Over the last three years, the median sale price for an apartment in Manly rose 44.3% based on 358 sales in this period.
This massive growth helped tip the median apartment sale price to $1.02 million.
There are plenty of people willing to pay top dollar for a slice of beachside paradise, agent Jake Rowe of McGrath Manly said “There is a lot of interest in apartments in Manly at the moment.” The only other suburb to top Manly is Seaforth which achieved a median sale price of $1.25 million.
Mark Connor of Cunninghams Property believes that, “Manly is such a great desirable place, it comes down to supply and demand.” He recently had a property last just 10 days on the market with numerous buyers jumping in to drive up the price to $1.02 million – regardless that it didn’t have any parking.
“We are seeing a growing number of sales around that price,” Connor says. The great growth is mirrored by rise on median house sale price in Manly, which has also risen 44.3% over the last three years taking it up to $2.2 million.
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Photo by MD111