Domain Residential Peninsula Market Review 2022/2023

Peninsula Market Review

2022

The year in review

After recording a 27.7% rise in housing values between October 2020 and January 2022, Sydney home values are down -11.4% since peaking and the Peninsula was not immune to this change. The following pages contain some interesting suburb statistics for our core market area.

The tail end of COVID’s social effects, widespread floods, the Ukraine War, a Federal election were all contributing factors - but with out a doubt the single most important factor was the Reserve Banks sudden increases in interest rates.

Late 2022 has seen some green shoots - buyer activity at open homes has improved, sales are being made - and there is a strong underlying sentiment that we may be at or near the bottom of price  corrections locally.

So what does 2023 hold for residential property?

The big 4 banks are now predicting the possibility of one more rate rise early in the year - then a ‘steady as she goes’ approach before rates possibly going down as early as late 2023.

What’s in store 2023

The long-term fundamentals remain strong. Population growth is assured with a doubling of Sydney population by mid-century (overseas migration is already ramping up); unemployment remains historically low at around 3.4%, and there are recent numbers suggesting that inflation is beginning to flatten out and decline.

There is a feeling that there is a window of opportunity to get into the property market before the overall market picks up again. Rather than trying to pick where we are at in ’the cycle’, if your income is secure and the time is right for you, take a longer term view. This may be an ideal time to get a foothold in the Northern Beaches property market while others are sitting on the sidelines. DISCLAIMER: All information contained in this report has either been provided to us by a third-party, or otherwise and we have no reason to doubt it’s accuracy but do not take any responsibility for it. All interested parties should rely upon their own inquiries as to whether or not this information is accurate.

Newport Showcase Sales

2/10 Kalinya Street, Newport $1,800,000

61 Herbert Avenue, Newport $3,725,000

40 Cheryl Crescent, Newport $2,410,000

6/14 Queens Parade, Newport $1,220,000

75 Prince Alfred Parade, Newport $6,100,000

110 Prince Alfred Parade, Newport $7,500,000

Mona Vale

HIGHEST SALE

2/24-26 Golf Avenue, Mona Vale $4,500,000

23 Waterview Street, Mona Vale $2,425,000

10 Crescent Road, Mona Vale $1,755,000

2/72 Park Street, Mona Vale $2,400,000

7/151 Darley Street, Mona Vale $2,090,000

23a Heath Street, Mona Vale $2,550,000

Domain Projects New projects & developments

If you’re looking to downsize into a luxury apartment on the Northern Beaches then Domain Projects has delivered over 120 developments over the last 30 years and no other company has a more trusted and reliable name. Dealing with only the best developers, architects, interior teams and builders, our track record represents the best of the best apartments and townhomes across the beaches.

Its an exciting time for those looking to downsize as we have what we would consider one of the best collection of projects across the beaches that we have ever offered, with projects from Palm Beach to Collaroy, valued at more than $500,000,000 in planning or under construction.

In simply one face to face meeting with one of our experienced full time project professionals, we can

showcase all the options available in terms of new projects over the next 4 years in one simple meeting. This will save you invaluable time and more importantly ensure you get the right home as most of our projects tend to sell to our extensive client base. Selling projects off the plan is an extremely specialised task and our team is the most qualified on the beaches having over 100 years combined experience and 200 major projects between them.

We would urge you to meet with us face to face at our office or one of our display suites and let us talk you through the values, availability and structures that will take the stress out of downsizing and selling the family home.

Current projects on our beaches

A boutique complex of 12 apartments on

Ultra luxury 3 Bed apartments with lift access.

1 + 2 + 3 Bed apartments in the heart of the village.

A stunning combination of beachside apartments + townhomes.

Project Sales

If you would like to find out more about any of our current or upcoming projects, contact one of our team below.

BAYSIDE - MONA VALE

Pittwaters foreshore.

OCEANS - NEWPORT

MAYA - MONA VALE

NORFOLK - AVALON BEACH

HIGHEST SALE

Warriewood Showcase Sales

9 Harris Street, Warriewood $2,400,000

168 Warriewood Road, Warriewood $2,190,000

172 Warriewood Road, Warriewood $2,000,000

34 Shearwater Drive, Warriewood $2,270,000

34 Dove Lane, Warriewood $2,600,000

233 Macpherson Street, Warriewood $1,900,000

Bayview / Church Point

Bayview / Church Point Showcase Sales

37 Minkara Road, Bayview $5,750,000

25 Sunnyridge Place, Bayview $5,150,000

12 Barkala Road, Bayview $3,900,000

3 Pamela Crescent, Bayview $2,550,000

22 Corniche Road, Church Point $2,170,000

12 Quarter Sessions Road, Church Point $3,625,000

Domain Residential Property & Asset Management

An increase in demand and a lack of supply saw rents increase across the beaches in 2022 - just on 16% for houses and 4% for apartments. The high-end / luxury segments were particularly strong and with extremely low vacancy rates. With share market uncertainty and a readjustment in sales prices - investors have returned to the property market.

