Sydney, Northern Beaches - Narrabean

[Oscar]

Searching via the net today came across a number of homes in Narrabeen, along Sydney's northern beaches.

Some of the prices being asked seemed to good to be true. Large homes on ca. 55o sq. metre blocks, 4 bedrooms, point blank views of pittwater lake and 10 minutes walk to beach - ~$1.2MM

Anyone know if these represent good value or have the prices always been in this ball park? I can see a significant increase in these prices of large family homes close to the water in years to come. Compared to prices of homes in the eastern suburbs close to water this represents incredible value - and the northern beaches is beautiful and quiet area IMO.

 

[MichaelW]

Oscar,

That's about right for Narrabeen. Its always been a bit of an overlooked suburb on the Northern Beaches. We bought our land in North Narrabeen and built a house on it. All up it cost us $650K and its a 1600m2 block of sub-tropical rainforest with views over Narrabeen Lake and through to Long Reef. We're only 800m from the lake and about the same from the beach. Its now worth $800K according to our latest valuation.

At the time we were looking at buying our land we put an offer in on a place in Carefree Road which had panoramic views over Narrabeen Lake for $465K. We got gazumped and missed it for the sake of $7K. That place is now the sort of thing your looking at for around the $1.2M mark, maybe a touch less as it was an old weatherboard house.

Anyway, yes, I reckon there's still some awesome value in and around Narrabeen, but don't tell too many people. I want it to stay that way into the next boom so I can pick up a whole swag of these sorts of properties. Build some equity into my townhouse development in Mona Vale then extract it as deposits on more blocks with potential in the area.

Cheers,
Michael.

 

[karina]

Hi Oscar,

I agree there are some great value properties in the northern beaches. I recently bought a 3 br double brick home on 550sqm in Newport, high up on the hill with awesome water views of Newport Beach for 800k.

Only problem is its so peaceful living there that I never want to come to work!

 

[MichaelW]

Hi Oscar,

I agree there are some great value properties in the northern beaches. I recently bought a 3 br double brick home on 550sqm in Newport, high up on the hill with awesome water views of Newport Beach for 800k.

Only problem is its so peaceful living there that I never want to come to work!

And I'm EXTREMELY envious...

Well done Karina,

Michael.

 

[Jacque]

Sshhhhhhhhhh........
If you guys keep harping on about how great the NB are, I'll never be able to pay cash for my pad on Serpentine at Bilgola (got it picked out already!).

Nah, forget that part of Sydney. Buy in Melbourne instead

 

[tropic]

Wow, nice spot.
How long it takes to commute to Sydney CBD?

It's way above of what I can afford.
I am just curious.

 

[FrankGrimes]

Wow, nice spot.
How long it takes to commute to Sydney CBD?

It's way above of what I can afford.
I am just curious.

40-45 minutes.. maybe more in peak, traffic is hell through Mosman and the spit. There is no trains on the Northern Beaches which is one reason in my opinion why the prices are cheaper than the North Shore and Eastern Suburbs. But it is a great spot regardless and wouldn't let that stop you.

 

[Jacque]

40-45 minutes.. maybe more in peak, traffic is hell through Mosman and the spit...

Hehe, I reckon it's faster to walk Military Rd from Neutral Bay to the Spit Bridge some days......

 

[Oscar]

Thanks for the feed back guys.

I will definitely be watching this area with keen interest. I used to spend time on the lake and Narrabeen beach as a kid and thought I'd look up what a decent shack is worth close to both. Unbelievable!

Yes, let's keep it quiet and amongst ourselves.

Moderators, please delete this entire thread!

 

[Glebe]

There was a strong chance earlier this year that the NSW Liberals would win the next election, now it seems like they're outsiders again.

That being the case, the chance of a railway line to Chatswood or a tunnel under the Spit looks a long way away unfortunately.

 

[karina]

I avoid the spit bridge all together. From Newport to Nth Sydney its about 45-50 minutes via wakehurst parkway, warringah road (less if not peak time)

 

[MichaelW]

I avoid the spit bridge all together. From Newport to Nth Sydney its about 45-50 minutes via wakehurst parkway, warringah road (less if not peak time)

Ditto.

From North Narrabeen to Chatswood via Wakehurst Parkway and Warringah Road takes about half an hour. 20 minutes during school holidays.

It does take about 45 minutes on the L90 bus from Narrabeen to Central though for the CBD workers commuting. Mind you, Palm Beach represents the highest concentration of "work from homers" in the entire country. Sounds like a plan to me!

Cheers,
Michael.

 

[FrankGrimes]

Mind you, Palm Beach represents the highest concentration of "work from homers" in the entire country. Sounds like a plan to me!

Cheers,
Michael.

I second that, I wish employers would be more open to working from home. Especially with rising petrol prices and people living further away. I can do far more work at home with less distractions.

It is happening more and more in Japan and the US. But here it doesn't seem to be happening.