Sydney - Northern Beaches

[Red Car]

Hi Red Car,

My understanding is that the capital works will be to create right turn bays and dedicated bus lanes by removing parking. So, it will deliver a net improvement for all commuters, but moreso for buses fitted with GPS to allow priority at traffic lights if they fall behind schedule.

The dedicated bus lanes free the main two lanes for cars only. At present cars compete with buses in these lanes. So, in effect, they're creating a whole other lane.

Cheers,
Michael

The parking begins at the top of the hill after the speed camera if heading towards Mosman shops right? So I guess you can remove some traffic there, although you will still have issues with a lane being taken up by excess cars trying to turn right onto Ourimbah road. That one can be a pain sometimes.

I was just picturing coming down the hill through Clontarf and on to the spit bridge still being a real bottleneck as they cant make the bridge 3 lanes so either one lane becomes a bus lane or that part remains shared. The same goes for the other side heading towards Seaforth. You also cant avoid the snarls when they have to open the bridge

Will be interesting to see what they do. Although I cant imagine it making much difference. Traffic through there is a nightmare at most times but it is a tricky issue to fix without big dollars.

 

[Alabex]

Hi Cheetah,

I currently live at Dee Why after buying a unit in at the end of 2004 (although lived on the Nothern Beaches my whole life). Being a Northern Beaches local yourself you probably have a pretty good idea how Dee Why is perceived by other NB locals. I often come across alot of other people who own in Dee Why when i'm out and all agree that we like people thinking badly of it cause it keeps the area 'local', not 'tourist' like Manly.

Considering the number of units in Dee Why, the number currently for rent is really low (about 45 today) so there is rental demand. I have heard that alot of units are being bought by owner occupiers, in my block alone we have gone from 3 out of 14 in 2004 to 8 out 0f 14 today, being more affordable than Freshwater etc thats probably why.

I personally do not think you can go wrong if you buy, the beach is just beautiful and they are planning alot of work around the town centre in the next year. One bedders, or unrenovated two bedders east of Pittwater Road and not on Pacific Parade would be my pick.

A

We have noticed a huge amount of our rent roll that goes on the market is being sold to owner occupiers. If it is happening in our relatively small office at the same rate in the larger agencies than that is a lot of stock coming out of the rental market....

As has been mentioned Dee Why doesn't have a great rep amongst NB locals. However if you can pick something up on the east side of pitwater road then you will be doing well... As michael has pointed out alot of the dingy areas are being redeveloped (does anyone else hate going into the arcade where spotlight was..eek??). A particularly good area IMO is in the run up towards Curl Curl - Boronia St and the like. I think you will pay slightly more for these area initially but it will be well worth it.

Another great place to buy if you can get something is North Manly - after Harbord and before the industrial section! People love it so close to beach and to the mall.... it still is quite resonably priced when compared to Manly

If you would like any RP Data info on any Dee Why buildings/properties feel free to PM me.

 

[Alabex]

Between my North Narrabeen PPOR and my Mona Vale MUH development site, I know I'm in a strong property position. I just need the next 5 years to play out as anticipated and I'll be set up for retirement. Fingers crossed and wish me luck!!

Cheers,
Michael

Michael with that location i dont think you need our luck... you will be just fine

 

[Red Car]

I think Manly Vale is a very underrated area and a good option for the investor. I know people who have picked up decent 2 bedroom places for under $300k that have rented out for good money. I dont know why so many people seem to ignore this area?

 

[Alabex]

I think Manly Vale is a very underrated area and a good option for the investor. I know people who have picked up decent 2 bedroom places for under $300k that have rented out for good money. I dont know why so many people seem to ignore this area?

Our PM department has not had much luck witht he ManlyVale properties. They have an industrial feel and tend to attract questionable tenants. they also tend to take longer to lease..... In fact i have just had a quick look through our rent roll and all except one of the tenants are frequent arrears problems. I can also remember in my time as a PM evicting several tenant in that area for non-payment of rent and excessive noise complaints We dont like to admit it but there are a couple of street in Manly Vale that we no longer accept managements in.

