Northern Beaches Real Estate update

Buyers and sellers are still reluctant to meet each other on pricing and as such the number of sales in the area is down 27% compared to this time last year. Buyers should be aware that if they plan to move this year and be settled into their new home before Christmas, then they have about three weeks to make a purchase.

I love mid-century apartments, and there are lots of them in our area. They are mainly in smaller blocks of up to 12 apartments, with balconies, lock-up garages and windows on two or three sides of the apartment, providing great natural light and cross-flow ventilation. They are also well-built, with concrete floors and high ceilings, which make them easy to renovate. Think of the northern side of Sydney Road in Balgowlah and Manly Vale behind Manly Golf Course. They always rent well, and with no lifts, gyms or swimming pools to maintain, the strata levies are generally reasonable compared to larger modern complexes with more facilities.

One of the changes we have seen in recent years is that more and more of these properties are now being purchased as homes for both downsizers and young families. A recent example is our sale of 14/10 Bentley Street, Balgowlah, which sold for $1,225,000. The building was home to many families with young children. View 14/10 Bentley Street, Balgowlah

More and more buyers are seeing the value in these apartments. There was a great article in the Sydney Morning Herald yesterday explaining why these types of apartments are now so sought-after. 

“Savvy homeowners and investors alike are increasingly discovering the value in these modest properties built in the 1950s, 60s and 70s, both as comfortable environments to live – as well as safe places to park their money.”: Read the Sydney Morning Herald article

This week we are showing buyers through two exclusive off-market properties. The first is a stunning five-bedroom house in Balgowlah Heights, completely renovated with a pool and beautiful views across Manly Cove and out to the ocean. The second is an exceptional property in Clontarf, boasting spectacular views. If either of these properties sounds like something you are looking for, please give the team a call to find out more or arrange a private inspection.