Domain Residential
Peninsula Market Review
2022 / 2023
The year in review 2022 What’s in store 2023
After recording a 27.7% rise in housing values between October 2020 and January 2022, Sydney home values are down -11.4% since peaking and the Peninsula was not immune to this change. The following pages contain some interesting suburb statistics for our core market area.
The tail end of COVID’s social effects, widespread floods, the Ukraine War, a Federal election were all contributing factors - but with out a doubt the single most important factor was the Reserve Banks sudden increases in interest rates.
Late 2022 has seen some green shoots - buyer activity at open homes has improved, sales are being made - and there is a strong underlying sentiment that we may be at or near the bottom of price corrections locally.
So what does 2023 hold for residential property?
The big 4 banks are now predicting the possibility of one more rate rise early in the year - then a ‘steady as she goes’ approach before rates possibly going down as early as late 2023.
The long-term fundamentals remain strong. Population growth is assured with a doubling of Sydney population by mid-century (overseas migration is already ramping up); unemployment remains historically low at around 3.4%, and there are recent numbers suggesting that inflation is beginning to flatten out and decline.
There is a feeling that there is a window of opportunity to get into the property market before the overall market picks up again. Rather than trying to pick where we are at in ’the cycle’, if your income is secure and the time is right for you, take a longer term view. This may be an ideal time to get a foothold in the Northern Beaches property market while others are sitting on the sidelines.
DISCLAIMER: All information contained in this report has either been provided to us by a third-party, or otherwise and we have no reason to doubt it’s accuracy but do not take any responsibility for it. All interested parties should rely upon their own inquiries as to whether or not this information is accurate.
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4 Newport
APARTMENTS MEDIAN PRICE VOLUME OF SALES
DAYS ON MARKET HIGHEST SALE
SALES
SALES 71 DAYS 44 DAYS
STATISTICS
POSTCODE 2106 HOMES
AV
$3,100,000 $1,092,500 83
72
$14,600,000 $2,035,000
5 Newport Showcase Sales 2/10 Kalinya Street, Newport $1,800,000 61 Herbert Avenue, Newport $3,725,000 40 Cheryl Crescent, Newport $2,410,000 6/14 Queens Parade, Newport $1,220,000 75 Prince Alfred Parade, Newport $6,100,000 110 Prince Alfred Parade, Newport $7,500,000
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Vale
APARTMENTS MEDIAN PRICE VOLUME OF SALES
DAYS ON MARKET $2,512,500
74 SALES 71 SALES 52 DAYS 54 DAYS $13,000,000
STATISTICS HIGHEST SALE
Mona
POSTCODE 2103 HOMES
AV
$1,400,000
$4,000,000
7 Mona Vale Showcase Sales 2/24-26 Golf Avenue, Mona Vale $4,500,000 23 Waterview Street, Mona Vale $2,425,000 10 Crescent Road, Mona Vale $1,755,000 2/72 Park Street, Mona Vale $2,400,000 7/151 Darley Street, Mona Vale $2,090,000 23a Heath Street, Mona Vale $2,550,000
Domain Projects New projects & developments
DOWNSIZING ON THE NORTHERN BEACHESIf you’re looking to downsize into a luxury apartment on the Northern Beaches then Domain Projects has delivered over 120 developments over the last 30 years and no other company has a more trusted and reliable name. Dealing with only the best developers, architects, interior teams and builders, our track record represents the best of the best apartments and townhomes across the beaches.
Its an exciting time for those looking to downsize as we have what we would consider one of the best collection of projects across the beaches that we have ever offered, with projects from Palm Beach to Collaroy, valued at more than $500,000,000 in planning or under construction.
In simply one face to face meeting with one of our experienced full time project professionals, we can
showcase all the options available in terms of new projects over the next 4 years in one simple meeting. This will save you invaluable time and more importantly ensure you get the right home as most of our projects tend to sell to our extensive client base. Selling projects off the plan is an extremely specialised task and our team is the most qualified on the beaches having over 100 years combined experience and 200 major projects between them.
