Dee Why property prices have historically lagged behind Manly although both are beach / seaside suburbs within close proximity and have similar trendy cafe and restaurant strips.
Over the last couple of years, new residential projects are being developed in Dee Why along the busy Pittwater junction. Talk is that property Dee Why is starting to move and catch up with the more expensive Manly. Warringah Council apparently has a masterplan for more infrastructure and spending to uplift Dee Why further.
Does anyone have any views on this?
awsydney,
I have some information that may interest you. I live in DY. Since 2000 DY has been in the top 20 postcodes in NSW for taking up the FHOG each year. Since May 2008 it has been in the top 10. Lots of unit development.
Median unit prices in DY currently $413k
Median rents $400p.w. Rental yield ave. 5.1%.
Rented properties make up 44% of households.
There is lots of further development and the council will need to spend big $$$ on improving infrastructure to catch up.
If your contemplating buying an investment unit in a recently built complex then make sure you do a thorough strata check ( ie minutes going back 6 mths ) as there has been structural problems in some of them.Hydra
Hydra
Thanks a lot for the info you have given me, sincerely appreciated. I have bought a unit off the plan in the Dee Why Grand development but it would not be ready until around May 2010. Yes, I’m aware the median is around $415k. It was about $405k when I exchanged in July. A local agent has estimated a rental yield of 5.7% for my particular unit. I was just curious as to the recent spate of new development around that junction.
Real estate agents are telling me the integrated development will uplift and transform the Pittwater / Pacific parade junction just like how Pacific Place transformed Maroubra junction. What do you think about that assertion?
Thanks again for your input and comments!
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