The Agency has extended its reach in Sydney’s Upper North Shore market with the appointment of Glenn Curran as a Property Partner, with Mr Curran predicting a strong year of sales on the back of a resurgence in overseas buyers.
Mr Curran and his team, including Senior Associates Marcus Lee and Dan Bramley, will be be based at The Agency Upper North Shore offices in Lindfield and will focus on the suburbs of Lindfield, Killara and Gordon.
“I was impressed by what The Agency has done as a brand and their growth as a business, especially over the last two to three years, they’ve got themselves a national footprint in six states and over 400 agents,” he said.
“That happening within six years is testament that they’re on to a good formula.
He added that The Agency’s large network of agents would help him and his clients.
“One of the good things was I know a lot of agents in that network, and a lot of other prestige agents that work within the Sydney prestige space,” he said.
“It can just help me connect my clients through to other key markets, like the Lower North Shore, or the eastern suburbs, or the northern beaches,” he said.
Mr Curran expected values across Sydney to fall by “potentially five to 10 per cent” in 2023, depending on what the Reserve Bank of Australia decided to do with the cash rate.
However, a resurgence in overseas buyers on the Upper North Shore would help prop values up, he said.
“That trend is central to the Upper North Shore market, where we haven’t had a lot of the overseas buyers for the last three years due to lockdowns in their home countries … they’re going to be a big player back in our market again,” he said.
“The key drivers for that are the quality educational institutions that we have on the North Shore, including some of the top private schools in Sydney.”
He said many of these buyers wouldn’t be put off by short-term trends in the local market.
“When you’ve got people coming to Australia, they’re looking at longer term plays,” he said.
“They’re asking, ‘Is that going to be in the right spot? Is my child going to be able to access school easily?’
“They’re looking at what the Upper North Shore has to offer and seeing that it still shows good value.
“That demand will soften any big declines in our market in particular.”