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Home , A38 (Sydney), Killara, North Shore (Sydney), Turramurra

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Buyer's Guide Upper

L O V E L I V E S Y D N E Y

BUYER'S AGENTS Contents

3 's Upper North Shore

4 Highlights of the Upper North Shore

5 Restaurants and Shops

6 Education

7 Transport

8 Upper North Shore - Property Pricing and Performance 9 Buying Property on the Upper North Shore SYDNEY'S UPPER NORTH SHORE

The Upper North Shore is home to some of Sydney's most sought-after suburbs. With its spacious homes, abundant parks, notable schools and convenient City access, it’s a popular place to call home. Statistically it’s also one of the safest areas in Sydney, making it a popular choice for families.

The region is located to the North West of Sydney’s CBD and is perfect for growing families or those that love the outdoors and want to get away from the hustle and bustle of Sydney’s CBD.

The Upper North Shore is generally referred to as the area that encompasses the suburbs along the North Shore train line between Roseville (just north of Chatswood) and Wahroonga (just south of Hornsby).

To locate the Upper North Shore on a map, simply draw a box with the M1 Motorway or NorthConnex Motorway to the North; Roseville or the A38 Arterial Road to the South; National Park to the West and Ku-ring-gai Chase National Park to the East.

The suburbs of the Upper North Shore include Roseville 2069, Lindfield 2070, 2071, Gordon 2072, Pymble 2073, 2074, Warrawee 2074, St Ives 2075, Wahroonga 2076. The area comprises the Local Government Areas of Ku-ring-gai Council and Council.

The Upper North Shore is very popular with families due to the availability of some of the best private and public schools in NSW, a wide selection of amazing national parks, playgrounds and sporting fields, great transport and larger flat blocks of land in quite leafy streets. The region is also surrounded by National Parks and Reserves which provides a great retreat.

SYDNEY'S UPPER NORTH SHORE | 3 Highlights of the Upper North Shore

Recreation

The outdoors is what makes the Upper North Shore so popular and such a great location to live and pursue a healthy lifestyle.

There is literally something for everyone – with abundant national parks, bushwalking trails, cycling paths, playgrounds, sporting fields, golf courses and waterways.

If you enjoy nature and getting outdoors, then the Upper North Shore has plenty to offer. The area has access to some of the best National Parks and Waterways in the State – including:

Ku-ring-gai Chase National Park Bobbin Head Apple Tree Bay St Ives Showground

There is also an extraordinary selection of great parks and playgrounds for families – including:

Wahroonga Park Wahroonga Gordon Recreation Ground Bicentennial Park West Pymble Boyds Orchard Park Turramurra Queen Elizabeth Reserve Lindfield Bancroft Park Roseville Turramurra Memorial Park Turramurra Golden Jubilee Field Wahroonga Bannockburn Oval Pymble

HIGHLIGHTS OF THE UPPER NORTH SHORE | 04 The Upper North Shore is also home to a number of very popular high quality golf courses including:

Avondale Golf Club Pymble Pymble Golf Club St Ives Killara Golf Club Roseville Golf Club Terry Hills Golf and Country Club Gordon Golf Club

Restaurants and Shops

Significant commercial and retail centres include Chatswood Shopping Centres, Macquarie Park and Hornsby. These shopping centres are major drawcards and feature a wide range of amenities including restaurants, cinemas, gyms and hundreds of great stores.

In addition, each of the suburbs along the Upper North Shore also have a great leafy, ‘village’ feel with a wide selection of amazing restaurants, cafes and boutique shops. Of course, Sydney CBD is also only about 30 mins away with all that it also brings.

RESTAURANTS AND SHOPS | 05 Education

The Upper North Shore is home to many of the most sought-after schools in the State. Most suburbs in the Upper North Shore have excellent Public Preparatory and Senior Schools. for example, is regarded as the best performing non-selective government secondary school in NSW for final year (HSC) exams.

In addition, the Upper North Shore is an effectively a ‘Centre of Excellence’ for world-class Private School education, with a large number of sought-after independent schools located in the area:

Pymble Ladies' College (Girls) - Pymble Abbotsleigh (Girls) - Wahroonga Ravenswood (Girls) - Wahroonga Brigidine College (Girls) – St Ives (Boys) - Wahroonga Barker College (Boys/ Girls) – Hornsby Roseville College (Girls) – Roseville Prep (Boys) - St Ives St Leo's Catholic College (Girls/ Boys) – Wahroonga German International School (Girls/ Boys) – Terry Hills Wahroonga Adventist School (Girls/ Boys) – Wahroonga Lorento Normanhurst (Girls/ Boys) – Normanhurst Masada College (Girls/ Boys) – St Ives

Additional Public school information can be found at schoolfinder.education.nsw.gov.au, with additional information on Private schools available at bettereducation.com.au or privateschoolsguide.com.

