By Munro Donen, Principal Buyers' Agent & Director, Propertybuyer East
Sydney’s Eastern Suburbs appeal to a wide cross section of buyers. While it’s true we have diverse property options, those wanting a quality home still need a sizeable chunk of funds at their disposal. The Eastern Suburbs market could be the most resilient market in Australia with a strong history of capital growth.
There are many reasons buyers might choose to purchase property in Sydney’s most recognisable beachside suburbs, such as Bondi or Coogee. They have popular name recognition and are often used as examples of the ideal “Aussie beach lifestyle.”
But when you understand the market like I do, the fact is these locations aren’t necessarily Sydney’s best beachside property hotspots. Bondi can be overrun by tourists and backpackers. Finding a carpark anywhere near the water is incredibly difficult most times of the day. Real estate is also eye-wateringly expensive and the available services and facilities for everyday family households aren’t substantially better than in many other suburbs.
I’m now seeing a shift in families and aspirational professionals looking to buy homes and investments in another area – Sydney’s southeastern beaches.
These locations offer all the benefits of the beach lifestyle with excellent community services and facilities but without the downsides of overcrowding and ultra-expensive real estate.
There are a few locations worth tracking here.
For example, Maroubra carried the stigma of being an unpleasant place to live for many years. While it always had a beautiful beach, things like the Bra Boy culture kept many family buyers away.
But that really has changed in recent years. In fact, the line of perception between South Coogee and Maroubra has become fuzzy and more people – especially family buyers – have discovered how wonderfully Maroubra has evolved.
Maroubra is an affordable alternative to the beaches north of it. A waterfront home in Coogee can be priced up to $20 million. You could get 10 to 15 per cent better value by buying in Maroubra.
Maroubra is also well-serviced with public transport, shopping and many other appealing lifestyle options like restaurants and cafes.
Matraville and Malabar are other terrific locations that don’t get nearly as much exposure as other Sydney suburbs. They have a village feel with a coastal lifestyle.
These are very much what I like to call bridesmaid suburbs– they’re then up and coming brides.
There’s a range of housing options here to suit most budgets, from free-standing homes and townhouses, through to designer duplex homes and traditional family homes. Matraville also offers larger properties, often with gardens and pools and outdoor space , making it a good choice for people who need more room but still want to be close to the city.
The Matraville median house price is $2.665 million and has increased 8.4 per cent in the past 12 months (as at the time of writing according to realestate.com.au).
Matraville borders Malabar and Maroubra, sitting just a little inland from the shoreline.
East Matraville is prime property that is the part of the suburb closest to Malabar beach.
Because it doesn’t have a direct beach frontage, houses offer better value. I’ve been buying more homes for family buyers in Matraville lately because of its easy access to beaches and its extensive services and facilities. I recently purchased a home for a buyer who said he loves being within four kilometres of six beaches!
The other gem in the Matraville and Malabar area is the national parklands – especially beachside parklands. Malabar Headland National Park is adjacent to Matraville. Malabar to Maroubra and Little Bay to La Perouse along the clifftops provide open green spaces for walking, jogging, or sports activities too.
There are not many other places where you can enjoy a nature reserve on the water in an idyllic area, and all within a reasonable 20-to-25-minute commute of a world-class city centre like Sydney’s.
There’s also easy access to excellent schools and shopping in Matraville, such as Westfield East Gardens. The suburb has a Woolworths and convenience stores, and the adjoining suburbs of Malabar and Maroubra offer comprehensive shopping too.
Living in Matraville also means you're not far from employment hubs in the city or eastern suburbs, with access to commercial centres like Maroubra Junction, Botany and Alexandria. The proximity to the airport can also be a draw for people working in the travel or aviation industries.
The southeast beaches area really is a great spot. You just get the best of all worlds here. If you do want to spend some time in more “buzzy” locations, you can of course. Bondi is just 20-minutes’ drive. That’s nothing in Sydney where it can take 30 minutes to travel just a few blocks. Public transport options include buses along Anzac Parade, and the Sydney Light Rail which runs from Juniors Kingsford to the city. Just a short drive to the station where there’s plenty of parking and hop on the light rail for an easy trip to the city in around 30 minutes.
The southeast beaches have great locations that are really coming into their own – particularly among young couples from more affluent suburbs. They’re leading the discovery of this region which is helping drive gentrification along with the demand for property.
On the southeast beaches you get everything you want along with so much more value for so much less buck.
Looking to take advantage of this idyllic lifestyle? Reach out to me and let’s have a chat.
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