Newport Property Market Update

Newport Market Update Kelly Mulvihill YOUR LOCAL AGENT

Suburb sales 276

Total sales in Newport over the last 12 months

13/6 Queens Parade

5/69 Beaconsfield Street

1/25 Bardo Road

2/1 Seaview Avenue

91 Wallumatta Road

16/40 Foamcrest Avenue

8/23 Woolcott Street

6/23 Ocean Avenue

10/12 Seaview Avenue

52 Wallumatta Road

10/8 Queens Parade

1/67 Foamcrest Avenue

Suburb statistics How Newport performed over the last 12 months

$10,000,000

$3,140,000

$1,400,000

Highest sale price

Median House price

Median Unit price

31

168

102

Average days on market - House

Number of House sales

Number of Unit sales

16

$1,150/week

$575/week

Average days on market - Unit

Average rental price - House

Average rental price - Unit

22.3%

30.8%

Capital growth - houses

Capital growth - units

Sources: REA and Core Logic. Please note that property sales data is routinely updated, so may change retrospectively.

Market wrap With the shift in employment patterns, Newport saw unprecedented growth over the last year. A large portion of new buyers came from the East with the desire for the Northern Beaches lifestyle. What’s not to love with spectacular views of Pittwater, a permanent holiday vibe and only 40 minutes to Sydney’s CBD. The start of 2022 saw 30% more stock hit the market within Newport, making it more competitive and a great time for homeowners to sell. Backed by low interest rates, greater choice for buyers resulted in a strong first quarter for the region.

We are currently seeing strong sale prices in the area and as forecasts suggest interest rates are likely to continue to rise throughout the year, now could be the best time to sell.

If you’ve thought about selling recently, now is a great time to make your move. With a team that knows Newport like the back of our hands, we are here to help you find yourself in a better place.

How Upstate performed in 2021

544

615

$10,125,000

Residential sales

Residential leased

Highest sale price Northern Beaches

108

123

118,000+

Commercial sales

Commercial leased

Prospective buyers on our database

Auction clearance rates MAY 2021 - MAY 2022 AVERAGE

78%

77%

77%

Auction clearance rate Upstate

Auction clearance rate Sydney

Auction clearance rate Northern Beaches

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Number 1 Northern Beaches single office, with the biggest team and database.

NUMBER OF TRANSACTIONS 2021 500

400

300

200

100

NOVAK

BELLE DEE WHY

CLARKE AND HUMEL

CUNNINGHAMS BALGOWLAH

UPSTATE

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Kelly Mulvihill Sales Consultant

0435 177 153 kelly.m@upstate.com.au

Kelly’s approach is to understand the real needs of people. He is a standout and dynamic performer in the area.

$10,000,000

60%

13

Highest sale price

Repeat clients and referrals

Years of experience

GREAT AGENT

REASSURING AND PERSISTENT

Kelly was fantastic, as a first home buyer I was very unsure of the whole process and, he was a great help along the way, with nothing ever too hard. Great communication and very accommodating. I would highly recommend him.

Kelly went above and beyond to get our sale over the line!! We couldn’t be happier with the end result. We would have no hesitations recommending Kelly for your next sale!

Vendor – Queens Parade, Newport

Purchaser – Gladstone Street, Newport

upstate.com.au Level 1, Suite 15, 888 Pittwater Road, Dee Why, NSW 2099

YearS YOUNG

1922-2022