Property Development Update: The Manly Vale Market
Whether you are buying, renting or investing, you must have an idea about whether a suburb is right for you. Is the area growing? Are there any future plans for development or infrastructure? What is the demographic? These questions should be at the back of your mind when seeking advice from your real estate agent/advisor – providing you with a clearer picture to help make your final decision.
Today, we are going to delve into a popular suburb in the Northern Beaches, Manly Vale. There is so much to love about Northern Beaches suburbs, but Manly Vale is unquestionably one that is making the top of the list. In recent years, the suburb has been given new life with increased commercial development, new infrastructure and population growth, boasting opportunities for the suburb.
We are here to provide you with an insight into median prices, real-estate and demographic information for Manly Vale residential developments in Sydney to help make your purchasing, investing or renting decision a little easier.
Infrastructure: Manly Vale property developments
There have been many new infrastructure new development in Sydney and suburb – including the introduction of Bunnings, Woolworths and ALDI, increasing commercial interest.
Due to the forecasted increased population in the area, the government has been making changes to the transport lines – making it more accessible for those living in the area. “The Northern Beaches Council area population forecast for 2020 is 273,409 and is forecast to grow to 309,333 by 2036.”
The B-Line express bus service, as well as an increase in car parks, has improved the public transport commute times for locals across the Northern Beaches. The recent improvements in transport also make this suburb appealing for new-comers to the area.
The Northern Beaches Council is also looking to consider how to reduce congestion in Manly Vale and Balgowlah regions – creating convenience and ease for locals. These improvements include:
- Road widening
- Increased street parking
- Improved pathways
- New traffic control signals
The government has also made other improvements in the area including a new vacation care centre which opened its door in 2018 in Manly Vale as well as an upgrade to the Manly Vale Primary School.
In addition, the Council has also proposed a “Bike Plan” which identifies expanding the cycling network, improved connectivity and safety to make cycling an attractive and safe alternative to motor vehicle use. The Draft Bike Plan has been presented to the council seeking endorsement to proceed to public exhibition. If all goes to plan, the final plan will be adopted in mid-2020. The Bike Plan is a great move for the suburb as cycling on the Northern Beaches is a popular activity with recent statistics showing “40.3% residents rode a bicycle in 2018, compared to the 25.4% average across Sydney.”
With all these new developments and improvements, Manly Vale has a wealth of potential. This area has become a great place to live, shop and raise a family – making Manly Vale a top contender for new residential developments in Sydney.
Should you invest in Manly Vale residential developments?
Investment property in Manly Vale has also performed quite well when compared to the rest of the city. Manly Vale has seen an increase in the median house price of 2.84% according to research conducted by Smart Property Investment. A survey of average capital gains or median home price increases in suburbs across the country shows that Manly Vale obtained 8.69% growth over ten years. Smart Property Investment ranks Manly Vale in the top 100 on their list of suburbs property investors should look into in New South Wales.
Market trends and demographics: residential developments in Manly Vale
Are you considering purchasing a new residential development or apartment in Manly Vale? According to the most recent Australian census, the population of Manly Vale consists of 6,166 people with an average age between 20 and 39 years. 46% of the population consists of families and 54% of them are single. Manly Vale has become a high demand market for families, singles and investors looking for residential developments in Sydney. Manly Vale has won the hearts of several demographics as it appeals to them all, in ways specific to each of their interests and lifestyles.
To grasp a better understanding of the market, here are some median property prices in Manly Vale – according to real-estate.com.
- 3 bedroom median house price – $1,842,500
- 3 bedroom median house rent price – $950/week
- 2 bedroom median unit price – $745,000
- 2 bedroom median unit rent price – $550/week
If you are interested in a new residential apartment, purchasing a property, or simply looking for an investment property in Manly Vale – it is safe to say, this Northern Beaches suburb ranks highly.
The Northern Beaches is known to be an area residents love and don’t want to leave. Who can deny the beauty and relaxation of a beachside lifestyle, with city connectivity?
Take for example our newest destination, Qube by Cite Group. The luxury apartments embody contemporary living in an ultimate environment of style and serenity.