Manly's prestige apartment sales spree

Manly's prestige apartment sales spree
Manly's prestige apartment sales spree

The Manly silvertail apartment market is pumping, but Sydney suburbs more associated with fibros are not missing out when it comes to affordable luxury.

Just this month there's been the $7 million plus sale of coal miner Tony Haggarty’s Manly apartment (above) overlooking Fairy Bower.

It was scheduled to go to auction last Saturday, but was snapped up by a local buyer through McGrath agent Jake Rowe who had strong interest from two other buyers.

The four bedroom, three bathroom 430 sqm, Vince Squillace designed apartment is spread over two levels with a terrace with a glass walled plunge pool.

On the North Steyne promenade there was a $5,125,000 sale last week.

Another over two levels, the four bedroom apartment had 200 sqm of living space with four terraces, Ray White selling agent Adam Reeves said.

The property traded at $4.4 million in 2007. 

The Manly record still stands at $12.2 million when a five bedroom sub-penthouse down the road sold to the co-founder of Greenhill Caliburn, Peter Hunt and wife Ellie.

The Hunt couple bought the apartment off the plan with lap pool in 2008 in the Susan Rothwell designed Waillea building.

The median for a Manly four bedroom apartment is $2.6 million.

Manly's median unit price sits at $1.02 million, up from $710,000 in 2013, and $620,000 in 2008, according to CoreLogic RP Data.

A development application at 138 North Steyne could see another two level penthouse come up for sale shortly through Adam Reeves. 

Across town in fibro territory, the prices aren't quite that of the Northern Beaches. 

Despite being at record levels, Canterbury's average unit sale price is $650,000 with Bankstown's $470,000.  

The soon to be compete Mosaic residential building at Bankstown is being marketed as 'where luxury and location meet' with apartments ranging from $449,000 to $675,000, "with incomparable living in one of Sydney's most culturally diverse and vibrant communities."

This article was first published in the Saturday Daily Telegraph.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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