Manly kicks off the year with a new million dollar milestone

MANLY has become the northern beaches’ second suburb to post a median apartment sale price of more than $1 million.

• Australia’s top 10 suburbs for property sales
• Agent says Manly property prices will increase by 5-8% this year

MANLY’S  median apartment price has broken through the $1 million mark, as buyers pay top dollar for their own piece of the beachside paradise.

Topping a flurry of large sales in December and January is the sale of the oceanfront penthouse at 125 North Steyne, reportedly in the early $3 millions.

Agent Jake Rowe, of McGrath Manly, would not disclose the exact sale price, but said there had been strong interest in the home.

This luxury penthouse at 2/125 North Steyne, Manly, sold this month in the early $3 millions.

“There is a lot of interest in apartments in Manly at the moment,” he said.

According to CoreLogic RP Data’s latest Market Trends report, the median sale price for an apartment in Manly is $1.02 million, representing a 44.3 per cent increase in three years and based on 358 sales.

This is topped only by Seaforth, which recorded a unit median sale price of $1.25 million, a growth of 66.7 per cent in three years and based on 17 sales.

This trendy apartment at 4/3 Camera St, Manly sold in December for $1.02 million.

Manly’s rise in the apartment stakes was mirrored in the house market, which now has a median sale price of $2.2 million, a 44.3 per cent increase over three years.

Mark Connor, of Cunninghams Property, sold a trendy apartment at 3 Camera St, Manly, in December for $1.02 million.

The two-bedroom property was on the market for just 10 days and had a number of buyers in the race — even though it doesn’t have any parking.

Plenty of space and style but no parking.

“We are seeing a growing number of sales around that price,” he said.

“Manly is such a great desirable place, it comes down to supply and demand.”