Upstate’s 2024 Northern Beaches Property Market Wrap & The Summer-Ready 2025 Advantage
2024 has been a transformative year for the Northern Beaches property market and for Upstate. Despite ongoing challenges such as rising interest rates, increased living costs, and cautious buyer sentiment, we’ve achieved sustained growth and notable results.
As we close out the year, this is an opportune moment to reflect on the past 12 months, share market insights, and help you plan for a standout start to 2025. Selling early in the year offers a strategic advantage, especially with our Summer Showcase Campaign ensuring your property captures maximum buyer interest.
Here’s a comprehensive look at the market performance, Upstate’s achievements, and why listing now positions you for success this summer.
Northern Beaches Market Performance: Key Takeaways from 2024
Despite economic pressures such as rising interest rates and cost-of-living challenges, the market demonstrated resilience. Let’s take a closer look at the numbers:
Residential Sales Trends
- Average House Sale Price: Gained 1.9%, reflecting steady, consistent interest in apartments.
- Average Unit Sale Price: Increased by 27.8%, driven by sustained demand for units.
- In the first quarter of 2024, the Northern Beaches property market demonstrated resilience. Additionally, total sales volumes grew, indicating strong market confidence and sustained demand.
Development Applications (DAs)
- The total number of dwellings approved increased by 4.2%, reaching 15,498.
Rental Market Resilience
- House Rental Prices: Increased 6.2% in the last 12 months, reaching $1,602 per week on average
- Unit Rental Prices: Climbed by 2.4% to $855 per week
- Vacancy Rates: Vacancy rate currently 0.8% and was the same this time last year
- Rental Yields: Yields have stayed steady throughout the year. Unit yields 3.6% and houses 2.9%
Click here for our full Rental Market update
Commercial Market
- Upstate Commercial has been instrumental in securing standout deals including Wingmill Dee Why, Lovat Avalon, Fat Pomelo Narrabeen, Nikkita Manly and Alice Dumplings Manly.
Click here for our full Commercial Market update
*Disclaimer: The information provided is sourced from realestate.com and is intended for general informational purposes only.
Upstate’s 2024 Highlights: Outstanding Achievements
Sales Success
- Over 329 properties sold, with an average sale price of $1,833,095 on Residential Properties. From last year’s $1,678,250 – that’s a 9% increase on 2023!
- Standout sales included:
- 54 Monash Parade, Dee Why: Sold for $6,500,000.
- 9a Seaforth Crescent, Seaforth: Contact Agent for Price.
Leasing Milestones
- Upstate leased 686 properties, navigating a highly competitive rental market and delivering strong results for both landlords and tenants.
Exciting Developments
Our portfolio included a mix of luxury and boutique projects:
- Casa Delmar, Dee Why: 218 stunning apartments exemplifying coastal elegance.
- Bathers, Collaroy: A limited release of 34 premium apartments.
Looking ahead, Quartet Bayview, Coda, Manly Vale, and new boutique projects in Dee Why promise to set benchmarks for luxury living in 2025.
Why Summer 2024 is Your Moment to Shine
The start of the year offers unique market conditions that can work in your favour as a seller:
1. Online Enquiry Peaks
RealEstate.com.au data shows a surge in buyer activity from December to January
2. New Year, New Goals
The holiday season inspires people to reassess their lifestyle and plan for the Future.
3. Less Competition
With fewer listings, your property will stand out, Attracting serious buyers ready to act fast.
Summer Showcase Campaign
To help vendors seize this unique market window, we’ve launched our Summer showcase Campaign. This initiative is tailored to maximise visibility and deliver exceptional results.
- A tailored strategy to position your home prominently in a quieter market.
- Access to top-tier auctioneers and marketing tools to drive competition among buyers.
- Dedicated support from Upstate’s experienced team, ensuring your sale is seamless and rewarding.
Looking Ahead to 2025 with Upstate Projects
Right now, one of our feature projects here at Upstate is Bathers in Collaroy. A boutique collection of 34 residences, only 10 remain available.
Luxury of a standard never before seen in Collaroy. Designed by Coco Republic and built by LORDS’ group, showcasing its minimalistic coastal resort inspired architecture to the stunning interiors and layouts.
We also have several other projects available at this time, including:
- Bathers, Collaroy | 10 residences remain
Real Estate For Sale – 4 Collaroy Street – Collaroy , NSW - The Belrose Collection | 24 residences remain
Real Estate For Sale – 28 Lockwood Avenue – Belrose , NSW - Casa Delmar | 75 residences remain
Real Estate For Sale – 4 Delmar Parade – Dee Why , NSW - Dommar, Dee Why | 15 residences remain
Real Estate For Sale – 155 Pacific Parade – Dee Why , NSW - Dove Lane | 4 residences remain
Real Estate For Sale – 9-11 Fern Creek Road – Warriewood , NSW - Hamptons | 10 residences remain
Real Estate For Sale – 15 Fisher Road – Dee Why , NSW - Omaroo, Pittwater | 5 residences remain
Real Estate For Sale – 2129 Pittwater Road – Church Point , NSW - Forest Lodge, Warriewood
Real Estate For Sale – Apartments Forest Road – Warriewood , NSW
We also have several projects available in Canberra and up on the Gold Coast.
Check out the Upstate Projects page to see our complete list of available projects right now.
Upcoming Upstate Projects in 2025.
Here’s a sneak peek at what’s to come.
Keep an eye out for these exciting new projects coming to market with Upstate in 2025:
- Quartet Bayview – 4 Apartments
- Coda, Manly Vale – 9 Apartments
Let’s Find You a Better Place This Summer
Selling with Upstate means access to the region’s largest network of buyers, proven strategies, and a team that treats your property as a priority. The new year is the perfect time to step forward with confidence.
Ready to kickstart your journey? Contact the Upstate team today, and let’s make 2024 your year for extraordinary results.
From all of us at Upstate, have a wonderful holiday season. We can’t wait to work with you in the new year.
