Market wrap

The Northern Beaches saw exponential growth in 2021 with property prices across the region increasing 30% on average. Although the market softened in 2022 with drops around 10% - 20%, Elanora experienced the lesser effect of this and held property value better than neighbouring comparative markets. Driving this stability is out-of-area buyers continuing to show strong interest in the Northern Beaches lifestyle, and low stock levels, which creates ideal conditions if you’re thinking of selling.

The median house price in Elanora has seen an increase from $1.94m in January 2023 to $2.06m in March 2023, whilst rental yields rose to 3.10% in the last 12 months, likely driven by the recent interest rate rises and landlords passing their mortgage increase onto tenants.

The Northern Beaches offers an exceptional choice for upsizers, downsizers, investors, and first-time buyers, resulting in continued demand for the region in any market.

For more information on the current market in your local area, contact David Bain today on 0405 620 920.