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What’s happening in our local property market

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The property market has continued to perform strongly despite the Covid pandemic and lockdowns across capital cities. According
to CoreLogic, the Australian national home value index rose 6.1% for the June quarter. This is down from a recent peak of 7.0% in
the three months to May, but still excellent growth. The combined capital city home values finished the quarter 6.2% higher, and
combined regional housing values rose 6.0%.
Across the 2021 financial year, Australian dwelling values rose 13.5% – the highest annual growth rate since April 2004.
Across our area, there were 678 listings advertised in the past 12 months compared to the rolling 12-month listings of 705 reported
last quarter. Let’s look at the rest of the data for our local market.

Across our local market, we have seen 678 properties listed for
sale over the past 12 months, which is lower than the same time
last year. This has impacted sales, with 753 occurring over the
past 12 months. Looking at the housing market, the best performing
suburb over the past 12 months has been Ingleside which has seen
its median sales price grew by 47.7%. The median sales price of a
home in Ingleside is now $3,870,000. Warriewood saw its median
house sales price grow by 32.2%, with the median price now sitting
at $2,380,000, and North Narrabeen grew 32.0% across 77 individual
sales with a median of $2,400,000.
The most traded suburb for houses in our area has been Warriewood
with 82 homes sold over the past 12 months while Narrabeen had the
most unit sales with 184 transactions. House prices in Warriewood
have performed strongly with growth of 32.2% and now have a
median price of $2,380,000.

Over the past month, about $10.25m in units and $9,575,000 in
houses have been sold in Warriewood, with $154.88m and $222.07m
respectively sold over the past 12 months.
Collaroy has demonstrated the strongest price growth for units with
prices rising 29.6% over the past 12 months. The median sales price
for units in Collaroy is now $1,220,000 and with a median rent of
$625 a week, they offer a rental yield of 2.7%.
The highest median housing rents in our area are $1,350 per week in
Collaroy and for units $780 per week in Warriewood. Housing rental
yields in Warriewood are currently 2.5% which might be suitable for
investors.
The time it takes to sell a house in our region ranges from 23 days in
Elanora Heights to 55 days in Ingleside, and the shortest median time
to sell a unit is 20 days in Warriewood.

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This month it’s all about North Narrabeen

One of the most popular suburbs in our region is North
Narrabeen, where 72 houses were listed for sale over the past
year. Houses in North Narrabeen have an average land size of
701 square metres.

● The suburb is tightly held, with residents typically holding their
house for 12.8 years.
● The median value of houses in North Narrabeen is $2,282,367.
This is lower than the median sales price, which is currently
$2,400,000.
● Over the past 12 months, buyer interest has eased with 77
houses sold this year compared to 86 sales last year.
● Houses are typically sold within 31 days.
● 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 2.5% yield, while units in
Warriewood is returning a 2.8% yield.
The median price of a house in Warriewood currently is $2,380,000
and average rents are $1,300 per week, whereas median unit prices are
$1,300,000 in Warriewood with rents of $780 per week.
Unit prices in Warriewood have jumped by 27.5% over the past year,
meaning investors who bought a year ago have seen good gains and
good rental returns.

Collaroy is the second best yielding unit suburb in our area with units that
cost around the median price of $1,220,000, returning 2.7% with the median
asking rents of $625 per week, while Narrabeen also is worth watching
with returns of 2.7% based on a median price of $1,300,000 and rents of
$650 per week.
For those interested in investing in houses, also consider North
Narrabeen where prices have moved strongly by 32.0% while yields
are 2.4% – although this would most likely require a negative gearing
investment strategy

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