What makes Northern Beaches a residential developer’s dream?
A residential developer always has a checklist of particular criteria that a property must satisfy before it is considered for investment. This ensures that the property is marketable and provides a significant return on investment. Northern Beaches has become one of the top places on every residential developer’s radar. Long known for its laid back lifestyle, beautiful beaches and retail therapy, it’s no surprise that Northern Beaches is an incredibly popular place to live, even amongst Sydney’s wealthiest.
So, what exactly makes Northern Beaches a dream for residential developers? Being a lovely place to live with a lot of wealthy people does not always make for a smart investment–there are several factors that one must consider. To explore the suitability of the Northern Beaches, let’s firstly look at criteria that residential developers search for in properties.
- Areas of growth
- Locations with strong local economies, infrastructure and population growth indicate a consistent and robust trajectory for years to come. Residential development takes time so, it’s important that growth in a location continues for years to come.
- Residential developers tend to focus on the actual location and what’s in store for its amenities and infrastructure in the future. This is a better indicator of return on investment than the immediate and current market and growth fluctuations.
- Few restrictions
- Zoning restrictions can make or break the type of property that developers can construct and impact their profits. Most will look for locations with flexible restrictions.
- Lifestyle of community
- The lifestyle of a community impacts the type of property that would be in demand and the amenities planned for the future. For example, university suburbs usually have a multitude of grocery stores, efficient transportation and many apartment complexes.
Top reasons Northern Beaches is a residential developer’s dream
Northern Beaches have a high buyer and renter demand due to the desirable laid-back and beach-side lifestyle. Wherever there is demand, there is a need for new residential properties especially in areas where residents are willing to pay more than average in the purchase price or rent per week. Buyer agents have consistently reported strong interest from clients in properties in the Northern Beaches, even during the COVID-19 pandemic.
Warriewood Valley will soon see additional roads, paths, parks and flood mitigation as part of a plan to accommodate 2,451 new dwellings. Frenchs Forest is preparing for a new Northern Beaches Hospital, enhanced educational facilities, 5,360 new dwellings and 2,300 new jobs. The Western Harbour Tunnel and Beaches Link which is set to be completed in 2026, connects Northern Beaches with the Inner Wast at Rozelle, a significant transportation connection.These plans are set to be completed in the near future, setting Northern Beaches up for consistent growth in the coming years. With planned improvements in infrastructure and new facilities, Northern Beaches becomes an even more attractive region to reside. Additionally, these improvements to the area will only cause the prices in the area to skyrocket, enabling large profit gains for residential developers.
Renovations to Westfield Warringah Mall were completed in late 2016. Recently, new express B-Line buses connecting Mona Vale to the Sydney CBD with only 9 stops has been introduced. Merivale also purchased The Collaroy and re-opened it in 2018 with new renovations, views of the ocean and wonderful dining experience. It has quickly become a hub for the close-knit community of Collaroy.
All of these amenities are what makes Northern Beaches an attractive and desirable place to live. With an influx of new residents every year, you’ll never be short of residents. It is highly likely that the government will continuously inject money into the infrastructure and facilities of the area due to the desirability and popularity of the area, ensuring that your investment is solid for years to come.
At Cite Group, we understand each suburb and region of Sydney. Northern Beaches is just the tip of the iceberg for us. Our team analyses and strategises so that you get the profits you deserve through a seamless process.
We focus on the development of new residential buildings. Through our conservative risk assessment program, our team will capitalise on investment and guarantee a smooth outcome, as proven in our pool of successfully completed projects. Learn more about joint venture opportunities at firstname.lastname@example.org. Keep up to date with us as we share more property news and insights.