Australia’s top 10 suburbs for property sales: Manly makes top 5 with $400m in apartment sales for 2015

MORE than $400 million worth of Manly apartments have changed hands in the past 12 months, scoring the suburb a spot in the nation’s top 5 hottest property sales list.

ALMOST half-a-billion dollars worth of apartments have changed hands in Manly on Sydney’s northern beaches this year, landing the seaside suburb in the national top 10 for sales values.

New property data put Manly’s total value of sales in the 12 months to September at $419,658,963, fifth on the national list behind Melbourne city ($847,379,626), Surfers Paradise ($646,603,424), Sydney city ($476,970,636) and Mosman ($446,651,567).

The median price of a unit in Manly is $1.01 million.

Trailing Manly was South Yarra (Victoria), Hope Island (Queensland), Southbank (Victoria), Pyrmont (NSW) and Randwick (NSW), the 2015 Best Of The Best report from CoreLogic RP Data revealed.

With a view like this from the penthouse at Ivory Sands, 111 North Steyne, who wouldn’t want to live in Manly?

The report looked at total sales values in the greater Sydney market and Manly came in at No. 3 three behind Sydney and Mosman and ahead of Pyrmont, Chatswood and Rhodes.

Dee Why came in eighth, with unit sales valued at $337,312,490.

The report looks at property data across the country for 2015 and identifies top performing suburbs when it comes to median values, growth, rents, affordability and total sales values.

Northern beaches agents said it was a great vote of confidence in the area.

Michael Clarke, of Clarke and Humel, said Manly had grown from “sleepy seaside village” to a thriving harbour metropolis that was attracting commuters wanting easy access to the city and a cosmopolitan lifestyle.

16/84-85 North Steyne, Manly was sold this month for $2.7 million by Michael Clarke.

He said strong sales had continued even when the Sydney market started to soften.

“It is surprising that such a tiny little suburb would punch so far above its weight, but on the other hand, who wouldn’t want to live in Manly?” he said.

Jake Rowe, of McGrath Manly, agreed.

“It gives Manly a big rubber stamp, saying ‘great place to live’,” he said. “It’s really the last 20 years of gentrification in Manly that have put it on the map.”

Jake Rowe sold this apartment in the Dungowan building on South Steyne, Manly, for $4.675 million.

Other northern beaches suburbs also got a mention in the report for showing strong performances in other markets.

Duffys Forest ranked ninth in the national top 10 for highest median value ($3,605,366), blitzing Melbourne’s top performer Toorak ($3,048,922), which did not make the national top 10.

Palm Beach units made it on to the national top 10 for median values ($1,319,761), ahead of Cremorne Point ($1,240,037) and Tamarama ($1,210,663).

Units in Belrose and North Curl Curl ranked seventh and ninth respectively when it came to the greatest five-year change in median values, and third and fourth respectively on the Sydney list.

The Wailea apartments in manly.

The lap pool and spa at the Wailea apartments in Manly.

Units in Belrose recorded growth of 91.9 per cent to end the year on a median of $825,670, with North Curl Curl not far behind with 90.7 per cent growth, ending the year on a median of $958,708.

Northern beaches suburbs Clontarf and Seaforth made it on to the lists for the greatest median weekly advertised rents.

Clontarf was third for houses ($1748 a week), behind Tamarama ($2425) and Dover Heights ($1800), and ahead of Mosman and Bellevue Hill (both $1675), and Vaucluse and Rose Bay (both $1650).

Seaforth was eighth for apartments, with a median weekly rent of $800, ahead of Cremorne Point on $750.

The interior of an apartment at North Steyne, Manly.

THE CoreLogic RP Data 2015 Best Of The Best report analyses property national data for the 12 months to September and lists the top performers across sales and rental markets. Northern beaches suburbs that made it to the lists include:

■ Duffy’s Forest: ninth on the national and Sydney top 10 lists for highest median value for houses ($3,605,366)

■ Palm Beach: eighth on the national and Sydney top 10 lists for highest median value for units ($1,319,761)

■ Manly: fifth on the national top 10 and third on the Sydney top 10 for greatest total sales value ($419,658,963)

■ Dee Why: eighth on the Sydney top 10 for greatest total sales value ($337,312,490)

■ Belrose: seventh on the Sydney top 10 for the greatest five- year change in unit median values (91.9 per cent)

■ North Curl Curl: eighth on the Sydney top 10 for the greatest five year change in unit median values (90.7 per cent)

■ Clontarf: third on the national and Sydney top 10 for the greatest median weekly advertised rents ($1748)

■ Seaforth: eighth on the national and Sydney top 10 for the greatest median weekly advertised rents ($800)