THE PROPERTY MARKET ON THE BEACHES
words by: tara wesson // photography by: lj hooker dee why
When experience, style and connections count, partner with the team that sells more property than any other brand* on the peninsula. LJ Hooker Dee Why will work tirelessly to understand you and your needs, while providing unparalleled knowledge of the local property market.
The Northern Beaches is currently one Sydney’s best performing regions. Strong levels of buyer demand, as evidenced by elevated auction clearance rates, combined with a distinct lack of properties on the market for sale has seen competition between buyers heat up, leading to some significant capital growth over the past two years.
The average median house sales price is $2.05 million. This ranges from $895,000 on Scotland Island to $3.85 million at Whale Beach. The average median unit sales price is $957,000. This ranges from $450,000 in Belrose to $1.30 million in Seaforth.
The suburb with the most house sales, over the past 12 months, was Avalon with 167 transactions and a median house sales price of $1.64 million. In addition, Avalon also had 94 unit sales at a median unit sales price of $786,100. Dee Why saw the unit sales take place over the past 12 months with 529 transactions at a median sales price of $796,000.
Church Point achieved the highest median house price growth, over the past 12 months, up 36.7% and now has a median house sales price of $2.475 million. Over the past year, Queenscliff had the highest unit sale price growth, up 25.1% and now has a median unit sales price of $1.04 million.
Properties on the Northern Beaches are also in high demand from tenants. Balgowlah Heights currently has the most expensive house rents, at $1,550 per week. While Scotland Island has the most affordable at $550 per week. Manly currently has the highest median unit rents at $750 per week, while Dee Why has the most affordable at $550 per week.
The suburb with the best house rental yield is Fairlight which currently has a median gross rental yield of 3.33%. The highest rental yield for units is Brookvale which has a median gross rental yield of 5.02% and a median price of $570,000.
*Data prepared by LJ Hooker using CoreLogic total market data
Christian Ryals - Principal
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