As part of our Suburb Spotlight series, we’re turning our focus to the picturesque suburb of Fairlight. This Northern Beaches gem has been gaining attention for its tranquil lifestyle and close proximity to Manly. But what does the rental market look like for tenants and landlords in this area? Let’s dive into the latest trends, breaking it down by property type and size.
Units in Fairlight
1-Bedroom Units:
With a median rent of $630 per week and a 3.40% rental yield, 1-bedroom units offer an affordable entry point into the Fairlight rental market. These properties spend an average of 11 days on the market, indicating solid demand. Price growth of 8.60% highlights the area’s appeal for singles and young couples.
2-Bedroom Units:
The median price for a 2-bedroom unit stands at $900 per week, with a strong 12.50% price growth over the past year. These units tend to be leased within 14 days, reflecting their popularity among small families and professionals. The 3.10% rental yield shows steady investment returns.
3-Bedroom Units:
Larger units command a median rent of $1,400 per week, with a 7.30% price growth. These properties take slightly longer to lease, at 20 days, as they cater to a more niche segment of tenants seeking extra space.
Houses in Fairlight
2-Bedroom Houses:
Renting a 2-bedroom house costs approximately $1,200 per week, with an impressive 11.40% price growth. These homes are snapped up quickly, averaging just 10 days on the market, making them a sought-after choice for small families or couples seeking more space.
3-Bedroom Houses:
With a median rent of $1,700 per week and the highest 15.50% price growth, 3-bedroom houses are a hot commodity. These properties, however, spend around 16 days on the market, indicating a competitive landscape for tenants.
4-Bedroom Houses:
Larger family homes have a median rent of $1,800 per week, with a 10.80% price growth. These houses take longer to lease, at 28 days, as they cater to a specific market segment seeking spacious living.
5+ Bedroom Houses:
The upper end of the market, at $1,900 per week, has seen a -4.30% price adjustment. These homes are typically leased in 18 days, reflecting a more balanced demand and supply dynamic for larger homes.
Rental Market Insights
The Fairlight rental market remains competitive across most property types, with strong price growth, particularly for 2- and 3-bedroom houses and units. The quick turnover for 1- and 2-bedroom units highlights their popularity among smaller households, while family homes cater to a more targeted demographic.
Looking Ahead
Fairlight’s rental market trends suggest continued growth, particularly for well-presented homes and units with modern features. Outdoor spaces and pet-friendly options remain highly desirable. With the holiday season approaching, the rental market in Fairlight typically sees an uptick, making it an excellent time for landlords to maximise returns.
Final Thoughts
Whether you’re a landlord looking to optimise your investment or a tenant searching for your ideal home, our team at Rightside is here to guide you. With local expertise and a focus on your needs, don’t hesitate to reach out.
