Many Australians are now moving to Northern Beaches. After all, its laid-back and serene scenery is a far cry from city living. A 2019 Population Projection made by the Northern Beaches Council has shown that the population of Northern Beaches will increase by 31,200 between 2016 and 2041.
The expected growth in the suburbs has also increased real estate in Northern Beaches demand. As a result, many people are clamouring to get a hold of properties in the suburb, either for their family or just for investment.
The area used to be known as Harbord. It boasts a good balance between being close enough to the city while still being accessible. Some of the world’s famous beaches that offer a wide range of amenities can also be found here.
Like any real estate property, those with an ocean view are the most popular. For example, Freshwater properties are just a short walk to Freshwater and Curl Curl beaches. People can enjoy a quick swim or surf here. However, these properties can get pricier than the others.
Prudent investors often choose to renovate 1970s units. It is affordable and can command a reasonable price once work is done.
Manly boasts of premium views of the Sydney Harbour on the west and the Pacific Ocean on the east. The suburb has an outdoor-loving community. Its residents love to hike, bike, surf, swim, and participate in other outdoor activities.
There are also elegant modern houses that you can find in Manly. The area still has standing houses built in the late 1800s. These houses have art deco and federation architecture styles.
This suburb is known for its smashing surfing holes. The houses in this area are usually large and prestigious. Most properties have excellent beach views. However, there are still some humble houses that are up for grabs. These houses need to be carefully selected, and it requires a lot of TLC to transform them into gems.
This area has seen a 30% growth in the last 12 months. The median unit price of any property in this area is a little under $600,000. However, the cost of apartments in this area is outweighed by its benefits. Rental rates in this area are $560 per week, and there is a strong return of almost 5%.
People like Brookvale because of its proximity to Sydney CBD. It is also considered a major industrial hub.
Narrabeen has one of the more expensive weekly rents at $1,050. However, it gives real estate investors a 2.37% return. Based on the real estate sales, the compound growth rate is at 3.6% for houses and 3.7% for apartment units.
Contact your favourite real estate agent if you are interested in owning real estate in Northern Beaches. Investing in Northern Beaches is a no-brainer. People are trooping to the area, so investors are sure to gain back their investment in no time. The area’s real estate market is also growing, so there is no better time to invest than now.
Alison Lurie is a farmer of words in the field of creativity. She is an experienced independent content writer with a demonstrated history of working in the writing and editing industry. She is a multi-niche content chef who loves cooking new things.