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City girl thoughts :)

Discussion in 'Real Estate' started by Jacque, 14th Jan, 2006.

  1. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    After just returning today from a week at Avoca (Central Coast of NSW: about 75mins drive from my home) and doing the usual real estate window stickybeaking (can't help myself) and gawking at all the expensive beachfront homes whilst there, I've come to the conclusion that some of these towns are still way overrated when it comes to real estate prices.
    There are several examples of falling prices and seemingly every street has a property or two for sale. Local papers refer to the "slowing down" of the cycle, and even today's SMH Domain featured an article on affordable coastal units, prompting readers that now is the time to buy buy buy.
    (Yes, I know they have a slightly vested interest!)
    However, I was still surprised by the prices that have been recently achieved. A pretty swanky white beachfront home on Avoca Drive (land around 700sq) recently set some type of record; selling for over $5 million.
    I walked past it every day on my treks to the beach- it's lovely, right on the beach with its own private access, and passers-by have a lovely view right into the fishbowl style living room downstairs. The turf is green and lush, the building pristine looking and I'm sure it presents a world of delight to its owners. It sits alongside several other homes, some renovated, some not, but all in need of regular window washing to keep that nasty salt and spray off all that glass :)
    But I digress...........!
    I am rather fond of Sydney's beaches, in particular the Northern beaches. The dream one day is to retain a house or unit with a spectacular view, a sensational sundrenched deck and a life's supply of high quality afternoon drinking wine so as to enjoy it :)
    Something like this would probably suit me just fine.....
    http://www.realestate.com.au/cgi-bi...0&p=10&t=res&ty=&snf=rbs&ag=&cu=&fmt=&header=
    But, then again, by the time I finish reading the entire ad it will have probably sold anyway :)

    Anyway, back to Avoca. Maybe I'm just too much of a city girl, but what is the enormous attraction? I enjoyed the break, but if I lived there, the holidaymakers would drive me crazy!! Surely true beach and waterfront lovers could get better value for their money by buying something closer to Sydney for the same money? Like this.....
    http://www.realestate.com.au/cgi-bi...0&p=10&t=res&ty=&snf=rbs&ag=&cu=&fmt=&header=
    Then again, it's not beachfront, only waterfront. Not the same, I guess...

    We stayed in a shack on the Drive, as it's known by locals. Shabby chic, or something like that. More like a true shack actually :)
    The daytime was fine, but boy was 3am a different story! The last two nights we had the neighbours from hell, playing deadbeat heavy metal, lighting flares from the deck and generally waking up half the town with their noise and general obscenities. I can only imagine the joy the locals must feel when peak season is over and life can return to (somewhat) normal.
    My thoughts were also with the poor landlord, who will soon inspect a scorched deck and God knows what other damages to the home. By the sounds of the furniture throwing going on, I'm sure things won't exactly be pretty.
    I knew there was a good reason for not moving to a "sea change" coastal town too soon.....
     
  2. Jenny

    Jenny Well-Known Member

    Joined:
    15th Aug, 2005
    Posts:
    103
    Location:
    Canberra
    Hope you had a great holiday Jacque.

    5 million at Avoca :eek: :eek: Perhaps for a whole street of beach front properties, but just for 1 :confused: I checked out your Sydney beaches dream properties and much preferred the "gentlemans's Residence", with a much more reasonable price tag than the Avoca property. But Jacque it's always amused me this tag of gentleman's residence - being a loidy myself how can one possibly qualify to purchase :D

    cheers (literally, I'll join you in the afternoons to help you drink that lovely quality wine)
    Jenny
     
  3. MichaelWhyte

    MichaelWhyte Well-Known Member

    Joined:
    5th Oct, 2005
    Posts:
    798
    Location:
    Sydney, NSW
    Jacque,

    Shhhh! :)

    Don't tell everybody about the value in the Northern Beaches. Our place at Narrabeen has views over Narrabeen Lake and through to Long Reef. We're on 1500m2 of sub-tropical rainforest and we love it. And its only valued at $800K.

    We want to trade up to something with deep water frontage on Pittwater so I can put my yacht of the future on my pontoon and just step on and cast off whenever I want. The one you linked is a nice example of the sort of thing I'd like and they're still quite affordable. A couple of million will still get you waterfrontage.

    I'd like to have it prior to the next boom so have a couple of years yet to find the right one...

    I agree, Avoca is over-priced.

    Cheers,
    Michael.
     
  4. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    I hear what you're saying with the Northern beaches, Michael, and I'm in full agreeance. I assume the distance from the CBD and the lack of a railway line prevents prices from escalating further.
    The Eastern suburbs will always command higher prices, due to better infrastructure and proximity to the city. But I still prefer the northside beaches. Actually, Serpentine Drive at Bilgola would be my ideal pick :)