Winter 2022 Property Report Lower Northern Beaches
Winter is coming to an end and we are officially past the halfway point of the year. This year has delivered spectacular sales across the Northern Beaches, including some particularly luxurious properties throughout Manly, Clontarf and Seaforth. The standout sale for us this quarter was 75 Beatrice Street in Balgowlah Heights, which sold off-market in just one day. The market continues to change in response to external pressures. In the face of inflation, the Reserve Bank of Australia’s raising of interest rates has reduced borrowing capacity and triggered a drop in consumer confidence. This is resulting in creating a two-tier property market throughout Sydney. Even so, the upper end of the market remains strong as an ongoing shortage of prestige and turnkey properties generates high demand and even higher prices. This trend looks to continue for the rest of the year. For sellers looking to downsize, now is the perfect time to take advantage of this shortage and secure your future with a record sale. We have begun to see the effect of rising interest rates on B and C-grade properties, along with investment properties, with prices dipping by 5-10% across the board. Even with this dip, the market for these properties should stabilise over the coming months as consumers respond to changing economic conditions both within Australia and around the world. After several months of open borders, rental prices continue to rise as international arrivals return to Australia, both for short-term stay and permanent moves. With the rise in rental prices, now is a great time to buy for anyone looking to get their foot on the property ladder or secure a promising investment. As we move into the second half of a year that has already been filled with much change and uncertainty, it is crucial that you secure your future with the best possible property team. Whether you are buying, selling or leasing, our team at Guildea can help you make the most of the months to come. With knowledge, experience, and a proven ability to deliver outstanding results, get in touch today to find out what we can do to make your property dreams come true. Life’s Better On The Beaches Jason Guildea – Principal Many purchasers we are speaking with are unsure about themarket. The good news is that you won’t be paying 2021 prices. If you see a home that suits you and is good value, now is an excellent time to be buying. Welcome to Guildea Residential
Market OverviewApril - June 2022 for postcodes 2092, 2093, 2094, 2095 % of properties sold Balgowlah Balgowlah Heights Clontarf Fairlight North Balgowlah Seaforth Manly Median House Prices 12 month growth % The Key Numbers Properties sold in the last quarter 214 39% Houses 61% Units $3,350,000 $4,740,000 $4,650,000 $3,730,000 $4,550,000 $3,450,000 $4,815,000 Seaforth Manly Balgowlah Balgowlah Heights Clontarf Fairlight North Balgowlah 6.4% 5% 1.8% 44% 8.8% 20.8% 8.5% Source: Switch Property Intelligence on exchanged/ settled sales, information is for general use, please rely on your own enquiries.
Our recent sales achievements 164 Killarney Drive, Killarney Heights 1/103 Bower Street, Manly 75 Beatrice Street, Balgowlah Heights 606 Sydney Road, Seaforth $3,250,000 $7,400,000 Confidential $3,960,000 5 4 3 4 2 3 3 3 2 5 3 3
1Western Avenue, Manly 13 Fromelles Avenue, Seaforth 13 Palmerston Place, Seaforth 22 Ernest Street, Balgowlah Heights $2,575,000 $3,350,000 $3,740,000 $3,000,000 3 2 1 4 2 2 4 1 2 4 2 2
Recent leasing success When it comes to managing your property portfolio, nothing is more powerful than experience and great customer service. Elissa Carmichael 0423 880 016 If you want to learn about how we maximize your investment return, please reach out to one of our team at Guildea Residential 9948 2020 The Benefits With over 26 years of local experience, you could not be in better hands. Be it for a one bedroomapartment inManly, through to executive luxury homes in Seaforth and Clontarf, we have qualified tenants ready to go. We are still seeing a strong rental market. The Sydney wide vacancy rate is reported at 1.5% for May this year. This is the lowest level in six years! The biggest shortage continues to be for houses. Rents are rising by 5% to 15% on all properties. 11/374-378 Sydney Road $600 pw 1 1 1
For the latest listings please visit guildea.com.au 22Magarra Place, Seaforth 16/32 Bonner Ave, Manly 10 Harbour View Street, Clontarf 14/786Military Rd, Mosman 19 Roosevelt Avenue, Allambie Heights 7/3 Fairlight Crescent, Fairlight $2,500 pw $1,350 pw $1,200 pw $495 pw $1,550 pw $550 pw 4 3 3 3 2 2 4 2 2
What our clients say The Guildea team has provided excellent residential management services to us for the past seven years. Their professional and serviced focussed approach has ensured the property has been well rented and maintained. The project management of contractors to refresh the property was managed efficiently and cost effectively. I have no hesitation in recommending this great team. –––– HAMISH Jason’s respectful and calm demeanour made the process of selling during lockdown as easy as possible. His communication style was timely and professional, and it’s this comfortable ease that he conveys that results in an unreserved recommendation. –––– RICHARD Guildea Residential has been managing my property for over 20 years and has done a superb job in ensuring quality of tenants and minimizing any gaps between tenancies. So when it came to selling my property in Seaforth, I thought of no one better qualified than Jason. He is warm, honest, trustworthy, understood my needs fully and worked extremely fast throughout the sales process. I highly recommend Jason’s service to anyone considering selling or renting their property. –––– PAUL Thank you so much for all your efforts over the past five years managing our property and helping us stay on top of things while we were overseas. We are very excited to be finally moving in! –––– SUZY, DAVID & JOSHUA Disclaimer: All information gathered here is from information that 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
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