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2022-11-18_09-55-45
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2022-09-19_10-46-54
2022-09-19_10-48-14

What’s happening in our local property market

1

Across our local market, we have seen 612 properties listed for
sale, over the past 12 months, which is lower than the same time
last year. This has impacted sales with 645 taking place over the
past 12 months. Looking at the house market, the best performing
suburb, over the past 12 months, has been Collaroy which has seen
its median sales price grow by 22.4%. The median sales price of a
home in Collaroy is now $3,550,000. Elanora Heights saw its median
house sales price grow by 12.7% with the median price now sitting at
$2,620,000 and Warriewood grew 12.6% across 71 individual sales
with a median of $2,365,000.
The most traded suburb for houses in our area has been North
Narrabeen with 73 homes sold over the past 12 months while
Narrabeen had the most unit sales with 165 transactions. House
prices in North Narrabeen have performed strongly with growth of
10.7% and now have a median price of $2,310,000.

Over the past month, about $2,125,000 in units and $12.76m in
houses has been sold in North Narrabeen with $7,845,000 and
$169.9m respectively sold over the past 12 months.
Collaroy has demonstrated the strongest price growth for units with
prices rising 21.6% over the past 12 months. The median sales price
for units in Collaroy is now $1,195,000 and with a median rent of
$628 a week, they offer a rental yield of 2.8%.
The highest median housing rents in our area are $1,350 per week
in Warriewood and for units $780 per week in Warriewood. Housing
rental yields in Warriewood are currently 2.6% which might be
suitable for investors.
The time it takes to sell a house in our region ranges from 29 days in
Narrabeen to 41 days in North Narrabeen, and the shortest median
time to sell a unit is 25 days in Narrabeen.

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2022-09-19_10-49-19

This month it’s all about North Narrabeen

● One of the most popular suburbs in our region is North
Narrabeen where 70 houses were listed for sale over the past
year. Houses in North Narrabeen have an average land size of
687 square metres.

● The suburb is tightly held with residents typically holding their
house for 12.7 years.
● The median value of houses in North Narrabeen is $1,935,916.
This is lower than the median sales price which is currently
$2,310,000.
● Over the past 12 months, buyer interest has eased with 73
houses sold this year compared to 86 sales last year.
● Houses are typically selling within 41 days.
● Sales prices have grown by 10.7% over the past 12 months and
vendors are typically discounting by -9.3% to secure a sale.
● All of this means it is now a good time to buy in North
Narrabeen.

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Our local area expertise – Investing

For housing investors, the best buying in our area can be found in
Warriewood where houses are returning a 2.6% yield, while units in
Collaroy are returning a 2.8% yield.
The median price of a house in Warriewood currently is $2,365,000
and average rents are $1,350 per week whereas median unit prices are
$1,195,000 in Collaroy with rents of $628 per week.
Unit prices in Collaroy have jumped by 21.6% over the past year, meaning
investors who bought a year ago have seen good gains and good rental
returns.

Narrabeen is the second best yielding unit suburb in our area with units
that cost around the median price of $1,307,500 returning 2.8% with
median asking rents of $650 per week, while Warriewood also is worth
watching with returns of 2.8% based on a median price of $1,287,500
and rents of $780 per week.
For those interested in investing in houses, also consider Elanora Heights
where prices have moved strongly by 12.7% while yields are 2.4% –
although this would most likely require a negative gearing investment
strategy

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2022-07-18_9-50-58