The Sydney housing market is showing good growth this year, with many Northern Beaches suburbs experiencing an upward trend in median house prices. But, what really sets a home apart is great presentation. This not only ensures a quick sale but also a premium price.
Current market trends on the Northern Beaches
If we examine the current statistics for median house prices in the suburbs of Allambie Heights, Frenchs Forest and Freshwater, we can see that the market is still healthy, with buyers wanting to live here and sellers enjoying some great returns.
Allambie Heights
The median price for a house in Allambie Heights is sitting at around $2,500,000. This shows an increase in growth over the last 12 months of 12.4%. For property investors, houses in this suburb are currently fetching around $1,190 per week. This shows a rental yield of 2.7%.
There’s also high demand for houses in Allambie Heights with only 16 houses available in the past month and 59 houses sold over the last 12 months, and many more looking to buy here.
Frenchs Forest
Frenchs Forest is showing similar results with the median house price at $2,200.000 which shows a growth of 10% over the past twelve months. Rental yields in this suburb are coming in at 2.9% with an average rent of $1,162 per week for houses.
Frenchs Forest is also showing a high demand for houses with around 1771 interested buyers. With only 29 houses available for sale in March, and the last twelve months seeing the sale of 149 houses, supply is well and truly outstripped by demand.
Freshwater
Freshwater is a standout suburb that shows a median house price of $3,900,000. This represents an annual growth rate of 11.3% over the last 12 months. This is comparative to what prices were back in 2022. Apartments and units in this suburb show an even greater growth rate of 23.4% with a median price of $1,185,000.
The annual rental yield for houses in Freshwater is 2.2% with an average weekly rent of $1,500. On the other hand, units and apartments are showing a rental yield of 3.5% with an average weekly rent of $6.95.
It appears that demand is equally as strong in Freshwater with around 1725 interested buyers vying for 11 houses currently available this month. A total of 49 houses were sold in the suburb in the last 12 months.
Why presentation is everything
While these statistics are very promising, it’s still crucial for buyers to focus on overall presentation when putting their home on the market.
Many interested buyers in the Northern Beaches are looking for a home that they can move straight into, unpack and get on with their busy lives. There is currently an aversion to renovation projects, most likely due to the high cost of materials and the lack of available tradespeople to carry out the work, and because people buying here are busy with family and work and don’t have the time or energy for a project.
Instead, they want a comfortable home with modern features rather than things like outdated kitchens and bathrooms. Structural problems are also a red flag for many potential buyers in this area.
What does this mean for sellers?
Remember, you can always get in touch with us first so we can look through your home and give you our initial thoughts. We can offer suggestions on some improvements that you can make, and perhaps more importantly, what you don’t need to do.
This is an important step to ensure that any improvements that you intend to make don’t overcapitalise your investment and will reap the rewards that you want.
Selling in 2024? Give us a call today
If you have a home in the Northern Beaches suburbs that you want to put on the market, feel free to give us a call for an appraisal. Similarly, if you’re looking for a home to buy we’d be happy to show you what we currently have available and what we’ll be listing soon.
