Did you know that right now, property prices are booming in the Northern Beaches areas? Many city people are looking for a more relaxed lifestyle and that’s exactly what suburbs in the Northern Beaches offer. For these people, moving to regional areas or to Queensland is out of the question due to the current and ongoing restrictions.
That’s precisely why these prospective buyers and renters are eagerly flocking to our Northern Beaches suburbs in the search of a more laid-back lifestyle.
Northern Beaches housing boom
Currently, prices for homes in the Northern Beaches property market are still rising, some by as much as $10,000 a week since the beginning of the year. In recent months, prices in some suburbs have risen by as much as 28.5 per cent.
So, if you own a home in one of the most sought-after suburbs or even an adjacent suburb, you can ride the boom and take advantage of the extra capital gains.
Similarly, if you’re looking for an investment property, you should consider buying one in the Northern Beaches region because rentals are also in high demand in these suburbs. And, you won’t be disappointed by the rental returns that you’ll receive.
High-performing suburbs and how to find value
While they might be priced out of some high-performing suburbs, property investors should look at suburbs adjacent to those most in demand.
Northern Beaches suburbs that are seeing the most growth are suburbs adjacent to Curl Curl, Collaroy, Brookvale, Manly Vale and Narraweena.
For long-term capital growth and strong rental demand, property investors should take a closer look at adjacent suburbs like Allambie Heights, Cromer, and Freshwater.
Prices in these areas ‒ but across the Northern Beaches in general ‒ are predicted to increase steadily. Demand is high currently and doesn’t look like slowing down any time soon. Similarly, rental demand is also high, with few properties currently available and rental returns rising steadily from pandemic lows.
Dee Why, formerly regarded as the poor relation of the Northern Beaches, also deserves attention especially if you’re looking to invest in a unit. This suburb currently has one of the lowest vacancy rates of only 1.1 per cent. This indicates that there are more tenants looking than there are available rental properties.
The relatively new Northern Beaches Hospital at Frenchs Forest has given a boost to property prices in nearby areas while the redeveloped Glenrose shopping precinct has added value to suburbs such as Belrose. Good local schools (including a Montessori school at Forestville and the International School of Music at Frenchs Forest) make this area attractive to families and property investors alike. Potential buyers are ‘trying before buying’ and choosing to rent while they wait for their perfect home on the Northern Beaches.
Overall, the Northern Beaches region has a vacancy rate of under 2%, which definitely makes this a landlord’s market.
Are you ready to sell your Northern Beaches property?
If you own a property in the Northern Beaches and you want to put it on the market, you should consider letting JDH help you with the sales process. Our experienced sales agents can explain how best to showcase your property to potential buyers. We can also help you choose the best method of sale, whether it’s private treaty or auction.
For example, we can suggest ways to improve the kerb appeal of your home so that first impressions are extremely favourable when someone does a drive-by. We can also help with interior staging and styling to make the photos of your interior really stand out online and on the sales board.
All of this will ensure you attract more potential buyers and achieve the best price for your property.
Looking for an investment property in the Northern Beaches?
With so many Sydneysiders flocking to the Northern Beaches for a different lifestyle, now is a great time to invest. Let JDH guide you to the best suburbs to purchase your investment property. We have a handle on the current market and can assist you with information on prices and current availability. We can also advise which suburbs currently have the highest rental demand.
With our expert market knowledge, we can even help you find a suitable property that may be adjacent to one of the high-demand suburbs. Quite often, as demand exceeds supply, these suburbs will be next in line to boom.