The north shore’s most loyal suburbs — everyone wants to move into them, but no one wants to leave.
THESE are the north shore’s most loyal suburbs — the tightly held postcodes that everyone wants to move to, but no one wants to leave.
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THEY are the north shore’s most loyal suburbs, the tightly held postcodes that everyone wants to move to, but no one wants to leave.
Statistics from CoreLogic RP Data have revealed a number of suburbs where the average time spent in the same home well outstrips the rest of Sydney.
Wollstonecraft was the clear leader, with house owners staying put for an average of 14.3 years, 4.5 years longer than the Sydney dwelling average.
Robert Holmes, of Ray White Lower North Shore is selling a three-bedroom apartment at 34/1-11 Bridge End; one of only 19 properties currently on the market in the suburb.
“People see value in the harbour foreshore location, accessibility of transport and the proximity to Crows Nest’s emerging cafe and restaurant hub,” Mr Holmes said, adding that one of the key factors separating Wollstonecraft from other suburbs is its appeal to both families and investors.
“Families have major exclusive schooling options, the foreshore parks and recreational options,” he said. “There are also quiet leafy pockets.”
One family that can attest to the suburb’s charms is that of former Prime Minister John Howard, who has spent 41 years in the suburb — minus a handy 11 or so years over at Kirribilli — since purchasing his home on Milner St in 1974 for just $54,000.
While leading the nation, Mr Howard’s house grew considerably in value and that growth, along with the suburb’s rental demand, is what also has investors holding their properties tightly.
“Rental yields have been increasing,” Mr Holmes said. “The suburb has the lowest vacancy rate on the lower north shore and renters love the location and the convenience.”
The next most loyal suburbs were East Lindfield and Castle Cove, where residents held for an average of 13.3 years, followed by Longueville and Lane Cove West, at 13 years and 12.8 years respectively.
Belle Property Lane Cove Principal Simon Harrison is currently marketing the only four houses on the market in Lane Cove West.
“Lane Cove West is the quintessential family suburb,” Mr Harrison said. “People love its quiet streets, great local school, shopping village and Blackman Park. It is full of charming cottages and large modern homes.”
Suburbs with strong long term growth are more likely to withstand a bubble burst
Gordon, Chatswood West, Northbridge and Riverview each had average hold periods of more than 12 years.
Marika Mayhew and her family have lived in Riverview for 15 years.
Marika says the suburb offers both a wonderful sense of community and an impressive collection of shops and services within an easy walk.
“We like it here because it’s a small, tightly held suburb,” she said. “There’s not a lot of properties that turn over and that makes it a little bit more special.”
An added advantage is having her sons’ school, Saint Ignatius’ College, just around the corner.
“To have the luxury of a premier school like that on your doorstep is fantastic,” she said.