Fairlight might be one of the northern beaches’ smallest suburbs, but it continues to hold its own in the apartment stakes.
The suburb is highly regarded for its harbourside apartments, many of which offer spectacular point blank water views and access to the foreshore walkway that meanders past swimming areas and reserves to Manly Wharf and the Corso.
It will come as no surprise that Fairlight’s median apartment price of $1,185,000 is well above the general northern beaches unit of $885,000.
But it is below the unit median for neighbouring Manly which is $1.35 million based on the last 282 sales in a year.
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The highest price paid for an apartment in Fairlight was in 2015, with the $5.5 million sale of a penthouse at 1 Lauderdale Ave. It is the suburb’s second highest sale price ever, behind the $6.1 million paid in 2003 for an apartment development site at 21-25 Clifford Ave.
So this wonderful find at 8/1 Margaret St represents great buying. The two-bedroom apartment is opposite the harbour foreshore, has good harbour views and has a guide of $950,000 and goes to auction on Saturday March 2.
With an auction guide below the suburb’s median sale price, but the light-filled apartment has been recently renovated and is located in a boutique block of 12.
The first-floor, strata-titled apartment sits opposite Delwood Beach and the Fairlight Rockpool, and has extensive harbour views.
It would make an ideal investment, with CoreLogic reporting the median weekly rent for Fairlight currently sitting at $698.
Other features include combined lounge/dining room and large lockup storage space.