Fresh wave of property buyers land on the northern beaches
A fresh wave of buyers has descended on the northern beaches this year, full of people who are splashing the cash.
It seems many families spent the summer holiday planning a move and agents up and down the peninsula are seeing buyers they haven’t met before who are focused and decisive.
These new buyers are purchasing apartments, old homes and family houses.
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The activity this month contrasts with November and December of last year which a couple of agents described as a market shutdown.
Vince Donovan, of Donovan Estate Agents Mosman, booked an auction in December for a three-bedroom Queenscliff apartment that failed to sell. The guide for the large modern unit in December was $2.15 million.
Mid January and the apartment at 22/28-32 Crown Rd, in the Seachange development, sold for $2.425 million to a fresh buyer who saw the property for the first time that month.
Candice Cattell, of Stone Real Estate, has had 6000 online views for her Manly listings this year already and sold a one-bedroom apartment for $900,000.
“Another unit in the same block and on the same level sold in December for $850,000,” she said.
“It is good for people to see that the market has bounced back. And I believe the market will see a spike after the long weekend,” she said.
The one-bedder at 823/22 Central Ave, Manly was bought by an investor.
In Manly Vale an original weatherboard cottage on 853sqm of land sold to a young couple within a week of the pair first seeing it.
Florence Labadens, of Cunninghams Property, launched 38 King St three weeks before Christmas but it didn’t sell.
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A new year and some fresh faces inspected the three-bedroom cottage with north to rear aspect and after two days the young couple signed the deal paying $1.575 million for the property.
Ms Labadens said the northern beaches property market virtually shut down for four weeks before Christmas but in January inspections are back up and new buyers are looking.
“We are seeing a new wave of buyers and a lot of them are coming from outside of the northern beaches,” she said.
“A lot of people are coming from Cremorne, Neutral Bay and Mosman and are particularly drawn by the B-Line buses that get them into the city,” she added.
The King St cottage is a five-minute walk to the B-Line bus service which runs non-stop from Manly Vale to the CBD.
A three-bedroom house in Newport that came to market in October last year has just sold to a fresh buyer from Collaroy.
Gordon Archibald, of Wiseberry Mona Vale, said once the new year had ticked over he had lots of interest from young families from all over Sydney.
The tri-level home at 44 Nullaburra Rd, Newport sold mid January for $1.245 million.
“We are seeing new interest,” he said.
“There is a new lot of people looking for property and I think the market has found its feet,” he said.
Mr Archibald predicts the first half of this year might be challenging with both a State election and a Federal election due. But he believes the second half of the year will be solid and stable.