Across the Northern Beaches, and many parts of Sydney, we have seen huge value increases over the last six months. One area in particular, where we have seen evidence of this, is the leafy and convenient suburb of Manly Vale.
Despite Corelogic data showing a 12% increase in apartment price values over the past 12 months, our own internal data is showing something much more interesting. At Cunninghams, we have seen our median apartment value in Manly Vale increase by over 20% during that same time. This could be due to the quality of the properties we are selling, however as we are selling close to 40% of the sales in Manly Vale we feel our numbers are more indicative of the market today. It is also interesting to note that the popularity of the suburb has seen the number of units sold increase by 30% over the previous year.
For a suburb that was once the less desirable cousin of Manly, this little gem has now proved it’s worth with convenient transport links, shopping hubs, a café culture, fantastic schools and for some of the suburb – a flat walk or bike ride into Manly. With incredibly high demand for property in Manly, the flow on effect has continued into Manly Vale for it’s quiet leafy streets just a few hundred metres down Kenneth Road.
One of our recent local sales got us thinking about the once sleepy little suburb of Manly Vale, and in particular a street that had become much maligned over the years – Fairway Close. This street, tucked around behind Addiscombe Road adjacent to the golf course was, when it came to real estate, considered a less appealing location during the 80’s, 90’s and even into the early 2000’s. Fast forward 20 years and Fairway Close in Manly Vale is all grown up with new generations moving in, renovating and generally improving the apartment blocks. Buyers are also seeing the true value and benefits of this secluded yet so well located street that borders onto Manly. As a result this street is now one of the most sought after streets in the suburb, and our recent sales including the one at 23/13 Fairway Close gives a great indication of the high buyer demand.
The dual-level penthouse-style apartment has two bedrooms, spacious interiors, a lock-up garage plus car space, a huge nor-east facing terrace and two additional balconies. Boasting an impressive 149sqm on title, the apartment is situated on the top floor of a well-presented block, and the ability to open the apartment up from three sides gives it spectacular air flow from the on title terrace throughout the apartment. Under the expert guidance of Florence Labadens and her team, the owners vacated the property and opted for a partial styling service to enhance the presentation of this unique unit.
Over the first week, we showed 83 groups through the property with 25 of those requesting contracts. With this level of demand, the negotiations around this sale happened very quickly, selling within 7 days for a street record! Our buyers were ecstatic and our owners were truly elated at the premium result, and the seamless experience they had with Florence Labadens and her team.
“Florence and Julia have made the overall process stress-free and helped us through every step of the process. We have achieved results beyond all our expectations and are grateful to Florence and Julia for their support.”
“Florence was from the word go professional, informative and seemed really understand our questions, concerns and directions. She made the whole buying process seamless and keep us informed all the way through”
We still have lots of buyers – investors, first home buyers and owner occupiers looking to purchase in this sought after area and suburb, so please get in touch to find out more.