Suburb spotlight on: Manly, NSW
Who’s got top market share?
The long sought-after area of Manly has gone from being a surfer’s suburb to a much more family-focused place over the past few years. Its beautiful beaches are backed by acclaimed cafes, restaurants and a thriving commercial centre. With only a short ferry ride into Sydney CBD, the harbour cruise is one of the world’s most picturesque commutes. A range of real estate options from apartments to exclusive modern family homes make Manly a flexible and lucrative opportunity for a new sales office.
Let’s look at the market share in the area. Stone Real Estate Manly has the highest market share at 17% with Clarke & Humel Property also at 17%. Cunninghams – Balgowlah rounds out the top three with 16%.
Manly is predominantly made up of singles and young families at 62% and 38% of the population, respectively. The average age is 20-39. According to CoreLogic data, the most popular property types in the area are three-bedroom and four-bedroom houses selling for an average of $2.58m and $3.59m, respectively. 55% of residents are renting, paying an average of $750 per week for a unit, presenting an excellent opportunity for a lucrative rent roll.
Manly’s beautiful family-friendly beaches, cultural attractions and a short commute to Sydney CBD make it the perfect spot for young families. A sales office looking for an established market and a lucrative rent roll would do very well in this suburb. If it’s a place of interest for you, we can help you build a competitive business. Talk to us today.