Why well-heeled locals in Bellevue Hill 'just don't want to sell' their trophy homes

If Bellevue Hill was a stock, it would definitely be a “buy and hold” recommendation, says local Richard Coppleson, a stock market commentator and author of the highly regarded Coppo Report.

Coppleson, who moved into the suburb 13 years ago, says there’s not a lot of turnover in the leafy harbourside enclave and he had to call on deep reserves of patience to secure the right property.

“Once you move in there, it’s such a great place people just don’t want to sell,” he says. “When we were looking it took us two to three years to find a place. We had looked at every suburb and thought this is it: it’s a really wonderful area. I had a good idea of what I wanted to buy but I had to wait and wait.”

Location, location

A major drawcard for Coppleson was the suburb’s centrality. Just five kilometres east of Sydney’s CBD, Bellevue Hill is bordered by Double Bay, Rose Bay, Woollahra and Bondi.

“It makes it quite a unique place to live,” Coppleson says, pointing out it’s rarely more than 10 minutes to get to amenities, including the world-famous sands of Bondi Beach, designer shopping at Bondi Junction and fine dining at Double Bay.

Agent Elliott Placks, a director at Ray White Double Bay, says he moved from Bondi to Bellevue Hill with his wife Lauren and three children four years ago for the suburb’s centrality and its larger blocks, both of which provide plenty of space for the kids to run around.

With a minimum lot size of 675 square metres and minimum setbacks of 1.5 metres, buyers can expect to find both space and privacy in this hilltop community, with a notable absence of traffic.

“Because it’s not a thoroughfare it’s a quiet suburb so you don’t get the cars, the bikes and the sirens that you get elsewhere,” says Coppleson. “We moved here from Kings Cross and we immediately noticed how quiet it was.”

High-end homes

Claiming a spot in Australia’s top 10 richest postcodes (based on ATO data) and with a median sale price of $5.3 million, Bellevue Hill boasts some of the country’s most expensive real estate.

The sandstone mansion Rona in exclusive Ginahgulla Road sold in August last year for $58 million and 84 Victoria Road sold the following month for $30.5 million.

“We’ve seen some really large estates traded, but if you look at those homes, most have been held for 15 to 20 years,” says Placks. “So if there’s an opportunity to buy a beautiful land holding in Bellevue Hill, I wouldn’t be waiting because they’re generally few and far between.”

Top home in the area

A study in casual elegance, this two-storey home ticks all the boxes for relaxed family living.

There are three distinct living zones, a gas kitchen with Wolf appliances, a generous home office and manicured gardens with a north-east facing pool.

It goes to auction on August 29 through Ray White Double Bay and has a price guide of $10 million.