Northern Beaches Property Developments Under the Limelight for 2022
The construction sector in Australia plays a major role in the economy, and consequently in the urban development of the Northern Beaches.
At Cite Group, we are experts in identifying and providing information about the thriving construction sector and we understand property in Sydney. Our mission is to continue contributing to the livability of the Northern Beaches and improve its infrastructure, while simultaneously ensuring the seamless completion of your project.
So, if you are a developer, you need to understand the importance of having a highly resourceful project manager on board. While there are clear signs that the property market is already recovering from struggles posed by the pandemic, property developers will have to alter their offerings to meet new needs in both location, functionality, and design.
This article will highlight the critical considerations for why property developers should concentrate on residential projects in the Northern Beaches in the coming year, with Cite Group.
Urban growth and development in the Northern Beaches region
Similar to Sydney, the population of the Northern Beaches is growing and is doing so rapidly. With an increase in population comes an increase in demand for residential developments as urban sprawl continues, improving infrastructure and local economies.
As a property developer, what’s important here is the conversion of industrial lands to residential lands in the region. Cite Group knows all about assisting in this conversion through low to medium-density housing and encourages development in the area, inviting new residents to the Northern Beaches.
Buyers’ incentives and concessions over the last two years have also sparked a surge in demand in the Northern Beaches, with purchasers eager to take advantage of the opportunity to capitalise as a property owner, fearful of missing out. Interest rates on cash and mortgages, despite the slight increase, continue boosting demand, making quality housing more accessible for the resident, and most sellable for you, as a construction firm. It’s a win-win.
The perfect balance between social, economic, and natural landscapes
Since the outbreak of the pandemic, investors have faced substantial difficulties or reservations when considering where to initiate their next project. Many investors have become apprehensive of the market as a result of this.
The high-rise apartment industry bore the brunt of this anxiety. Industries that rely on renters were hit hard by job losses during the peak of the 2020 crisis. Renters began to leave, causing vacancy rates to rise in the main cities across Australia, including Sydney, NSW.
However, what is unique about the Northern Beaches is that the local economy relies heavily on its population, meaning residential developments work harmoniously with the region’s economic plan. Its industrial zones, major manufacturing and quality retail precincts operate hand in hand, creating a community of businesses.
Naturally, the future of the region can be considered as ‘secure’ as a result of such harmonious balances between the social, economic and natural landscapes.
Cite Group’s vision for your next property development
Sydney’s Northern Beaches can be classified as a ‘go-to’ for property success. Our established knowledge in the industry means you can trust our proven reputation, across all areas around Sydney.
However, Northern Beaches remains under the spotlight for us for 2022 as new (or post-covid) circumstances ushered in a slew of new changes across the industry, necessitating a shift in favour of population growth in the region.
There are several hints that the present year will be fruitful for developers that invest relatively soon. Property values are expected to rise, making it an ideal opportunity to gain market share. Take advantage of the rezoning of the Northern Beaches with Cite Group’s unique position in the forefront of the industry.
For more development insights, contact us for more of our property updates.