Sydney's northern beaches are seeing renewed interest from investors and property buyers, with five suburbs showing sizable gains in median prices since the start of the year.
A recent study by STRAND Property Group showed that the median price of homes in the Northern Beaches area has increased by $ 10,000 per week so far this year.
In fact, during the first half of the year, the median home price in the area increased by $ 290,000, an increase of 15.1% to $ 2.21 million.
STRAND Property Group director Michael Ossitt said the demand for homes in the northern beaches came at a rather "unbelievable" time.
"Even with the current foreclosure in Sydney, demand is still extremely high, but on-hand stock has practically dried up, which will likely lead to even greater price growth in the months to come," said said Mr. Ossitt.
Five suburbs have driven the overall upward trend of northern beaches, including Allambie Heights, Curl Curl, Collaroy Plateau, North Manly, and North Balgowlah.
Among the top performing suburbs, Curl Curl recorded the strongest growth in median prices during the first half of the year at 24.7% to $ 3.28 million.
"The median price of Curl Curl homes has climbed by almost 25%, to a staggering $ 650,000, during the period, which equates to about $ 25,000 per week this year," he said. declared Mr. Ossitt.
The more affordable suburbs of the region are also becoming popular among interested shoppers.
However, Mr Ossitt said affordability remains relative in this region given that it is one of the top places to live in Sydney.
"However, demand from buyers to buy in Allambie Heights remains extremely high, as is the case in Collaroy Plateau, North Manly and North Balgowlah.
“These locations offer very similar characteristics to some of the more well-known suburbs in the area, but with lower purchase prices, at least for now. "
Top Suburbs:
willliamstown
,
Westmead
,
murdoch
,
darlington
,
night cliff
Get Help With Your Real Estate Investment
Do you need help finding the right loan for your investment?
When investing in real estate it is important to make sure you have no only from the lowest rate available, but also have the loan features to suit your needs.
Just fill out a few details below and we will then arrange for a local mortgage broker contacts you and determines the characteristics or types of loans that suit your needs. We'll even help you with the paperwork. In addition, an appointment is free.
We value your privacy and take all your information seriously – you can check
our privacy policy here
