Narrabeen Property Market Update

Narrabeen/ North Narrabeen

Market Update Lachlan Yeates James Leith YOUR LOCAL AGENTS

Suburb sales 256

Total sales in Narrabeen and North Narrabeen over the last 12 months

8/88 Lagoon Street

5 Goodwin Street

159 Ocean Street

48 Lindley Avenue

165 Ocean Street

230 Ocean Street

14/144 Ocean Street

103/1-5 Narrabeen

69 Wimbledon Avenue

83 Wimbledon Avenue

143 Ocean Street

11/88 Lagoon Street

Suburb statistics How Narrabeen and North Narrabeen performed over the last 12 months

$7,400,000

$3,260,000

$1,280,000

Highest sale price

Median House price

Median Unit price

21

40

215

Average days on market - House

Number of house sales

Number of unit sales

17.5

$1,000/week

$650/week

Average days on market - Unit

Average rental price - House

Average rental price - Unit

14.3%

24%

Capital growth - houses

Capital growth - units

Sources: REA and Core Logic. Please note that property sales data is routinely updated, so may change retrospectively.

Market wrap The 2021 property market saw the sharpest capital growth in a 9-month period, averaging over 50% on the Northern Beaches. Low stock and the demand for lifestyle increased prices last year and predictions were uncertain on whether this would maintain in 2022. The first quarter of 2022 saw an 80% increase in stock compared to the previous year which caused the market to stabilise.

Properties that continued to see record results were top end homes and apartments along with property campaigns that had the right strategy in place.

With strong enquiry numbers and new buyers entering the market weekly, those who choose to sell now instead of holding off until Spring or Summer have the potential to reap excellent results. Overseas migrants and residents returning home will continue to flow steadily influencing both the sale and rental market throughout the year.

The Northern Beaches is an attractive market for both homeowners and investors as it offers all the conveniences with the attractive beachside lifestyle.

If you’re thinking of selling, speak to the team who continue to break sale records by working hard at getting the highest market price.

How Upstate performed in 2021

544

615

$10,125,000

Residential sales

Residential leased

Highest sale price Northern Beaches

108

123

118,000+

Commercial sales

Commercial leased

Prospective buyers on our database

Auction clearance rates MAY 2021 - MAY 2022 AVERAGE

78%

77%

77%

Auction clearance rate Upstate

Auction clearance rate Sydney

Auction clearance rate Northern Beaches

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Number 1 Northern Beaches single office, with the biggest team and database.

NUMBER OF TRANSACTIONS 2021 500

400

300

200

100

NOVAK

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CLARKE AND HUMEL

CUNNINGHAMS BALGOWLAH

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Lachlan Yeates

James Leith

0414 660 033

0451 008 670

lachlan@upstate.com.au

james.l@upstate.com.au

Director in Charge

Licensed Real Estate Agent

A PLEASURE TO WORK WITH

HIGHLY RECOMMENDED

From the very beginning of the selling

James did an excellent job both in

process Lachlan was always forthright

securing our new home and selling

and gave us great confidence that

our existing property. With the help of

he recognized the potential of our

Concierge service offered by Upstate,

home in the current market. He was

which is a great point of difference,

always a pleasure to work with,

he helped present our property

took a personal interest and worked

immaculately. James’ attention to

hard to achieve the best outcome

detail was 1st rate, and he offered

for us. We would have no hesitation

a personalised service at all times.

recommending Lachlan and his team.

In the final negotiations he helped

We were delighted with the outcome.

achieve a fantastic result which we

Vendor Review - North Narrabeen

greatly appreciated.

Vendor Review - Narrabeen

$10,000,000

60%

1,375

Highest sale price

Repeat clients + referrals

Total properties sold

upstate.com.au

YearS YOUNG

1922-2022