Upstate Rental Market Update

Northern Beaches Rental Market Update

Northern Beaches 7,677

Total properties leased on the Northern Beaches over the last 12 months.

5/19a Frazer Street, Collaroy

306/44 Ocean Street, Narrabeen

5/163-165 Pacific Parade, Dee Why

129 Lagoon Street, Narrabeen

50a Wimbledon Avenue, North Narrabeen

23/1114 Pittwater Road, Collaroy

1c/1-7 George Street, Manly

37 Warriewood Road, Warriewood

3/109 Ocean Street, Narrabeen

703/890 Pittwater Road, Dee Why

40 Park Avenue, Avalon Beach

20 Cousins Road, Beacon Hill

Rental Statistics How the Northern Beaches rental property market performed over the last 12 months.

$6,000 p/w Highest leased price

1,920

30

$1,371 p/w

Number of leases - House

Average days on market - House

Rental price average - House

5,757

8

$652 p/w

Number of leases - Unit

Average days on market - Unit

Rental price average - Unit

1.7%

$156,000

45 - 49

Vacancy rate

Average household income

Largest population age range

*Data sourced from properties marketed on realestate.com.au

Market Wrap Due to an increase in demand and lack of supply, Northern Beaches rental prices have increased 16% for houses and 4% for units over the past 12 months. The current average asking price for a house on the Northern Beaches is $1,371 and $652 for units, respectively. The high-end rental market has exceeded expectations in the last year with renters willing to pay more for additional space that caters to hybrid working.

In 2022, we have seen a seasonal shift return after two years.

Enquiry during winter has seen a slight decline along with open home attendees. Vacancy rates across the Northern Beaches is currently at 2% although we expect to see an increase in demand as we head into the autumn and summer months.

Rental yields June 2021 was 2.9% and has increased to: 3.5% July 2022 - Units Rental yields June 2021 was 2.6% and has increased to: 3% July 2022 – Houses My predictions for 2023 will be a strong rental market as we see interest rates continue to rise. The Northern Beaches is a desirable location in any market and continues to be a solid investment for landlords.

With a dedicated leasing and property management team by your side, Upstate are here to help look after landlords and minimise hassles whilst maximising their returns.

Get in touch today and find yourself in a better place. Call 02 9971 9000.

Upstate Stats ( last 12 months )

671

27,500

9

Properties leased

Current tenant database

Average days on market

4.32%

0.8%

$800

Market share

Vacancy rate

Average weekly rent

Digital Leasing Appraisals Become an expert in seconds. Simply enter your property address or a potential investment property for your detailed rental report. Staying informed on the current rental value of your property and comparable properties is key to determining the right price for your property. From suburb performance, rental yield, changes to rental rates, suburb statistics and more – you’ll have everything you need to stay ahead of the game on market conditions to make an informed choice for your next move.

Landlord and Tenant App Whether you are a tenant or landlord, Our Property apps allow you to access your property documents and lodge maintenance requests quickly and easily. Stay on track with your investment property, rent paid, bills paid, lease renewals, inspections reports, and compliance renews.

Live updates through SMS, push notifications and emails will ensure you are always kept informed on job progress.

John Hall (last 12 months) Total # of new landlords to the business: 300+ Highest lease price: $2,900

Testimonials “John Hall assisted me in purchasing and renting a property at Narrabeen.

I was more than impressed with his professionalism. John is a friendly and mature person who showed me great respect during this time.”

“John made the process of renting my property very easy and painless.

He is very thorough and professional, always willing to hear my input. I would highly recommend him to anyone who is looking to rent their property.”

Get in touch with John on 0403 346 089 • john.h@upstate.com.au

Meet the Team

Most importantly, we love what we do. And what we do best is prospect for the perfect tenants, then convert to a lease more than any other agent in the area.

Level 1, Suite 15 888 Pittwater Road Dee Why, NSW 2099 02 9971 9000

hello@upstate.com.au

upstate.com.au