We would urge you to meet with us face to face at our office or one of our display suites and let us talk you through the values, availability and structures that will take the stress out of downsizing and selling the family home.
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9 David Poppleton PROJECT SALES 0404 888 363 BAYSIDE - MONA VALE A boutique complex of 12 apartments on Pittwaters foreshore. OCEANS - NEWPORT Ultra luxury 3 Bed apartments with lift access. MAYA - MONA VALE 1 + 2 + 3 Bed apartments in the heart of the village. NORFOLK - AVALON BEACH A stunning combination of beachside apartments + townhomes. Current projects on our beaches Project Sales Julianne Grant PROJECT SALES 0421 081 623 Peter Grant DIRECTOR / PROJECT SALES 0412 527 071 Simon Gourley PROJECT SALES 0418 229 224 If you would like to find out more about any of our current or upcoming projects, contact one of our team below.
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SALE
Warriewood POSTCODE 2102 HOMES APARTMENTS MEDIAN PRICE VOLUME OF SALES AV DAYS ON MARKET $2,225,000 $1,320,000 50 SALES 58 SALES 64 DAYS 43 DAYS $4,800,000 $1,980,000 STATISTICS HIGHEST
11 Warriewood Showcase Sales 9 Harris Street, Warriewood $2,400,000 168 Warriewood Road, Warriewood $2,190,000 172 Warriewood Road, Warriewood $2,000,000 34 Shearwater Drive, Warriewood $2,270,000 34 Dove Lane, Warriewood $2,600,000 233 Macpherson Street, Warriewood $1,900,000
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Bayview / Church Point POSTCODE 2104 HOMES APARTMENTS MEDIAN PRICE VOLUME OF SALES AV DAYS ON MARKET $2,900,000 $4,000,000 54 SALES 1 SALE 61 DAYS 121 DAYS $8,500,000 $4,000,000 STATISTICS HIGHEST SALE
13 Bayview / Church Point Showcase Sales 37 Minkara Road, Bayview $5,750,000 25 Sunnyridge Place, Bayview $5,150,000 12 Barkala Road, Bayview $3,900,000 3 Pamela Crescent, Bayview $2,550,000 22 Corniche Road, Church Point $2,170,000 12 Quarter Sessions Road, Church Point $3,625,000
Domain Residential Property & Asset Management
An increase in demand and a lack of supply saw rents increase across the beaches in 2022 - just on 16% for houses and 4% for apartments. The high-end / luxury segments were particularly strong and with extremely low vacancy rates. With share market uncertainty and a readjustment in sales prices - investors have returned to the property market.
We forecast continued strength in 2023 - the Northern Beaches is an extremely coveted lifestyle locationmaximising your investment returns will be an objective Domain look forward to assisting you with.
Driven by an award-winning team of experienced professionals, we are committed to providing you with outstanding customer service to help you achieve your goals.
We believe the process of renting your property should be as comfortable, smooth and successful as possible.
We utilise the very latest in technology to ensure our landlords and tenants have access to the best services available for a smooth tenancy as well as peace of mind.
