{"id":35385,"date":"2021-10-31T09:28:59","date_gmt":"2021-10-30T20:28:59","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=35385"},"modified":"2021-10-31T09:33:17","modified_gmt":"2021-10-30T20:33:17","slug":"northern-beaches-house-prices-jump-867500-in-a-year-rising-417-an-hour","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/northern-beaches-house-prices-jump-867500-in-a-year-rising-417-an-hour\/","title":{"rendered":"Northern Beaches house prices jump $867,500 in a year, rising $417 an hour"},"content":{"rendered":"

PHOTO: Nathan Hampson and his partner Caz Pattison just bought a house in Avalon after ending an almost year long search for a home together.\u00a0Photo:\u00a0Peter Rae<\/span><\/strong><\/p>\n

The cost of buying a house on Sydney<\/a>\u2019s northern beaches has jumped by a jaw-dropping $867,500 over the past year, new data reveals,equating to a cool $417 an hour based on a 40-hour working week.<\/p>\n

The median house price for the region is now $2,747,500, up 46.1 per cent to the year ending September, the latest\u00a0Domain House Price Report<\/em>, released on Thursday shows.<\/p>\n

Prior to the pandemic, the median house price in the region was sitting at $1.9 million but a rising tide of cashed-up buyers from across Sydney looking for land and lifestyle has seen both people and prices push north.<\/p>\n

\"Adgemis<\/a><\/div>\n
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Once snubbed for being too far from the CBD for city workers, the lockdown has given the region an entirely new appeal that ticks all the boxes for the new world order, agents say, in which working from home has become the norm.<\/p>\n

It\u2019s just far enough from the city to feel like a world away, yet close enough to complete the commute into work once or twice a week if needed, said\u00a0Cunninghams Real Estate managing director John Cunningham.<\/p>\n

\u201cIt\u2019s the fact that people are now not only valuing their internal space in the home, they\u2019re valuing where they live. They want to be on the coast [and] accessible to the harbour, bush and beaches. The transport to the city concept is no longer such a big thing,\u201d he said .<\/p>\n

But demand\u00a0has outstripped\u00a0supply and caused a meteoric house price rises this year that\u00a0would not be sustained into next year, he said.<\/p>\n

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