The best beach in Sydney – and how much it costs to live there

“It’s certainly not cheap to buy into,” Piddington said. “Bower Street is the most desired street in Manly. It’s just one street that’s drastically more expensive than any other street in the suburb.”

Piddington said a typical home in Manly is around $5 million-plus, while your absolute entry level is a studio between $600,000 to $800,000.

Despite the high prices, Piddington said Manly was relatively affordable to out of area buyers from the east, Mosman on the lower north shore, as well as the upper north shore.

“We’re not half the price of Bondi, but we’re certainly less than a lot of the properties there,” he said. The median house value for Bondi Beach is $4,108,657 on CoreLogic data.

Piddington said the lack of stock makes Manly a tightly held suburb with sky-high prices.

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Novak Properties’ Lisa Novak agreed that Manly comes with a price tag.

“You’re paying for that luxury lifestyle. Dee Why Beach, a bridesmaid suburb, is a more affordable option where you could rent or buy an apartment for a lot less,” she said.

“Manly is an extremely tightly held area, particularly around that Bower Street precinct. You’ve got families that have lived in these areas for a very long time. Demand is high, and supply is low, and that’s what keeps these property prices so high.”

Novak has noticed high-profile buyers from the east are now turning their attention to Manly.

“There are some areas in the eastern suburbs where sales have exceeded $40 million. In Manly, you can still have all the luxuries of beachfront living for maybe half the price tag,” she said. Lang Syne in Tamarama sold for a record-breaking $45 million in 2023.

Novak said that given the lack of supply, buyers will overpay for a fixer-upper to get that premium location. A two-bedroom home with no interior photos on the listing sold for $2,546,000 last year.

“Manly almost has its own micro market. You’ve got the western hill and the eastern hill, where prices change significantly. You can get into that western hill precinct for around $6 million.”

PK Property managing director Peter Kelaher said buyers want to live in Manly with its easy access to cafés and restaurants, and ferry access into the city.

“That feeling of going to work with a ride along the beautiful harbour is the appeal,” he said. “It’s an expensive suburb, so it’s not a first home buyer market. Buyers are mainly downsizers from Mosman and those after an investment property.”

Kelaher said interest was from all areas of Sydney as well as Australian citizens living in London. “They miss the sunshine and want to move back.”

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Equilibria Finance managing director Anthony Landahl said Manly’s cafe and restaurant culture makes Manly the most popular choice in the northern beaches for young buyers.

However, given the price tag, they might have to make compromises or consider a bridesmaid suburb.

“They might have to sell a property beforehand and have help from the bank of mum and dad. Balgowlah and Freshwater are popular choices when priced out of Manly,” he said.