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PORTFOLIO & INVESTMENTS 0481 271 252
Fiona Carfrae
Natalie Parsons SENIOR PROPERTY MANAGER 0412 591 219
15 HOMES APARTMENTS AV WEEKLY RENT DAYS ON MARKET VACANCY RATE $1152 $736 9 DAYS 7 DAYS 1.0% <1.0% STATISTICS 93 Narrabeen Park Parade $2,450 per week Domain Showcase Rentals 2/25-31 Darley St, Mona Vale $1,650 per week 50 Minkara Road, Bayview $1,800 per week Domain Residential Statistics for 2022
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MEDIAN PRICE VOLUME OF SALES
DAYS ON MARKET $2,310,000
64 SALES 130 SALES 37 DAYS 44 DAYS $8,050,000 $4,300,000
HIGHEST SALE
Narrabeen / North Narrabeen POSTCODE 2101 HOMES APARTMENTS
AV
$1,385,000
STATISTICS
17 Narrabeen / North Narrabeen Showcase Sales 23 Oak Street, North Narrabeen $1,850,000 10 Tourmaline Street, Narrabeen $3,440,000 2/208-210 Ocean Street, Narrabeen $2,320,000 6/179 Ocean Street, Narrabeen $2,275,000 4/26 Malcom Street, Narrabeen $875,000 17 Irrawong Road, North Narrabeen $1,695,000
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MEDIAN PRICE VOLUME OF SALES AV DAYS ON MARKET $2,657,000 $995,000 50 SALES 5 SALES 41 DAYS 57 DAYS $7,150,000 $1,350,000
HIGHEST SALE
Elanora Heights / Ingleside POSTCODE 2101 HOMES APARTMENTS
STATISTICS
19 Elanora Heights / Ingleside Showcase Sales 71 Ingleside Road, Ingleside $3,200,000 46 Waratah Road, Ingleside $3,395,000 10 Cicada Glen Road, Ingleside $7,150,000 76a Elanora Road, Elanora Heights $2,450,000 22 St Andrews Gate, Elanora Heights $3,000,000 26 Weeroona Avenue, Elanora Heights $1,930,000
0404 052 241
Meet our team
A DIFFERENT APPROACH TO REAL ESTATE
We don’t see ourselves simply as real estate agents. After all, guiding you through the process of buying or selling a home isn’t just a transaction, it’s a responsibility – one we’re honoured to share with you.
We want to help you transform your life and take away the fear involved in buying and selling real estate. And our promise is to find you the home that lets you live the ultimate Northern Beaches lifestyle for your budget, regardless of how big or how small that might be.
We try to bring the best of what the Northern Beaches is about to everything we do. So, even though we’re committed to our business and to your success, we always keep our cool. We believe in being direct, transparent and honest, not full of sales speak or bravado.
We don’t stand on ceremony or formality, so you’re more likely to find us in jeans and t-shirts than in a suit and tie. You’re likely to bump into us cheering the kids on at the weekend sport, hitting the surf, enjoying our local eateries and enjoying all that the Northern Beaches lifestyle has to offer.
Feel free to contact us for obligation free Real Estate advice.
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Karen Vuko EXECUTIVE ASSISTANT
Nik
Vuko DIRECTOR / RESIDENTIAL SALES 0416 029 417
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Elsegood DIRECTOR / RESIDENTIAL SALES 0425 333 864 Fiona Gage RESIDENTIAL SALES 0416 331 766
Jack
MARKETING
Claudia Norkett
Belinda Hardy RESIDENTIAL SALES 0422 638 698 Matt Hardy DIRECTOR / RESIDENTIAL SALES 0421 998 998
Charles Baynie AUCTIONEER
To help get your year off to a great start, Domain Residential are offering the following great packages from now until the 30th of March.
Selling your home?
List your property from now until March 30th with Domain Residential and receive free photography, signboard and brochures.
Leasing your property?
To take the stress out of owning your investment property, list your property with our great team prior to March 30th and receive 12 months free landlord insurance from Terri Scheer, Australia’s #1 landlord insurance provider.
FIND OUT MORE
Contact your preferred Domain Sales professional on their listed mobile number or call the office on 02 9999 0005 and mention either the sales or property management incentives, and take advantage of these great offers.
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SPECIAL
CURRENT
PACKAGES
Kick start your 2023...
FREE PHOTOGRAPHY FREE SIGNBOARD FREE BROCHURES
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LANDLORD
MONTHS FREE
INSURANCE
Domain Residential 3/54 Darley Street, Mona Vale 2103 9999 0005 www.domainresidential.com.au