How to get the edge when buying in a tightly held suburb

In a city that’s defined by its glistening harbour, showstopping coastline and diverse array of villages, it comes as no surprise that Sydney has a line-up of tightly held suburbs that many are willing to pay top dollar for. That is, when a property comes on the market.

“You tend to find areas like Mosman, Point Piper, Vaucluse and Bellevue Hill; all those premium suburbs are tightly held because you don’t get a lot of mortgage stress,” explains Stephen Smith, buyer’s agent and principal of SydneySlice. 

“Having said that, tightly held suburbs don’t have to be the wealthiest suburbs. They can also be the suburbs where you get people who have owned their house for 30 or 40 years or are reluctant to sell because they have a waterfront or beachfront property,” Smith says.

Yet, it’s not always the suburb as a whole that is the most sought-after. Instead, it’s an exclusive neighbourhood within a suburb that’s highly prized, whether it be Balmoral Beach within Mosman or Ben Buckler Point in North Bondi. 

“A lot of home owners that we’ve approached turn around and say, ‘well, that’s an amazing price, but we don’t need the money’, or ‘we love living here, and if we sold, where would we go?’,” says Smith.

“Another issue is, buyers trying to get into these areas are holding out for the perfect house, which may never come up.”

It’s not all about the waterfront properties, though. Suburbs like Naremburn, on Sydney’s lower north shore, also rank highly for their strong sense of community and convenient lifestyle, being close to prestigious schools, business hubs, parklands and vibrant villages. A sentiment that resonates in many suburbs across Sydney.

“Naremburn is this small boutique village, predominantly low-rise with period architecture. It has parks and ovals, yet it is so convenient to the city and North Sydney,” says Justin Brown, the group managing director of Abadeen.

So, what are buyers to do when they want to call one of Sydney’s tightly held suburbs home? Both Smith and Brown state the key is patience.

“Be patient and do your homework, but most importantly, if you find a property that’s an eight out of 10, push as hard as you can to get it because you can always fix things up. People often try and find the property that’s a 10 out of 10, but you could be waiting a very long time,” says Smith.

Brown advises to patiently watch the market and be ready to act.

“As properties don’t trade that often, markets that are a little subdued, like now, are traditionally the times to act as when the market is strong, the competition is fierce, and the prices often are exponentially pushed higher,” Brown says.

Newly built developments are also an opportunity to get into tightly held suburbs, such as Naremburn’s boutique Northcote Collective. Set within a lush communal garden, Northcote Collective has one, two and three-bedroom apartments, plus village-style retail on the ground floor. To top it off is a rooftop pool and terrace.

“Small in scale and diverse in the product offering, like the village, Northcote Collective‘s architecture is more in custom to the heritage nature of Naremburn versus the glass towers in neighbouring St Leonards,” says Brown.

A sophisticated design with thoughtful detailing, this boutique collection is one of those rare opportunities to purchase in a suburb that buyers have longed to get into.

“The truth is, there are plenty of people running around with a lot of money who can’t get what they want. It all just depends on what you’re looking for,” says Smith. 

“My advice is to know where you want to live and why and be ready when the opportunity presents itself.” 

From $1,490,000

2 Northcote Street, Naremburn NSW 2065

2

2

1

View property