The northern beaches suburb of Avalon Beach is enjoying a surge of sales as Sydneysiders compete for holiday homes and working from home houses close to a beach and lively village.
Agents say the selling buzz is palpable and the village is full of inner city couples hugging their coffee determined to buy in the laid-back suburb full of creative types.
More than 40 properties have sold in Avalon Beach since mid March, some have sold in a matter of days, one property generated 28,000 online hits in one day and the top price paid was $3.6 million.
Stephanie Hammond, of Shores Real Estate Avalon Beach, said she is canvasing calls from young couples and professionals keen to move out of the inner city and into a beach suburb with a character home and a block of land.
“The vibe is palpable,” she said.
“People are realising they don’t need to live in the city anymore, COVID-19 has changed everything,” she said.
A young couples in their 30s were chasing a character home in Bellevue Ave on 1213sqm of land last week and are a typical example of what is happening in Avalon Beach. These successful young professionals are seeking out something different, quirky and a home that offers a lifestyle different to the inner city crush, Ms Hammond said. The distinctive home in Bellevue Ave sold after 41 days on the market for $2.5 million, although not to the young couple.
One of the suburb’s most remarkable and historic homes, Moon Lodge, sold in just 16 days for considerably more than its $3.1 million guide. The heritage-listed log cabin at 53 Hudson Pde was due to be auctioned on Saturday June 13 but sold early to an inner-city family who were looking for a holiday home.
James Baker, of McGrath Avalon, said the couple fell in love with the circa 1932 home after the first inspection but they had competition with three other determined buyers.
“We had 120 groups through the property and one day there were 28,000 online hits.
“The trend I am seeing is a real resurgence of interest in the area. We have had strong inquiry from people wanting a holiday home, and one with easy access rather than say on Hamilton Island, and from people wanting a quiet location, safety and lifestyle,” Mr Baker said.
“Employers are realising that work can be done anywhere and their business can reduce costs if staff work from home, we now have NBN in Avalon Beach and having been forced into the environment people will be working more from home,” he said.
Avalon Beach and its surrounding suburbs have seen a swag of cool bars and restaurants open in the last seven to eight years.
“There are now enough places for people to go out for cocktails and dinner, people are coming here for lifestyle,” he said.
Mr Baker sold a five-bedroom home in Dress Circle, Avalon for more than $2.75 million to a couple working from home and sold a home in Watkins Rd for $1.9 million. He also sold 151 Queens Pde East, Avalon Beach although that sales price is confidential.
“I think we are in a little bubble,” he said.
“There is no stock up here and good demand. It is a great time to sell,” he said.
And the bubble may be a winter one. Mr Baker said once the Jobseeker payments stop in September and the market feels the lack of the 200,000 annual migrants who settle in the country the market may significantly slow down.