Mona Vale Blog

The following report provides an overview of the real estate market on the Northern Beaches of Sydney for the financial year ending 2023. It includes key statistics and trends related to property sales, price movements, and market conditions.

Our Performance:

Sales:

Sales: 115+

Avg Sales Price: $2.03m

Total Sales Volume: $237m

Days on Market: 37

Rental:

Leased: 48

Avg Leased Price: $872.5/w

Days on Market: 14

Investor Activity - Should you buy on the Northern Beaches?

Investor activity in the Northern Beaches real estate market remained strong. The low vacancy rates and steady rental yields attracted investors seeking stable returns. Additionally, the region's reputation as a sought-after tourist destination and proximity to beaches and natural attractions made it an appealing location for short-term rentals and holiday homes.

Future Outlook

Looking ahead, the Northern Beaches real estate market is expected to maintain its current trajectory. Continued population growth, limited land availability, and the area's desirable lifestyle will likely contribute to sustained demand. However, it's important to monitor interest rate changes, government policies, and economic conditions, as they can influence market dynamics and buyer sentiment.

Summary

The Northern Beaches real estate market has exhibited robust performance during the 2022-2023 financial year. Increased property sales, steady price appreciation, and a competitive rental market indicate a healthy and sought-after market. As the region continues to attract buyers and investors, it remains an attractive location for those seeking a beachside lifestyle or a solid investment opportunity.

General Market Update - Positive news!!!

Property owners can celebrate as the national housing market continues to rebound impressively, despite the recent interest rate hike in June. The growth in home values, as reported by CoreLogic's home value index, has gained even more momentum, with an average increase of 2.3% over the last three months.

The good news doesn't end there for property owners looking to sell this winter. Raine & Horne's latest property data reveals a remarkable surge of 23.84% in the number of attendees at open for inspections throughout Australia in May, compared to earlier in the year.

Although sales volumes remain lower year-on-year, estimated to be around -21.5% by CoreLogic, the enthusiasm among buyers is evident. With a high level of interest and fewer properties available for sale, it presents an opportune time for property owners considering a sale to seize the moment and make the most of this vibrant and active market.

If you are considering buying or selling on the Northern Beaches this Winter please contact us today, we would love to provide assistance and professional advice, obligation free.

Statistics derived from Realestate.com.au & CoreLogic, we do not take responsibility for the accuracy of data.