Manly Vale has been one of the northern beaches' quiet success stories.
According to Dave Holm of Holm & Hutton, Manly Vale has seen consistent capital growth of eight to 10 per cent over the last five to 10 years. However, it seems that people have finally discovered the benefits and beauty of this once unassuming suburb. Once considered the poor cousin to nearby cosmopolitan Manly, the suburb has recently carved out its own identity thanks to its proximity to the beach, schools and easy-to-access public transport. Dave says: "The same growth figures of eight to 10 per cent have been achieved in the last two to three months alone, taking the average median sale price from around $2-$2.2 million to $2.45 million."
So the three-bedroom, two bathroom home at 5 Horning Parade is set to be very popular for those who want a head start in the next hot suburb. "The house is only two streets away from the main road, which means it's only five minutes' walk to the B-line - and yet it's so quiet," says Dave. "The demographic in Manly Vale is changing. There are now a lot more young families moving into the area as there are so many great amenities like good schools, Manly Dam, the skate park, golf course, access to the beach and Warringah Mall."
With expansive district views and glimpses of the Pacific Ocean, it's set to appeal to different buyers. Dave says: "It's a blue ribbon street and the house is currently one level so there is potential to capitalise and develop the block into a forever home. It will appeal to young families upsizing from a unit, but also downsizers because of the level access from the garage to the front door. Savvy investors are also looking at it as a property they can buy now and land bank, due to the high capital growth in the area."
No doubt, tradies looking for a chance to develop the property into a mega-home will also be eyeing this off.
Auction: June 9
Agent: Dave Holm, 0422 282 859, Holm & Hutton
Have something to say? Send a letter to the editor at: firstname.lastname@example.org
Our journalists work hard to provide local, up-to-date news to the community. This is how you can access our trusted content: