Of course, we’ve always been a little biased in favour of our local suburbs across the Northern Beaches. But here are some interesting insights into why this region is such a great place to buy and sell property.
It comes down to infrastructure investments and suburb stats.
Northern Beaches real estate
Despite media reports about the Australian property market being volatile due to rising inflation and surging interest rates, Sydney’s Northern Beaches real estate has remained fairly resilient.
In fact, the Northern Beaches property market shows no signs of slowing down –property values continue to thrive alongside increasing local developments and infrastructure upgrades in the area.
These infrastructure projects are fuelling additional growth in the region, bringing in jobs and improving the quality of life that makes our little corner of Sydney more attractive for visitors and residents alike. So, whether you plan to sell or buy property, Sydney’s Northern Beaches offers a lot of exciting opportunities that promise you value now and in the future.
Let’s delve more into this.
Infrastructure upgrades in Sydney’s Northern Beaches
According to the latest CoreLogic data, the growth phase of the Australian property market has stabilised, with most cities and regions falling or remaining relatively flat in July 2022.
However, we’ve still seen a lot of growth across so many of our local Northern Beaches suburbs, such as Manly, Seaforth and Avalon.
This just shows that while the overall Australian property market may be plateauing, constant infrastructure investment and Sydney suburb development are driving capital growth and high rental yields in the Northern Beaches.
To highlight this, here are some infrastructure upgrades in Sydney’s Northern Beaches that can benefit buyers, sellers and property investors:
- Dee Why’s Town Centre
Dee Why saw an exceptional facelift when the Meriton Group developed the $300-million Lighthouse Precinct. Along with this, the Northern Beaches Council also developed the award-winning Dee Why Town Centre Masterplan which consists of the new Walter Gors Park and Redman Road Plaza upgrades.
These redevelopment projects add value not just to residents, but also to aspiring property investors within the suburb.
- Frenchs Forest’s Master Plan
Frenchs Forest is home to the new state-of-the-art Northern Beaches Hospital. With 488 beds, a 50-space emergency department and a helipad, the hospital represents a significant investment in state infrastructure valued at $1 billion.
Through the redevelopment project and investment into a new town centre, it is estimated that there will be at least 2,300 jobs set to be created over the next 20 years, making it a smart decision to either buy into this suburb or sell knowing the demand will be high.
- Mona Vale Road
Residents and future investors have a lot in store over the coming years as the NSW Government invests $140 million into the already-in-progress upgrade to Mona Vale Road.
This redevelopment project will improve safety and traffic efficiency within the suburb, which will inevitably snowball as it will allow greater access and more families to settle into Mona Vale – leading to more infrastructure projects and jobs in the future.
- Beaches Link Tunnel / Northern Beaches Tunnel
The construction of this proposed tunnel linking the Northern Beaches to the Warringah Freeway in North Sydney is scheduled to be completed by 2028. It will consist of 11kms of tunnel, as well as 5kms of surface road upgrades.
With two portals (entries/exits) in Balgowlah and Seaforth, this tunnel will pave the way for greater access to the Northern Beaches.
- Brookvale Master Plan
The Brookvale Strategic Centre will open the door to long-term employment growth through its mixed-use development that consists of offices, retail, services and housing.
Visitors and residents can also look forward to the centre’s improved walking and cycling connections and bus rapid transit corridors.
For more, read our article on Bustling Brookvale here.
- BRT System from Chatswood to Dee Why
This new rapid transit bus service from Chatswood to Dee Why has been developed to encourage fewer cars on the road and improve journey times for commuters, especially because it has a designated stop along the way at the Northern Beaches Hospital.
It also connects the North Shore and Northern Suburbs rail link via the Chatswood interchange to the hospital and the Northern Beaches, offering ease of travel and convenience.
- Westfield Warringah Mall
A $226-million proposal is underway for further redevelopment and extension of Westfield Warringah Mall.
This would include 418 new parking spaces, 35 extra food premises, an internal bus interchange and taxi rank, as well as an additional major department store that will cater to the growing needs of residents and visitors.
- Dee Why PCYC
This $26 million Police Citizens Youth Club (PCYC) offers new indoor sporting facilities, multiple use function rooms and massive car parking capacity, diversifying the social scene, encouraging more locals to get involved and appealing to more suburb visitors.
- Connecting Northern Beaches
This $22.3 million project will focus on integrating active walking paths and cycleways that link to B-Line transport services.
The plan involves developing 14km of new off-road shared paths and 36km of new cycleways and shared paths that improve the walkability of the Northern Beaches suburbs.
3 reasons to buy or sell properties in Sydney’s Northern Beaches
All of these recent infrastructure improvements across Sydney’s Northern Beaches are set to boost our local community. With the increased demands for homes, offices and other commercial spaces, property buyers and sellers can take advantage of the thriving region to maximise real estate investments.
Here’s why you have a good future ahead at Sydney’s Northern Beaches:
High population growth
The Northern Beaches population is expected to grow from 272,322 in 2022 to 312,503 in 2041. A whopping 12.85% in 19 years.
More people coming to the Northern Beaches means there will also be more competing buyers, increasing your property’s overall value in the long run.
High population growth also attracts more investments which will then enable you as a resident of the Northern Beaches to continuously enjoy a wide range of public amenities, infrastructure and job opportunities.
Vacancy Rates
In the last three months, we also recorded the following property management and leasing statistics, which are better in comparison to the market average:
An upward trend in sales growth
The Northern Beaches as a whole has outperformed Sydney in capital growth and rental returns over the last 10 years. At Upstate, we predict this won’t be stopping anytime soon.
With a spike in the number of buyers and an increase in the number of homes for sale, our expected sales market share by suburb is sitting at:
This means that you can trust our team of property specialists can help you sell your home as easily as possible and achieve the best result.
Upstate can help you be part of a better future on the Northern Beaches
Sydney’s Northern Beaches is clearly the place to be. So, let’s help you get the most out of it!
At Upstate, our team of real estate experts use reliable market research, extensive experience and expertise to determine the best course of action that will maximise your return. We’re skilled, agile, client-focused and tech-savvy – let’s just say we do things differently and it’s all for your benefit. Rest assured that you’re in very capable hands!
Find yourself in a better place
Our Upstate real estate specialists can make your property goals come true. That’s because we’re a big agency, with the heart and determination of a boutique one.
Speak to your local Upstate team today and we’ll show you the possibilities that earn excellent results. We look forward to chatting with you soon.
The Upstate team.