However despite letting them know about our concerns with the area - some of my friends have bought in the area and love it.

 

[Red Car]

Our PM department has not had much luck witht he ManlyVale properties. They have an industrial feel and tend to attract questionable tenants. they also tend to take longer to lease..... In fact i have just had a quick look through our rent roll and all except one of the tenants are frequent arrears problems. I can also remember in my time as a PM evicting several tenant in that area for non-payment of rent and excessive noise complaints We dont like to admit it but there are a couple of street in Manly Vale that we no longer accept managements in.

However despite letting them know about our concerns with the area - some of my friends have bought in the area and love it.

Wow! There you go. Thanks for sharing that info as I did not know that. The three people I know with places there, one lives in it on his own, one rents the whole unit out and the other lives in the unit and rents the second bed room out. All three paid under $300k for something that is not that far from the beach and seemed ok to me. Not my taste but others seem to like it. Funny when you consider its the suburb so close to Balgowlah, Seaforth and Fairlight.

How would you compare Manly Vale to Dee Why?

 

[Alabex]

Wow! There you go. Thanks for sharing that info as I did not know that. The three people I know with places there, one lives in it on his own, one rents the whole unit out and the other lives in the unit and rents the second bed room out. All three paid under $300k for something that is not that far from the beach and seemed ok to me. Not my taste but others seem to like it. Funny when you consider its the suburb so close to Balgowlah, Seaforth and Fairlight.

How would you compare Manly Vale to Dee Why?

Personally i am not a fan of either however i dont have any bad storied to tell you about dee why it is just a personal opinion. I would just steer clear of anything west of pittwater road - such as fisher, south creek etc. we manage and sell a little bit in dee why and honestly i couldn't tell you a bad/horror story...

One thing i think has haunted dee why a little bit is a bit of an oversupply of units... there has been a lot of new builds and they all hit the market very close together which i think forced some of the prices down... but there is only so far that can go and then it will all balance back out again. If i was to buy in deewhy it would be in the few blocks near the beach and to the south towards curl curl.

 

[Big Tone]

I had an IP in Manly Vale, Quirk RD, Bought 1997, $262k sold 2003 $347k, similiar in same block now $330k ?????

Big Tone

 

[msa]

Not wise to invest where is a glut of supply/low demand area (Dee Why)

Hi,

I am a new member with a couple of IP with DHA. I am ready to buy my next IP and are looking for something on the Northern Beaches where I live. (to potentisally renovate).

Can anyone comment on Dee Why as a suggestion to buy a unit ?
Thanks

-----------------------------
To invest wisely always look for a type of product that is not widely available in the same market (suburb)!
As anyone living on the Northern Beaches (like myself) would know, there are already a huge supply of units available in Dee Why.
Value has a lot to do with supply/demand.
There are many investors already renting out their units in DY, the more supply of units are available in that suburb, the less demand from renters that will be looking forward to rent your unit. The huge supply of that type of accommodation will drive that market down.

Instead look for something that is lacking in supply and has more demand from the local population, such as houses or semi/townhouses in a better suburb.

 

[sash]

Disagree there.....better locations have low yields and thus more from your pocket. If I coudl get something under 300K for a 2 bedder in Dee Why or Manley Vale I would snap it up. The NSW govt./ council is putting a lot of money into redeveloping Dee Why in particular.....just look at what has happened at Narrabeen.

-----------------------------
To invest wisely always look for a type of product that is not widely available in the same market (suburb)!
As anyone living on the Northern Beaches (like myself) would know, there are already a huge supply of units available in Dee Why.
Value has a lot to do with supply/demand.
There are many investors already renting out their units in DY, the more supply of units are available in that suburb, the less demand from renters that will be looking forward to rent your unit. The huge supply of that type of accommodation will drive that market down.

