5 Factors Residential Developers in Northern Beaches Should Consider
Sydney’s Northern Beaches is a precious area that’s a dream for investors, residential developers, residents and visitors to the area. The laid-back lifestyle coupled with beautiful beaches and family-friendly atmosphere makes the area popular with a variety of residents, ranging from backpackers to large families. Taking the latter into consideration, residential developers can find it difficult to determine what residents want from a property in the Northern Beaches. In general, the Australian residential property development is strong due to the steadily increasing population and highly popular suburbs of Sydney. Additionally, higher density residential developments have been rising in favouritism, however, what factors do Northern Beaches’ residents want? What will present value to them?
Why choose the Northern Beaches?
Before we get into what residential developers should pay attention to when developing properties in the Northern Beaches, let’s first dive into why the Northern Beaches is a popular area to reside. This will give us more insight into important factors that a residential developer should consider.
- High buyer and renter demand make Northern Beaches an easy choice for investors and residential developers. Demand from both renters and buyers solidifies a steady need for different types of properties, giving developers low-risk investments.
- Continuous development
- Northern Beaches is a continuously upgraded area with the NSW Government making several plans for its development including, a new hospital, educational facilities and the Western Harbour Tunnel and Beaches Link which connects Northern Beaches with the Inner West at Rozelle.
- Northern Beaches is, of course, near the beach, making it a desirable destination and residence for many people.
- Current perks
- Currently, in addition to the proximity to beaches, surrounding facilities add to the attractiveness of Northern Beaches. Westfield’s Warringah Mall and the new express B-Line buses connecting Mona Vale to the Sydney CBD are just two of the perks of Northern Beaches.
5 factors a residential developer should consider when investing in Northern Beaches
Capitalise on location
One of the major reasons that people love the Northern Beaches is because of its proximity to the beach, however, while this should be taken into account, you should also think about the practicality of your property’s location. Many people interested in Northern Beaches’ suburbs are backpackers and young professionals who rely on public transportation (buses, trains and ferries). If you are deciding to invest in a rental property, then ensure that it is close to amenities such as grocery stores and transportation, especially to the city. For example, properties located within walking distance of Manly Wharf or Western Harbour Tunnel and Beaches Link are a safe investment.
Think beach proximity and view
Residing in Northern Beaches is not only perfect for investing in a property that’s within walking distance of one of its amazing beaches, but it’s a great opportunity to capitalise on the view of the ocean. Northern Beaches is home to impressive views, especially if your property is located on top of a hill or over the beach, so add value to your property by providing large open windows, sliding doors and balconies in order to capitalise on the beauty of Northern Beaches. Many residents will not only be in search of this feature, but they’ll also be willing to pay more for it.
Cater enough space
Many families in Sydney use Northern Beaches as a location for their family holiday home. This means that houses that have a lot of space and bedrooms will be in-demand by large families looking for a new vacation home. This can also double as rental space for backpackers who may only be interested in renting a room.
Install climate control
To maintain the comfort of buyers and residents at your Northern Beaches home, you should ensure that your property is properly climate controlled. This is incredibly important for ensuring that your home stays popular during the winter months. Ensure that the property is well-insulated so that its temperature can be maintained and power costs reduced. Heaters and fireplaces can also be value-added features.
Keep the aesthetic clean
With proximity to the beach and a laidback lifestyle, a modern, light and airy aesthetic showcases the true beauty of a home in Northern Beaches – its surroundings. Ensure that your property is attractive to its surrounding in order to offer the full experience of Northern Beaches.
At Cite Group, we are excited at the consistent growth in the Northern Beaches, and the new developments that are planned for its future. We know that this will help to generate positive benefits for the area such as increased tourism, job creation and economic growth, all factors that are greatly needed in the recovery of the COVID-19 pandemic.
We understand that as residential developers, it can be difficult to determine what the needs of an area of specific demographics are. On the flip side, for residents who are interested in moving to the Northern Beaches, determining one’s needs or what they should search for in a property in order to capitalise on their experience, can be a grey area. For both parties, we hope that our recommendation helps to make their investment in the Northern Beaches fruitful. To learn about Cite Group’s new developments, visit our website.