- The median house price across the Northern Beaches has increased to $2.21M
- Represents a jump of 15.1% or $290,000 in just six months
- Curl Curl has seen its median house price increase by $25,000 per week
Demand for houses on the Northern Beaches of Sydney remains so high that, according to an analysis conducted by STRAND Property group, prices have risen by more than $10,000 a week this year.
From the December quarter last year to the June quarter this year, the median house price for the area has increased to $2.21 million – a jump of 15.1% or $290,000.
Michael Ossitt, STRAND Property Group Director and Northern Beaches specialists buyers agent, said the first six months of this year was the busiest he has ever experienced, describing the demand as “really quite unbelievable at times”.
“Even with the current lockdown in Sydney, demand is still extremely elevated, but available stock has all but dried up, which will probably mean even more price growth in coming months.”
Micheal Ossitt, STRAND Property Group
Mr Ossit added that many sale prices had been well above predictions, with some willing to pay ultra-premium prices.
Based on average monthly visits per listing, the top five suburbs in the area were Allambie Heights, Curl Curl, Collaroy Plateau, North Manly, and North Balgowlah.
Analysis of these suburbs that median house price growth of between 18% and nearly 25% during the first six months.
Curl Curl’s median house price has increased by about $25,000 every week this year so far, pushing its median up by $650,000 to $3.275 million.
SQM Research data shows a similar result for Curl Curl (postcode 2096), although that postcode will include surrounding suburbs:
Curl Curl, postcode 2096
“The Northern Beaches is one of the most desirable locations to live in Sydney, so affordability here is a relative term,” Mr Ossitt said.
“However, demand from buyers to purchase in Allambie Heights remains extremely high, as it does in Collaroy Plateau, North Manly and North Balgowlah.
“These locations offer very similar attributes to some of the region’s more well-known suburbs, but with lower buy-in prices – for now at any rate.”
The median unit price in the Northern Beaches increased from $955,000 to $1,020,000 – a rate of 6.8%, just over half the growth rate of houses.