Sydney’s Northern Beaches region has seen immense growth in property values as the ongoing demand continues to rise from buyers who are looking to upgrade and investors looking to expand their portfolios.
According to the October Domain House Price Report, the median house price for the Northern Beaches region is now above $2.7 million, up by 46.1%. This was previously sitting at $1.9 million prior to the pandemic, however buyers from across Sydney have started looking for more space and a better lifestyle due to lockdowns and the new work from home norm, driving a major shift in property prices.
So, is it time for you to invest in a Northern Beaches home, too?
In this article, we’ll list the top areas to invest in the Northern Beaches so you can have an idea of which suburbs you should be looking into this 2022.
Why invest in Northern Beaches property?
If you are looking for a property within a thriving community, Sydney’s Northern Beaches is the place to be. With its coastal neighbourhood promoting an active lifestyle, it’s popular with beachgoers, families, the surfing community and water sports enthusiasts.
Not only does the Northern Beaches offer incredible liveability and convenience, it’s also an ideal area to invest in real estate. with a long-standing reputation for great capital growth and rental yields.
With more Sydneysiders looking for a balanced lifestyle since the COVID-19 pandemic, suburbs across the Northern Beaches are perfect for people and families from all walks of life who are looking to settle in a coastal neighbourhood that’s in easy reach to the city.
The top Northern Beaches suburbs to consider
According to the 2019 Popular Projections, it’s estimated that the population of the Northern Beaches region will increase from 265,450 to 296,650 between 2016 and 2041.
These are promising numbers for investors and regional growth into the future.
Here are just some of the top suburbs in Northern Beaches to invest in 2022:
Warriewood has shown an average capital gain of 39.63% over the past year. This is higher than average compared to its 55.49% growth within a five-year period.
With the median home price sitting at $2.1 million, and the average rent at $1,225 per week, property owners can potentially earn a 2.85% increase in gross rental yield.
- Palm Beach
A beautiful suburb with a population of around 1,592 people, Palm Beach’s median listing price for houses is at $5.7 million, showing a notable 45.2% increase in the past year.
On the other hand, the median rent in Palm Beach for houses is at $1,250 per week and the median rental yield is 1.11%.
A survey of average capital gains or median home price increase in suburbs across the country shows that Manly obtained a 12.99% growth over a ten-year period. It has a capital gain of 45.0% for the past year, which is higher than average compared to its 63.14% growth within a five-year period.
With the median home price sitting at $4.4 million and the average rent at $1,415. Property owners can potentially earn a 1.65% increase in gross rental yield.
- Beacon Hill
Located just 17 kilometres northeast of the Sydney CBD, Beacon Hill has seen its rental market tighten immensely during the COVID-19 pandemic.
With the median home price sitting at $2.3 million, Beacon Hill has obtained an annual change of 44.5% in 2021.
With a population of at least 9,302 people, Newport’s median listing price for houses is $3 million, recording a 44.5% increase over the past year.
On the other hand, the median rent for houses is $1,200 per week and the median rental yield is 2.08%.
Balgowlah is a beautiful suburb in the Northern Beaches Region with a population of 7,961 people, 27.78% of which live in rental accommodation. The median listing price for houses is $2.8 million and this has increased by 33.33% over the past year.
The median rent in Balgowlah for houses is $1,250 per week and the median rental yield is 2.32%.
Sources: Smart Property Investment & Real Estate Investor
Top suburbs for apartment investors in the Northern Beaches
With the reopening of the Australian borders to international students and ex-pats after two years of restrictions, it’s expected that rental demand in Sydney will boom.
So, here are the top Northern Beaches suburbs for apartment investors:
- Dee Why
With a list of over 9,002 properties, the suburb’s median unit price is at $1.1 million and a notable 35% annual price growth.
- Manly Vale
Manly Vale has a list of 1,713 properties with a median unit price of $1.1 million as well as a 35% annual price growth.
With over 1,436 listed rental properties, Brookvale’s median unit price sits at $1.1 million with 30% annual price growth.
Now is your opportunity to invest in Northern Beaches property
Coastal apartments are the next big investment opportunity in Sydney, as vacancy rates drop and housing supply tightens across the city over the next few months.
So, if you are looking for that perfect balance of an incredible lifestyle and a great return of investment, then the Northern Beaches region is the place to buy.
Let’s discuss your options.
Our Upstate real estate specialists can make your property goals come true. To start your journey take a look at our current properties for sale here or our new project developments which could help you earn a profit before the build has been completed.
Speak to your local Upstate team today and we’ll show you the possibilities that earn excellent results. We look forward to chatting with you soon.
The Upstate Team