Top Performing Suburbs

Top performing Suburbs NORTHERN BEACHES

Sydney’s Northern Beaches has seen immense growth in property values as the ongoing demand continues to rise from buyers who are looking to upgrade and investors looking to expand their portfolios. According to the October Domain House Price Report, the median house price for the Northern Beaches is now above $2.7 million, up by 46.1%. Previously sitting at $1.9 million, prior to the pandemic, buyers from across Sydney have started looking for more space, better lifestyle and the new work from home norm.

So, is it time for you to invest in a Northern Beaches home, too?

According to the 2019 Popular Projections, it’s estimated that the population of the Northern Beaches region will increase from 265,450 to 296,650 between 2016 and 2041.

These are promising numbers for investors and regional growth into the future.

TOP SUBURBS TO CONSIDER

BALGOWLAH: Balgowlah with a population of 7,961 people, 27.78% of which live in rental accommodation. The median listing price for houses is $2.8 million and this has increased by 33.33% over the past year. The median rent in Balgowlah for houses is $1,250 per week and the median rental yield is 2.32%.

BEACON HILL: Beacon Hill has seen its rental market tighten immensely during the COVID-19 pandemic. With the median home price sitting at $2.3 million, Beacon Hill has obtained an annual change of 44.5% in 2021.

MANLY: A survey of average capital gains or median home price increase in suburbs across the country shows that Manly obtained a 12.99% growth over a ten-year period. It has a capital gain of 45.0% for the past year, which is higher than average compared to its 63.14% growth within a fi ve-year period. With the median home price sitting at $4.4 million and the average rent at $1,415. Property owners can potentially earn a 1.65% increase in gross rental yield.

NEWPORT: With a population of at least 9,302 people, Newport’s median listing price for houses is $3 million, recording a 44.5% increase over the past year. On the other hand, the median rent for houses is $1,200 per week and the median rental yield is 2.08%.

PALM BEACH: A beautiful suburb with a population of around 1,592 people, Palm Beach’s median listing price for houses is at $5.7 million, showing a notable 45.2% increase in the past year. On the other hand, the median rent in Palm Beach for houses is at $1,250 per week and the median rental yield is 1.11%.

WARRIEWOOD: Warriewood has shown an average capital gain of 39.63% over the past year. This is higher than average compared to its 55.49% growth within a fi ve-year period. With the median home price sitting at $2.1 million, and the average rent at $1,225 per week, property owners can potentially earn a 2.85% increase in gross rental yield. TOP SUBURBS FOR APARTMENT INVESTORS

With the reopening of the Australian borders to international students and ex-pats after two years of restrictions, it’s expected that rental demand in Sydney will boom. Below are the top Northern Beaches suburbs for apartment investors:

BROOKVALE: With over 1,436 listed rental properties, Brookvale’s median unit price sits at $1.1 million with 30% annual price growth.

DEE WHY: With a list of over 9,002 properties, the suburb’s median unit price is at $1.1 million and a notable 35% annual price growth.

MANLY VALE: Manly Vale has a list of 1,713 properties with a median unit price of $1.1 million as well as a 35% annual price growth.

Now is your opportunity to invest in a Northern Beaches property. If you are looking for that perfect balance of an incredible lifestyle and a great return of investment, then the Northern Beaches region is the place to buy.

Start your property journey. Speak with the Upstate team today and they’ll show you the possibilities. •

PROPERTY INVESTMENT & REAL ESTATE INVESTOR / BUYERSBUYERS WORDS: UPSTATE REAL ESTATE / SOURCES: SMART

SUITE 15, LEVEL 1, 888 PITTWATER ROAD, DEE WHY (02) 9971 9000 // www.upstate.com.au // INSTA: MY_UPSTATE