Manly's median apartment price now exceeds $1million (Australia). Among the large ticket sales in December and January, the sale of the oceanfront penthouse at 125 North Steyne that is about $3 million is the highest, according to News AU. Agent Jake Rowe, of McGrath Manly, who refuses to share the actual amount of the sale could not say anything beyond the fact that home got very strong interest. And speaking about the market in Manly, he said, "There is a lot of interest in apartments in Manly at the moment."
According to News AU, a report of the latest Market Trends by CoreLogic RP Data says that the median sales value of apartments in Manly is now at $1.02 million. That is a whopping 44.3 percent increase in a period of three years based on sales of 358. The record was surpassed by Seaforth that currently has a recorded unit median sale price at $1.25 million which is a 66.7 per cent increase in a period of three year on 17 sales.
According to Daily Telegraph , Manly's growth in apartment median prices reflects the price grown in the housing market. The median sales prices is now $2.2 million which is also a 44.3 per cent grown over the same period. With such market trend Mark Connor, of Cunningham's Property had closed a deal that included a modern two-bedroom apartment at 3 Camera St, Manly, in December for $1.02 million. The property which does not event have a parking space, with a large number of interest, was only in the market for 10 days before it was snapped up.
Speaking about the current market situation in Manly Connor said, "We are seeing a growing number of sales around that price. Manly is such a great desirable place, it comes down to supply and demand."