NOVAK NEWS - WHAT'S REALLY STOPPING NEW HOMES? CLUE: IT'S NOT BUYERS

WHY NORTHERN BEACHES PRICES KEEP RISING 📈🔥 Less land. Fewer builds. Developers stepping back. And the DA numbers prove it 👇 DA LODGEMENTS — THEN VS NOW: 🏗️ 2020–21: • 213 new dwellings • 140 secondary dwellings 🏗️ 2024–25: • 171 new dwellings • 86 secondary dwellings That’s a massive drop in supply — and it’s exactly why prices aren’t slowing down. Developers are cautious, construction costs are up, the maths isn’t “mathing”… and even if they can build a duplex, many won’t. Meanwhile, off-the-plan is shining ✨ Limited stock. Established suburbs. Strong demand. (And yes… 6 people in our office have bought off-the-plan themselves 👀) Less supply = higher prices. It’s as real as it gets on the Northern Beaches. #MorningMinutes #NovakProperties #NorthernBeachesRealEstate #PropertyChat #DAApprovals #OffThePlan #SydneyProperty #NorthernBeachesLiving #PropertyMarket2025