In addition, Macquarie University, a world-class University in its own right, is only about 15 minutes away. Also, both Sydney University and the University of NSW are easily accessible by public transport.

EDUCATION | 06 Transportation

General One of the best features about owning a home on the Upper North Shore is the ease of commuting to most key locations – in particular Sydney CBD, Chatswood, North Sydney, Macquarie Park, Newcastle, Frenchs Forest, , Central Coast and Sydney's .

Trains The upper north shore is serviced by T1 North Shore line services. Heading to the City is very easy using the North Shore rail line. Commute time typically ranges between 25 and 35 mins – just long enough to read a few pages of your favourite book or unwind after work. Here is the Train Timetable.

Buses The Upper North Shore also has an extensive bus network just in case you are not as close to the train line as you would like. Its services multiples routes with regular running times and its ideal for those who work in the City or surrounding areas. Here is the Bus Timetable.

Driving The Upper North Shore is particularly well serviced by an impressive road network that includes easy access to the M1 Pacific Motorway (to Newcastle, Brisbane), NorthConnex (linking the M1 and Motorways), M2/ M7 Motorways (to Western Suburbs, South Coast, Canberra), Mona Vale Rd (to Northern Beaches) and the Pacific Highway which runs right through the middle of the Upper North Shore and provides direct access to Sydney’s CBD.

TRANSPORTATION | 07 Upper North Shore Property Pricing and Performance

Over the last twelve months property prices on the Upper North Shore have been quite resilient and the region has done better than many parts of Sydney.

In fact, despite 2020 seeing many commentators predicting ‘doom and gloom’ for property prices, the year saw several suburb sales records tumble on the Upper North Shore, largely driven by intense demand and a shortage of options for buyers.

The emergence of COVID and recent changes to the way we work and live, has resulted in more people broadening their search for homes and prioritising more space for the family as working from home becomes the new normal.

This has resulted in strong competition for properties listed for sale on the Upper North Shore.

During the 6 months to August last year, median house prices across the Upper North shore increased by about 6%. Auction clearance rates have also been above 80% for much of this period (Source: Realestate.com.au).

The median house price across the Upper North Shore is now $2,588,444, with units coming in at $912,111 (refer table below).

Despite COVID, over the last five years, house prices across the Upper North Shore have increased by a compound annual growth rate of 4.5%. Some suburbs have done much better than this, with Killara at 7.7% and Wahroonga at 5.6% over this five-year period.

It has been a different story for units, although prices have still increased moderately over this five-year period. St Ives has been the standout for Units over this period with compound growth of 6.7% (refer table below).

UPPER NORTH SHORE - | 08 PROPERTY PRICING AND PERFORMANCE Upper North Shore – Property Prices by Suburb

Source: realestate.com.au/ Love Live Sydney analysis (Jan 2021) Buying Property on the Upper North Shore

Finding an Upper North Shore Property You Love

The clean and leafy streets, stately homes, national parks, unparalleled quality of schools and easy access to the CBD all contribute to the region providing one of the best qualities of life in . It’s therefore no surprise – particularly in these challenging times - that property on Sydney’s Upper North Shore is in very high demand.

As specialist Buyer’s Agents on the Upper North Shore, we help buyers find their perfect home and guide them through the entire buying process – which we have outlined below.

Engaging with Real Estate Agents

There are currently over 200 Real Estate agents on the Upper North shore and all of them will be very happy to show you the property listings they have, hoping they are a good match what you are looking for.

There is also an increasing trend on the Upper North Shore, for Real Estate Agents to sell properties ‘off-market’. This means the Seller and the Agent have agreed to sell the property without any public advertising. In practical terms, this may reduce the advertising costs for Seller, but it means the Buyer needs to work much harder to maintain ongoing contact with every Real Estate Agent in the region - else they run the risk of not even knowing their ideal home may already be on the market for sale.

BUYING PROPERTY ON THE | 09 UPPER NORTH SHORE You also need to remember that Real Estate agents are required by law to act in the best interests of the vendor (the person selling the property) – not in your best interests – so it is important for you to be very diligent in your approach, ensure all necessary property inspections and reports have been completed, study the local area very carefully, look for comparable sales and, of course, ensure you are not overpaying.

Importantly, you also need to develop a clear negotiation strategy, remembering the Real Estate Agent is working for the Seller – not for you.

Some astute buyers will decide to engage a Buyer’s Agent to represent the buyers interests and use their expertise, skill and local market knowledge to ensure the best possible outcome for the buyer is achieved. Here is an overview of how Buyer’s Agents may be able to help you.