Instead look for something that is lacking in supply and has more demand from the local population, such as houses or semi/townhouses in a better suburb.

 

[Alabex]

I had an IP in Manly Vale, Quirk RD, Bought 1997, $262k sold 2003 $347k, similiar in same block now $330k ?????

Big Tone

2003 was an excellent time to be selling a property... i notice heaps of people who paid a lot of money for properties in 2003...

 

[Agenda]

-----------------------------
To invest wisely always look for a type of product that is not widely available in the same market (suburb)!
As anyone living on the Northern Beaches (like myself) would know, there are already a huge supply of units available in Dee Why.
Value has a lot to do with supply/demand.
There are many investors already renting out their units in DY, the more supply of units are available in that suburb, the less demand from renters that will be looking forward to rent your unit. The huge supply of that type of accommodation will drive that market down.

Instead look for something that is lacking in supply and has more demand from the local population, such as houses or semi/townhouses in a better suburb.

I have been tracking the Dee Why market for quite a number of years, I don't quite agree with you regarding the supply issue. Someone posted earlier that alot of owner occupiers are pushing the renters out which is very true (I mentioned here before that my block has gone from 3 OO to 8 in four years). Rentals advertised jump around the 40 mark and has done for about a year; you then look at Manly, it has 150 rentals available!!! Even Fairlight has 30!!

Re sales: I've found for Dee Why, the popular units are beach side (of course), over 100sqs, usually the older blocks (20 to 35 yo), garage, large balcony and north or east view and not looking into someone elses batheroon in the next block; they always sell pretty quick and for a good price - eg
28 Dee Why Parade sold $467,500 in July 2008; last changed hands in May 06 for $410,000 - that 7% per year which is not bad considering the pretty poor market.

So, where does everyone see the Northern Beaches unit market going in the more affordable suburbs of DY etc over the next two years?? Just out of interest.

 

[MichaelW]

Guys,

A couple of interesting articles in this weekend's Manly Daily put a smile on my dial:

Retirees flock to buy

ONE thousand people have registered for the largest retirement village to be built on the northern beaches, and it hasn’t even been launched yet.

The $200 million Warriewood Brook development, consisting of 260 apartments and a 119-bed nursing home, will be launched next month and completed next year but already numbers are about four times oversubscribed.

Ken Barber, chief executive officer of Anglican Retirement Villages, said people had to put themselves on a list to be considered as it was policy to deal with people on a first-come, first served basis.

Nice! Better get my top end adaptable units in the heart of Mona Vale on the market whilst demand for this sort of development is running hot!

And this one:

First home buyers back in the market

Agents report that over the last three weeks the number of first home buyers has shot up, inspection numbers have increased and more first timers are coming in with the promise of a gift from relatives of around $40,000.

They are still very price sensitive and rarely want to purchase anything priced over $500,000 but they are buying and there is a real feeling that the market has bottomed out and now is a good time to buy.

Mark Novak, of The Novak Agency, said there was a new confidence in the marketplace and the hint that interest rates will drop before Christmas is spurring people to get in now.

“They are coming in saying we have been thinking about buying for a year or more but now we want to get in before it takes off again,” he said.

All good news!! That last one is a good read for Cheetah, one guy even mentions buying a unit in Dee Why as a toehold on the Northern Beaches before trading up over time to his dream home. You've got to start somewhere.

Cheers,
Michael

 

[asdf]

Heard the Stocklands development in Balgowlah is selling nicely too. Bodes well for the area but I still hate the Spit!

