Before everyone signs off for the year and says goodbye to 2020, we wanted to take a look back at the year that was. 2020 has shown us how strong and supportive we are as a community, here on the Northern Beaches. It’s one of the reasons why our lifestyle has attracted buyers from all over Sydney, with more people wanting to live here, than leave here. As a result, our local property market has remained resilient throughout the year, bringing joy to those who have moved along their property journey.
So without further ado, take a listen to John Cunningham’s 2020 Market Wrap.
Read the transcript below or click to watch the video!
– Hi, I’m John Cunningham from Cunninghams. This year, we thought we’d bring you a slightly different version of our annual market wrap.
Over the next few days, you’ll be hearing from Georgi Bates, who will be discussing how the Northern Beaches market has remained so resilient in 2020, Michelle Galletti, who will be discussing the supply and demand levels in the Beaches, will highlight a couple of key suburbs that really stood out in 2020, and Matt Nicastri, who’ll be bringing you a quick update of what could be on the horizon for the local property market in 2021.
So what’s been happening this year?
It’s been business as usual for most of 2020. We thought it would be business as unusual in around May this year. But our hearts go out to everyone from our community and across Australia who’ve been impacted by COVID-19.
Amongst the chaos of the pandemic and the economic uncertainty, there was still a lot of joy to be found in the Northern Beaches property market.
This year, we’ve sold over 426 properties to date, we’ll probably hit over 430 by the end of the year, and leased 590. So again, that will probably be over 600 properties by the end of 2020. Now, that’s a lot of people we’ve had the pleasure of helping move along their property journey over the last 12 months.
There are a lot of factors to consider when looking back on the property market in 2020 but I believe there are three key takeaways that sum up the year that was.
Firstly, the market resilience on the Northern Beaches has been extraordinary.
Everyone had belief, everyone felt confident that everything would be okay if we just kept going, if we kept that confidence going and got through to the end, and that’s exactly what’s happened.
Number two, desirability of the lifestyle of our beautiful environment has been embraced not only by the locals but everyone else around us.
People are wanting to move here in droves. Eastern Suburbs, Upper North Shore, has been added to the list and we’ve got a big flow-on happening from the Hills District to add to that common area of Lower North Shore and the Inner West.
And number three, the future prospects.
Now, the stability of our marketplace, the stability of our economic environment, and the stability of our political environment has really stood out across the world in 2020. We also add to that that we’ve got a very safe place to live and the security of the future, I think, is very much assured.
When you consider that more people want to live here than leave here, that’s always the deciding factor on the Beaches. It’s why people are investing strongly in their own homes. It’s why investors are back in the market. It’s why first home buyers are taking an absolute dive back in.
This is a marketplace that doesn’t seem to be going anywhere but up.
So if you’re looking for advice, that’s the tricky one. The crystal ball of the future’s always hard to predict. When we look at history, it always tells us this market keeps bouncing back.
When we look at supply, we look at demand, we look at the low interest rate environment, I have to tell you, it looks like this market’s here to stay.
We hope that you’ve found this helpful. Stay tuned for our upcoming bite-sized market updates from Georgi, Michelle, and Matt.
Please note: It’s business as usual for us until we close for the Holidays at 5:30pm on Wednesday 23rd of December. Our offices will then reopen in 2021 on Monday 4th January. If you have any questions, please don’t hesitate to get in touch 9949 7077.