes up for in a tight-knit village community and cafe culture atmosphere.
2. Luxury properties with historical character
Wahroonga and St Ives share similarities when it comes to the size of the blocks and palatial estates that sit upon them. Whether you’re looking for cutting edge modern design or classic grandeur, you’ll be spoilt for choice in these Upper North Shore suburbs. And if you’re after a tennis court or swimming pool to add to your outdoor activities, you can be sure to find that too.
2020 is continuing to offer luxury properties with large living spaces and modern designer comforts, such as 50 Ada Avenue, 54 Burns Road, 203a Eastern Road, 6a Water Street, 34 Kitchener Street and 68 Dorset Drive. St Ives also has a burgeoning market for luxury units and villas, making it an accessible market for a range of lifestyles and price points. Units in the area also offer a similar level of luxury, with 3/117 Junction Lane and 49/212-216 Mona Vale Road being great examples that are currently on the market.
3. Close community with village-style amenities
Wahroonga and St Ives offer the kind of community vibe and tranquil space to socialise that is rarely found within commuting distance to the city. The cafes and shopping villages, such as St Ives Shopping Village, The Butcher’s Block and Karoo & Co are the perfect places for locals to meet and relax. There are many great parks and sporting amenities in both areas, and great access to the bush for walking.
4. Excellent educational environments
The popular, high performing schools of the Upper North Shore and their proximity to Wahroonga and St Ives make properties in the area a covetable location for budding families looking for a life-long home. And that is reflected in the population, as over 50% of the population of St Ives have young or high-school aged children.
The schools close by cater for a range of academic needs, including Ravenswood School for Girls, Knox Grammar, Abbotsleigh School for Girls, St Leo’s Catholic College, Wahroonga Adventist School, Wahroonga Public School, Sydney Grammar St Ives Preparatory School, Moriah College, St Lucy’s School (for students with vision impairment and other needs) and St Edmund’s School (for students with disabilities). The public primary schools are also in high demand.
5. Long-term gains hold long-term appeal
The family-friendly streets of each suburb are sweetened by their equally friendly investment and growth potential. Wahroonga and St Ives both have a steady, reliable history of growth and stability when it comes to properties. As of 2019, based on five years of sales, Wahroonga has seen a compound growth rate of 7.0% for houses and 3.5% for units.
St Ives shares this healthy growth history, with the last five years of sales showing a compound growth rate of 6.4% for houses and 4.3% for units. We expect this growth trend to continue based on the historical long-term stability, making a move there a peace of mind investment both financially and familywise.
If you’d like to find out how to get your foot in the door of the Upper North Shore real estate market in 2020, talk to one of our local experts today.