 

[sports fan]

hi everyone,
my first post here i was googling dee why and found this thread!

im a first home owner - bought in dy last year 2bed unit, lug, north facing, top floor outlook and ocean glimpse 365k

im very happy with it, i grew up in a much more affluent suburb on the end of the peninsula.. and always had the opion of dy being a bit of a slum, but since actually living here love it. really convenient, good transport links, array of shops close by, great surf (dy point goes off!!)

no doubt there are nicer less developed suburbs to live but dy has every thing and is great value for money.. with the proposed town centre going in, and future infrastructure in the pipeline i feel its property values will perform well would recommend to any1 thinking of buying here to live or invest

 

[MichaelW]

Hi Guys,

More good news for the Northern Beaches. For anyone arguing the top end property market is in for tough times, you need to be very careful and selective in how you apply that generalisation. In all markets, desirable areas hold their value better IMHO.

Here's some insight into the current market dynamics on the Northern Beaches:

http://manly-daily.whereilive.com.au/news/story/cashed-up-expats-buy-up-on-peninsula/

OVERSEAS money is being poured into peninsula real estate, with one Australian expat paying almost $3million for a Bilgola Beach property which he purchased without once stepping into the house.
Financiers who have lost their jobs overseas as a result of the financial crunch are returning home and buying up.
And even a contingent of Chinese are looking for peninsula property.
While locals are hesitant, the falling Australian dollar has suddenly made real estate very attractive to people holding stronger currencies.
In July, one Australian dollar was worth $US.97.
Today it is only worth $US.68 US cents, that’s a 39 per cent drop.
Overseas buyers are looking for prime real estate, often waterfront for more than $2million.
And the northern beaches is popular as it is more affordable than the eastern suburbs and Mosman.

And here's just a tad more insight into this mini-market:

http://manly-daily.whereilive.com.au/news/story/manly-shops/

SHOPPERS may be tightening their purse strings due to the global financial crisis but the northern beaches is bucking the trend on retail sales.

Cheers,
Michael

 

[karina]

No RECESSION on Prince Alfred Parade, this place just sold for 14.6 million!

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=30797149&s=nsw&tm=1225771765

 

[Shadow]

Hi Guys,

More good news for the Northern Beaches.

Hey Michael, here's some more good news. My Residex stats show that the Northern Beaches is up 9% over the 12 months to September, and up 2.7% in the three months to September alone!

The rest of Sydney not doing so well though - Residex is showing overall negative growth for Sydney over the 12 months to September (very similar to the ABS stats actually).

Good to see the beaches doing well - now just wait for all those interest rate cuts to kick in... I'm seeing a lot more activity at open house inspections etc. I think things are really starting to kick off!

Cheers,

Shadow.

 

[MichaelW]

Hi Guys,

Firstly, thanks Shadow! Some nice numbers. But the future for this little enclave is looking up and up. How about this article out today:

http://manly-daily.whereilive.com.au/news/story/job-pressure-in-pittwater/

Let me pick some choice bits out:

PITTWATER’S population is expected to rise by 43 per cent over the next 23 years to nearly 83,000, and the council wants as many as possible to work in the area.

43%! Wow. Ah well, I'll do my bit to accommodate some of that required housing expansion...

The study recommends Pittwater safeguards its industrial areas and accommodates additional floor space for retail, commercial and industrial employment, promotes Mona Vale as a prime office and specialist centre for health and community services, expands retail space at Warriewood and at smaller villages, safeguards industrial space at North Narrabeen and Mona Vale, promotes retail and commercial development in the Ingleside land release, gives more support to the marine industry and promotes working from home.

Did I happen to mention I have a high end MUH site in Mona Vale, close to all that new retail health commercial development going on. Oh, and the PPOR in North Narrabeen is looking solid too given the re-development planned for the retail strip.

Ah well, you lay the foundations, you reap the rewards. Just can't stop feeling upbeat about what's going on in this area at the moment and can't wait to start the development of my site next year!

Cheers,
Michael.

 

[Shadow]

Ah well, you lay the foundations, you reap the rewards. Just can't stop feeling upbeat about what's going on in this area at the moment and can't wait to start the development of my site next year!

Too right! It's all about location location location. I reckon we live in the best part of Australia bar none! I'm sitting on my deck right now watching the sun set surrounded by lorikeets & parrots. Life is good!