7 Best Investment Suburbs Northern Beaches 2024

As expected for one of the most popular and lucrative regions in Sydney for investment, median house prices on the Northern Beaches are slated for continued steady growth in 2024. Continuous demand from individuals wishing to invest in the beautiful suburbs of the Northern Beaches mean that property prices are now average $2-3 million.

For buyers looking for their next investment, as well as Sydneysiders looking for a coastal change, the Northern Beaches offer excellent value and convenience amidst some of Sydney’s most beautiful landscapes.

So, which suburb should you invest in? Here are the best investment suburbs on the Northern Beaches for 2024.

 

Narrabeen

Sandwiched between the lagoon and the east coast, beachside Narrabeen has shown an impressive 24.5% growth in house prices, making it one of the strongest considerations for investors with the capital to meet its $3+ million median house price. 

With consistently high demand for housing in this locale expected to continue supporting capital growth, Narrabeen is a lucrative option for investment in 2024. 

Median house price: $3,150,000 (Up 24.5% since April 2023)

Median unit price: $1,170,000 (Down 4.1% since April 2023)

Median weekly house rent: $1,375 (Up 25% since April 2023)

Median weekly unit rent: $700 (Up 7.7% since April 2023)

Rental yield: 2.1% (House), 3.5% (Unit)

Median weekly household income: $1,780 (ABS, 2021)

Population: 8,255 (ABS, 2021)

Private dwellings: 4,192 (ABS, 2021)

Appeal: Coastal living with easy access to Narrabeen Beach, local cafes, and amenities.

 

Dee Why

Dee Why’s reputation as a coastal suburb is outshined by the sheer number of the housing options that it offers at over 11,000 dwellings. Despite this, competition among investors remains relatively healthy with median prices hovering at $2,450,000 for houses and $895,000 for units. The availability of its market makes it a worthwhile location to keep an eye on for an investment property in 2024. 

Median house price: $2,450,000 (Down 4.9% since April 2023)

Median unit price: $895,000 (Up 1.7% since April 2023)

Median weekly house rent: $1,170 (Up 21.9% since April 2023)

Median weekly unit rent: $670 (Up 11.7% since April 2023)

Rental yield: 2.4% (House), 4.0% (Unit)

Median weekly household income: $2,106 (ABS, 2021)

Population: 23,354 (ABS, 2021)

Private dwellings: 11,001 (ABS, 2021)

Appeal: Suburban living with the added appeal of the nearby coast and established lifestyle amenities. 

 

 

Manly

Manly is highly sought after by residents and buyers alike for its pristine beaches and laid-back beachside lifestyle. Its median property price is certainly reflective of that, with house prices climbing toward $4.5 million and unit prices sitting at well over a million. Investing in Manly in 2024 is a good way to capitalise on its future potential for growth as one of the top places to live on the Northern Beaches. 

Median house price: $4,420,000 (Up 14.8% since April 2023)

Median unit price: $1,625,000 (Down 11% since April 2023)

Median weekly house rent: $1,800 (Up 12.5% since April 2023)

Median weekly unit rent: $900 (Up 15.8% since April 2023)

Rental yield: 2.2% (House), 3.0% (Unit)

Median weekly household income: $3,164 (ABS, 2021)

Population: 16,296 (ABS, 2021)

Private dwellings: 8,649 (ABS, 2021)

Appeal: A thriving coastal community with picturesque walks and a healthy spread of food and shopping options.

 

Warriewood

Located on the upper end of the Northern Beaches, Warriewood offers an affluent lifestyle with a plethora of shopping options at Warriewood Square. The suburb showcases one of the highest average rental yields, positioning it as a lucrative opportunity for investors looking for higher returns at a lower price point. 

Median house price: $2,250,000 (Up 6.6% since April 2023)

Median unit price: $1,437,500 (Up 18.8% since April 2023)

Median weekly house rent: $1,272 (Down 2.1% since April 2023)

Median weekly unit rent: $850 (Up 7.6% since April 2023)

Rental yield: 3.0% (House), 3.6% (Unit)

Median weekly household income: $2,598 (ABS, 2021)

Population: 8,379 (ABS, 2021)

Private dwellings: 2,938 (ABS, 2021)

Appeal: Affluent living with lots of options for shopping and recreation. 

 

Beacon Hill

Properties in Beacon Hill benefit greatly from the natural elevation (over 100m above sea level), offering great views alongside easy access to Sydney’s major roads that run through it. Median property prices have been seeing gradual but consistent growth over the past 12 months, indicating its viability for those looking to buy property on the northern beaches. 

Median house price: $2,305,000 (Up 17.6% since April 2023)

Median weekly house rent: $1,050 (Up 7.7% since April 2023)

Rental yield: 2.6% (House)

Median weekly household income: $2,937 (ABS, 2021)

Population: 7,814 (ABS, 2021)

Private dwellings: 2,534 (ABS, 2021)

Appeal: Suburban living with easy access to the CBD and the rest of Sydney. 

 

Manly Vale

Manly Vale stands out for its unique blend of community spirit and scenic beauty, thanks to its lush parks and proximity to all the conveniences of the city. With a growing list of 2,725  properties at relatively affordable median property prices, Manly Vale is set up for high growth in 2024.

Median house price: $2,725,000 (Up 11.9% since April 2023)

Median unit price: $961,250 (Up 6.8% since April 2023)

Median weekly house rent: $1,300 (Up 6.1% since April 2023)

Median weekly unit rent: $680 (Up 13.3% since April 2023)

Rental yield: 2.5% (House), 3.9% (Unit)

Median weekly household income: $2,351 (ABS, 2021)

Population: 6,389 (ABS, 2021)

Private dwellings: 2,725 (ABS, 2021)

Appeal: Easy living with lots of green spaces and local community charm. 

 

Balgowlah

Located along the North Harbour, Balgowlah offers seamless connectivity to the Sydney CBD due to its proximity and access to major connecting roads. It is a beautiful suburb that offers a peaceful yet vibrant living environment that is favoured among renters. With the median rent for both houses and apartments showing positive growth, Balgowlah is ripe for investment in 2024. 

Median house price: $3,410,000 (Up 7.6% since April 2023)

Median unit price: $1,210,000 (Down 6.9% since April 2023)

Median weekly house rent: $1,575 (Up 12.5% since April 2023)

Median weekly unit rent: $725 (Up 6.6% since April 2023)

Rental yield: 2.6% (House), 3.5% (Unit)

Median weekly household income: $2,681 (ABS, 2021)

Population: 8,068 (ABS, 2021)

Private dwellings: 3,443 (ABS, 2021)

Appeal: Peaceful living and vibrant coastal culture close to the North Harbour.