2024 Property Report Lower Northern Beaches
Guildea had a fantastic last 12 months with sales ranging from a waterfront auction sale in Seaforth Crescent for $10,100,000 to a renovated 2 bedroom garden apartment in George St Manly for $1,4750,000. The market is currently being driven by four factors. 1. Interest rates are at their highest level in over 10 years. This is affecting the amount that people can borrow and slowing price growth. 2. The cost of building materials and labour has increased insignificantly over the last 3 years. This has resulted in new and renovated properties selling at a premium compared to unrenovated homes, which are selling at a discount. 3. The limited amount of apartments and houses on the Lower Northern Beaches. Very few new properties are being built and there is no more land available. Meanwhile, demand to live in the area is increasing. 4. The huge rise in immigration Sydney wide over the last 2 years is moving more families and young couples to the Manly district and more people from the Upper North Shore and Inner West are also moving to enjoy the beach and harbour lifestyle we all love so much. I expect that we will be in a balanced steady market for the year which is a great time to be buying and selling as prices aren’t fluctuating making the moving process much easier. Rental prices continue to rise on the back of record low vacancy rates of 1.7%. The biggest demand is for properties under $1,500pw. Because of the low vacancy rates and increased demand we have seen prices rise by 10% to 15% over the last 12 months. The only exception is the premium end of the market where rentals over $2,000 per week have remained constant. If you are looking at buying, selling, or renting please reach out to us as we would love to help you with your property goals in 2024. Best wishes Jason Guildea – Principal 0411 859 505 jason@guildea.com.au Welcome to Guildea Residential
Market Overview November 2023 - January 2024 for postcodes 2092, 2093, 2094, 2095 Clontarf Seaforth Balgowlah Balgowlah Heights North Balgowlah Fairlight Manly Clontarf Seaforth Balgowlah Balgowlah Heights North Balgowlah Fairlight Manly Median sales price – House Total Houses Sold Total Units Sold Median sales price – Unit Source: Switch Property Intelligence on exchanged/ settled sales. Information is for general use, please rely on your own enquiries. Clontarf Seaforth Balgowlah Balgowlah Heights North Balgowlah Fairlight Manly Clontarf Seaforth Balgowlah Balgowlah Heights North Balgowlah Fairlight Manly $3,446,250 $1,525,000 $3,853,500 $1,105,000 $2,550,000 $3,400,000 $2,157,500 $8,000,000 - $2,942,500 $3,390,000 - $995,000 - 8 12 7 17 3 8 6 63 20 0 2 0 14 0
Our recent sales achievements 3 Adrian Place, Balgowlah Heights 109 Seaforth Crescent, Seaforth 29 Gurney Crescent, Seaforth 95-99 Seaforth Crescent, Seaforth $3,350,000 $4,600,000 $3,200,000 $10,100,000 5 3 2 4 2 1 4 3 1 5 3 4
8 Fisher Street, Balgowlah Heights 41 Beatty Street, Balgowlah Heights 11 Harvey Street, Seaforth 22 Ocean Road, Manly $7,990,000 Contact agent $3,261,000 Contact agent 6 4 2 4 2 2 5 3 2 4 3 2
Recent leasing success When it comes to managing your property portfolio, nothing is more powerful than experience and great customer service. Elissa Carmichael 9948 2020 Lisa Ma 0401 422 554 If you want to learn more about our services, please reach out to one of our team on 9948 2020 The Benefits With over 28 years of local experience, you could not be in better hands. What’s the job we do for you as a landlord? We maximise rental return. We minimise vacancy by aligning lease end dates to peak tenant demand, and by using a thorough tenant selection process. We reduce risk by the likes of proactive maintenance and maximise asset value for future resale. We become your eyes and ears for ‘set-andforget’ property management.
For the latest listings please visit guildea.com.au 47A West Street, Balgowlah 30/6 Pacific Street, Manly 75 Upper Beach Street, Balgowlah 2/2D Battle Boulevard, Seaforth 4/32 Bonner Avenue, Manly 6/3 Fairlight Crescent, Fairlight $1,860 pw $1,050 pw $1,950 pw $1,395 pw $1,100 pw $700 pw 3 2 2 2 2 1 2 2 1 4 3 1 3 2 1 2 2 0
What our clients say Amazing auction result “Professional low key approach that over delivered with the results. I want to thank Jason, Natalie and the team at Guildea for their care and support during the sale of our family home. I would not hesitate in highly recommending Guildea to everyone wanting a top performing local real estate agent.” –––– ANDREW Fantastic "Jason and his team at Guildea were a fantastic help to us, great service, responses, and customer services throughout all phases of our property needs." –––– MARK Would recommend “We tried and failed to sell our property with a larger agent in the area without any offers. Jason and the team at Guildea understood the very unique nature of our property and managed to find a qualified buyer in a difficult market. I would have no hesitation in recommending Guildea Residential.” –––– PHIL & KATE Disclaimer: All information gathered here is from sources we deem as reliable, however we cannot guarantee its accuracy and all interested parties must make and rely on their own enquiries. Guildea 3/67 Wanganella Street Balgowlah NSW 2093 02 9948 2020 office@guildea.com.au Jason Guildea – Principal
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