Mid-2021 update: Lower North Shore apartment sales
We’ve had faith in Sydney’s Lower North Shore property for over 30 years and during the pandemic, our confidence barely wavered. In this blog, I’ll give you an overview of what’s happening regarding sales prices in the apartment market on the Lower North Shore and why we continue to trust in this beautiful area.
What’s happening in the Sydney property market?
For many property investors, we can’t deny that the period March to September 2020 was a shocker. Higher vacancies, lowered rents, forced sales ‒ it wasn’t pretty. However, we were delighted to see how quickly the market bounced back once restrictions were eased and pent-up demand came into play. Plus many Australians who had been working overseas fled back to the relative safety of Australia and needed somewhere to live.
About Cammeray, Cremorne and Neutral Bay
While mostly what we hear on the market is generalised, once you drill down into individual suburbs or areas, you’ll see they often have very different stories to tell.
With a younger demographic overall, in these suburbs, we often find renters who progress to homeownership. Maybe they buy a starter unit they can afford as they’re at the start of their career. Once they move up the career ladder, they’re ready to graduate to a larger property. And often, they stay within the Lower North Shore area. With such a variety of housing stock at different price points, there’s something for everyone, from property investors to first home buyers.
Our property investors and new home buyers understand the appeal of Art Deco or established apartment buildings, harbour views, the buzz of Military Road, alongside the proximity to the CBD ‒ and access to open green space. These attributes also mean properties on the Lower North Shore remain highly sought-after by potential tenants as well as buyers.
What’s happening with sales on the Lower North Shore?
Right now, the stars are aligned for property investors with unused equity in their existing properties. The economy is humming along nicely, interest rates are at an all-time low, and while apartment prices are rising, they’re not heading north as quickly as house prices or other properties in regional NSW.
However, the good times can’t last forever. Three out of the Big Four banks are predicting that interest rates will begin to rise sooner rather than later should inflation take hold and start to bite.
Snapshots of Cammeray, Cremorne and Neutral Bay
Cammeray NSW 2062
Cremorne NSW 2090
Cremorne has a high proportion of single-person households at 56%, which often translates to higher demand.
Neutral Bay 2089
Can we help with your Lower North Shore investment property?
Neutral Bay has a high proportion of single-person households at 62%, which often translates to higher demand.
With our long-standing experience and expertise in Lower North shore property, we’re here to help, whether you’re considering selling or need hands-on property managers to optimise the value of your property investment. Call us today.