We forecast continued strength in 2023 - the Northern Beaches is an extremely coveted lifestyle locationmaximising your investment returns will be an objective Domain look forward to assisting you with.

Driven by an award-winning team of experienced professionals, we are committed to providing you with outstanding customer service to help you achieve your goals.

We believe the process of renting your property should be as comfortable, smooth and successful as possible.

We utilise the very latest in technology to ensure our landlords and tenants have access to the best services available for a smooth tenancy as well as peace of mind.

Fiona Carfrae PORTFOLIO & INVESTMENTS 0481

Natalie Parsons SENIOR PROPERTY MANAGER 0412 591 219

Domain Residential Statistics for 2022

93 Narrabeen Park Parade $2,450 per week

Domain Showcase Rentals

2/25-31 Darley St, Mona Vale $1,650 per week

50 Minkara Road, Bayview $1,800 per week

Narrabeen / North Narrabeen

POSTCODE

HIGHEST SALE

Narrabeen / North Narrabeen Showcase Sales

23 Oak Street, North Narrabeen $1,850,000

10 Tourmaline Street, Narrabeen $3,440,000

2/208-210 Ocean Street, Narrabeen $2,320,000

6/179 Ocean Street, Narrabeen $2,275,000

4/26 Malcom Street, Narrabeen $875,000

17 Irrawong Road, North Narrabeen $1,695,000

Elanora Heights / Ingleside

HIGHEST SALE

Elanora Heights / Ingleside Showcase Sales

71 Ingleside Road, Ingleside $3,200,000

46 Waratah Road, Ingleside $3,395,000

10 Cicada Glen Road, Ingleside $7,150,000

76a Elanora Road, Elanora Heights $2,450,000

22 St Andrews Gate, Elanora Heights $3,000,000

26 Weeroona Avenue, Elanora Heights $1,930,000

Nik Vuko DIRECTOR / RESIDENTIAL SALES

0416 029 417

Matt Hardy DIRECTOR / RESIDENTIAL SALES

0421 998 998

Meet our team

A DIFFERENT APPROACH TO REAL ESTATE

We don’t see ourselves simply as real estate agents. After all, guiding you through the process of buying or selling a home isn’t just a transaction, it’s a responsibility – one we’re honoured to share with you.

We want to help you transform your life and take away the fear involved in buying and selling real estate. And our promise is to find you the home that lets you live the ultimate Northern Beaches lifestyle for your budget, regardless of how big or how small that might be.

We try to bring the best of what the Northern Beaches is about to everything we do. So, even though we’re committed to our business and to your success, we always keep our cool. We believe in being direct, transparent and honest, not full of sales speak or bravado.

Peter Grant DIRECTOR / PROJECT SALES 0412

527 071

Jack Elsegood DIRECTOR / RESIDENTIAL SALES 0425 333 864

We don’t stand on ceremony or formality, so you’re more likely to find us in jeans and t-shirts than in a suit and tie. You’re likely to bump into us cheering the kids on at the weekend sport, hitting the surf, enjoying our local eateries and enjoying all that the Northern Beaches lifestyle has to offer.

Feel free to contact us for obligation free Real Estate advice.

638 698

229 224

888 363

331 766

Fiona Gage RESIDENTIAL SALES 0416

Claudia Norkett MARKETING

Charles Baynie AUCTIONEER

Belinda Hardy RESIDENTIAL SALES 0422

Simon Gourlay RESIDENTIAL SALES 0418

David Poppleton PROJECT SALES 0404

Julianne Grant PROJECT SALES 0421 081 623

Karen Vuko EXECUTIVE ASSISTANT 0404 052 241

Kick start your 2023...

CURRENT SPECIAL PACKAGES

To help get your year off to a great start, Domain Residential are offering the following great packages from now until the 30th of March.

Selling your home?

List your property from now until March 30th with Domain Residential and receive free photography, signboard and brochures.

Leasing your property?

To take the stress out of owning your investment property, list your property with our great team prior to March 30th and receive 12 months free landlord insurance from Terri Scheer, Australia’s #1 landlord insurance provider.

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