MONA VALE is a suburb to watch as house prices climb and as more businesses move in.
The latest three house sales in Mona Vale have all been north of $2 million — way above the suburb’s median — and agents say it is the next hot spot on the northern beaches.
In addition, commercial and industrial real estate is selling strongly with businesses relocating from Brookvale.
Ralph Hardy, of Hardy’s 1 Realty, said small and medium businesses are moving north to Mona Vale thanks to better affordability and better delivery access.
Selling for $240,000 over reserve, 35 Park St, Mona Vale had investors interested.
“Retail in Mona Vale is very tightly held and there is a shortage of stock for office and industrial property,” Mr Hardy said.
“Commercial prices are going up and investors are looking, the market is strong in Mona Vale and has been for the past six months.”
Mona Vale is a gateway suburb two-thirds of the way up the northern beaches at the end of Mona Vale Rd which extends west to Ryde. The main arterial road is also being widened.