Commercial Market Wrap
Market Wrap
The commercial property market continues to show impressive resilience, with transactions not only holding steady but actively accelerating.
Our team has experienced a particularly strong start in the first quarter of 2026, with enquiry levels and transaction volumes reflecting sustained confidence across both sales and leasing activity.
A key driver of this performance is our hands-on approach. With six active agents consistently engaging the market, we are proactively seeking out buyers and tenants rather than waiting for opportunities to arise. This strategy is delivering results, with 31% of our enquiry sourced directly through agent canvassing, compared to 17% from Real Commercial and 14% from Commercial Real Estate. These figures highlight the importance of the choosing the right agency, targeted outreach and strong industry relationships in generating quality leads.
Market behaviour continues to reinforce a familiar trend: well-positioned, highquality stock is performing strongly. Demand remains robust, and properties that are priced and presented correctly are attracting consistent interest. This has translated into strong enquiry levels across
both sales and leasing, demonstrating that the appetite for commercial assets is far from slowing down.
At Upstate Commercial, this has been the strongest Q1 start to any year in the last 5 years. This is a clear indicator of renewed confidence and momentum within the market.
The numbers speak for themselves and reflect a positive outlook moving forward.
What’s Your Property Worth?
Would you like to know the current value of your property and how the market is performing in your area? Contact us today for a confidential market appraisal.
Recent Sales
2-4 Albert Street, Narrabeen
$29,100,000
1-5 Rickard Road, North Narrabeen
$10,500,000
68-72 Wood Street, Manly
$18,550,000
13-15 Ethel Avenue, Brookvale
$5,150,000
Recent Leases
46 Winbourne Road, Brookvale
$176,556 + GST Gross
1/1228 Pittwater Road, Narrabeen
$83,200 + GST Gross
312-314/20 Dale Street, Brookvale
$125,400 + GST Gross
Commercial Statistics
Q1 2026
17 Sales 25 Leases
32 Lease Renewals
$76,985,750 $176, 550 $1,601, 268 2, 295 291 $29,100,000 Highest Sale Price
Total Sales Value
Highest Lease Price
Total Lease Value
Total Enquiries
Total inspections conducted (that’s over 20 inspections per week!)
Market Outlook
These results underscore a healthy and active pipeline, with a balanced mix of transactions contributing to overall performance. Currently the team have strong momentum with 38 sale & lease offers currently in progress. The strong number of Lease Renewals, in particular, highlight strong tenant retention in our current managements and continued demand for existing spaces, further reinforcing market stability.
While there is some turmoil in the world, the Northern Beaches appears to be bucking the trend for now. As we move further into the year, based on Q1 the outlook remains positive. With strong enquiry, active agents, and quality stock driving outcomes, we suggest bringing forward any transactions you were considering for later in the year as you never know when the market can turn. We will continue, supporting both investors and occupiers alike in an evolving commercial landscape.