Getting Your Finances In Order Up-Front

At present, it is often taking up to six weeks for buyers to get finance approved by the banks. It’s therefore important to have finance pre-approval in writing from your home loan provider before you make any form of ‘offer’ for a property.

If finance is not in place, agents and vendors will recognise you may not be able to exchange contracts for at least six weeks. So, even if any offer you were to make was ‘acceptable’, your chances of securing the property will be very low - especially in the current tight market with limited numbers of properties available.

Engaging a Conveyancer/ Solicitor

While you can do your own conveyancing, we recommend buyers engage a licensed conveyancer or solicitor to help arrange finance if necessary, review appropriate property reports, review and exchange contracts and attend settlement.

The fees will vary between solicitors and conveyancers and you will also be charged for disbursements (costs) which will generally include title search, certificate fees from local authorities and any other inspections/ reports that are necessary.

Conveyancers must disclose their costs to you and it is your right to negotiate a costs agreement. We recommend you ask for an itemised statement of the likely costs before they start the work – to ensure you have no surprises later on!

Reviewing the Contract for the Sale and Purchase of Land

Once you have found a property you love, you should request a copy of the contract as soon as you can and have it reviewed by your solicitor or conveyancer. Remember, a property can’t be put on the market until a contract of sale has been prepared – which will include the terms and conditions of the sale and valuable information about the property itself.

BUYING PROPERTY ON THE | 10 UPPER NORTH SHORE Making an Offer

If you make an offer to a Real Estate Agent and it is accepted by the Seller, you will generally be asked to pay a deposit (‘expression of interest’ deposit) often 0.25% of the Purchase Price.

However, this does NOT mean the property is yours, or that it will be taken off the market - the Agent can take as many deposits as they like for the property. In fact, Legislation demands that Real Estate Agents present to the Seller, in writing, any subsequent offers they receive for the property.

Up until the point you legally exchange contracts for the property, the Real Estate Agent (remember - legally representing the best interests of the Seller) may negotiate with other buyers for a higher offer – even if you have paid a deposit.

Specifically, the Agent or the Seller have no obligation to sell the property to you. However, if you have paid a deposit, the Agent must tell you if someone makes a later offer on the property as soon as they become aware of it.

If the Seller accepts a later offer and exchanges contracts with that party, you have been ‘gazumped’. In this case, you have no recourse, but you will have your full deposit refunded. Unfortunately, you will have missed out on the property.

Furthermore, neither the Agent nor the Seller are obliged to compensate you for any costs you may have incurred – including any legal costs, inspection reports or finance application costs.

Exchanging Contracts and Paying a Deposit

Once you have had the contract reviewed (and agreed any changes necessary), made the necessary property enquiries and have your financial arrangements in order, you will be ready to exchange contracts.

Exchanging contracts legally completes the process of buying a home. Up until this point, the agreement is generally not binding and both you or the vendor can change your minds.

There will be two copies of the sale contract. Once you sign one and the vendor signs the other, they are ‘exchanged’ (by hand or by post – and usually arranged by either your solicitor, conveyancer or agent). At the time of exchange you will also be required to pay a deposit – which is generally 10% of the purchase price.

Cooling-off Period

In NSW you have a five business day cooling off period after you exchange contracts – just in case you change your mind.

BUYING PROPERTY ON THE | 11 UPPER NORTH SHORE The only exceptions to this are if you are buying ‘off the plan’ (where it is 10 days), buying at an auction, or if the selling agent asks you to sign a ‘66W Certificate’, which waives your cooling off period all together. You can also extend or reduce the cooling off period with the written agreement of the vendor.

If you do use your cooling off rights and withdraw from the contract you will still be required to pay the vendor 0.25 percent (which is effectively $250 for every $100,000 of the purchase price).

Settlement

Settlement normally occurs six weeks after contracts are exchanged. At this point you pay the remainder of the sale price and become the legal owner of the property.

It’s a good idea on the morning of Settlement day to conduct a final inspection of the property to ensure there have been no changes since the contracts were exchanged.

If you are interested, here is a link to the NSW Government Office of Fair Trading which safeguards the rights of all property Buyers and Sellers and advises on fair and ethical Real Estate practices. The site contains a lot of really useful information for property buyers.

Lastly, if you are unsure of what you need to do, or if you have a specific question about buying property on the Upper North Shore and need some honest, independent advice please drop us a quick note at [email protected]. You don’t even need to be an existing client – we love the Upper North Shore and we love Real Estate - and we are just very happy to help.

Good luck with your Upper North Shore Buying…!

Warm Regards,

The Entire Love Live Sydney team…!

Love Live Sydney A: Level 2, 802 Pacific Highway Gordon NSW 2072 W: lovelivesydney.com E: [email protected] T: 0405 500 053

BUYING PROPERTY ON THE | 12 UPPER NORTH SHORE