More young Sydney families shun inner city suburbs for Avalon value, say agents

The northern beaches suburb of Avalon is reporting a major influx of young families from the eastern suburbs, the inner west and lower north shore in search of cheaper homes, a bigger slice of land and a more relaxed lifestyle.

And while it might be a 50-minute drive off-peak to the Sydney CBD – which can stretch to around an hour and a half in peak time – that’s a compromise many seem happy to make.

“There is a reasonably large price difference, so they’re moving up here either to reduce their mortgage or to buy a better home for the same money,” says McGrath Avalon agent James Baker.

“For the price of a three-bedroom terrace in somewhere like Balmain, you can buy a four-bedroom house with a pool and a partial water view on 800 square metres, Baker says.

“We’re now seeing a lot of young families with maybe one child or planning to have a second who are moving up from the inner suburbs as they need, and want, more space.”

An incredible 90 per cent of buyers of Avalon property are now from Sydney’s eastern suburbs, inner west and lower north shore, with a few from the upper north shore and even its north west, reveals LJ Hooker Avalon agent Andrew Mappin, who believes affordability is the main driver.

With the Avalon median house price now at $1,685,000, according to Domain Group figures, there’s still a fair amount of property both below, and above, that average.

“I think what you’d buy here for that median would cost between $2 million and $2.5 million, say, in the inner west,” Mappin says.

“But you can also have a really lovely lifestyle here, too. Avalon has a nice clean feel to it, the beach is gorgeous and there’s the very nice little village, and good schools.”

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Mappin is selling 82 Cabarita Road, Avalon Beach, a renovated two-level beach house with a north-east aspect and with stunning views of the water.

With timber decks off the master bedroom and at both the front and back of the upper-level living areas, there are beautiful panoramas of the Pittwater from most of rooms.

The home, which would be perfect for either permanent living or a holiday home, is on an elevated 920-square-metre site off a tree-lined private road, and has direct, level access to the water. Inside, it has polished timber floors, open-plan living and dining areas, a spacious eat-in kitchen with Corian benchtops and steel appliances, and bathrooms with Italian tiles and underfloor heating.

“It’s a lovely home with great grounds and a lovely view,” says Mappin. “It has a lot of appeal.”

The Cabarita Road property is priced over the median at $2,275,000. However, it shows the kind of quality of the houses available, being on the edge of Careel Bay, on 920 square metres, with beautiful views across Pittwater.

As well as the influx of young families, downsizers are also heading to Avalon – often to buy less expensive homes, and putting the saving into super or into travel plans. They’ve helped fuel a recovery in the market that had previously been a little soft, says  Dr Andrew Wilson, Domain Group chief economist.

“Avalon came roaring back last year and is now particularly strong,” Wilson says. “It was in the doldrums for a while but it can still offer remarkable value considering it’s on the pointy end of the northern beaches and has significant cachet.”

During the past six months, house prices in Avalon have risen by 8.9 per cent and by 8.4 per cent during the past year. There has been a 71.5 per cent improvement during the past five years, with the highest-priced house selling for $7.15 million and the cheapest for $1.09 million. Apartments have a median price of $765,000, which has increased by 12.5 per cent during the past six months.

Buyers are also encouraged by improvements planned for the public transport system, with a new bus rapid transit station under construction in Mona Vale and investigations continuing into the possibility of a tunnel for northern beaches commuters to bypass the Spit Bridge.

“A lot of people now have home offices, too, which means travelling into town isn’t a problem,” says Lyndall Barry, an agent at Andrew Blake Real Estate. “Working from home all of the time, or part of the time, is becoming much more commonplace.”

Besides, the pluses of Avalon far outweigh the negatives, argues Greg Griffin of Belle Property Avalon.

“It’s a pretty amazing landscape here and the quality of beaches and bays is world-class,” Griffin says. “The area’s also very safe and far more relaxed for a family.

“Comparing living here with living in the inner west or eastern suburbs … it’s like chalk and cheese.”

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