Cheaper alternatives to dream Sydney postcodes where you can save up to $5 million

Just next door to some of the Harbour City’s most prestigious suburbs are often overlooked areas where buyers can find a home for half the price. Search your area.

Sydney property hunters could pay up to $5 million less for buying a few kilometres away from their dream location.

Alternatives to some of the more popular postcodes across NSW have emerged, revealing some surprisingly large price differences for buying down the road.

PropTrack has released research data which looks at areas with more affordable prices than their neighbours, along with good amenities and improving infrastructure.

The data has revealed some of the biggest price discrepancies across the eastern suburbs and northern beaches in Sydney.

Property hunters looking to buy in Bellevue Hill could save more than $5m if they headed over to the nearby suburb Bondi Junction which has a suburb median price of $2.35 million.

Buying in North Balgowlah, compared to nearby Clontarf, could save you $2.1m while choosing Narraweena over Curl Curl reduced the average price by $1.7m.

Porters House buyers agent Claudia Brooks works across the northern beaches, having grown up there with a passion for property.

The 24-year-old bought her first home at the age of 22 and recently nabbed her second home along with winning the Real Estate Institute of Australia Achievement Award 2023.

Ms Brooks said they were currently seeing a “ripple affect” across the northern beaches with people who would traditionally look at Manly and Curl Curl tuning their attention to surrounding suburbs inland.

Buyers Agent Claudia Brooks. Picture: Tim Hunter

“There’s an influx of people wanting the northern beaches lifestyle drivers but they are priced out by the beach,” she said.

“The perception of the northern beaches was living close to the beach but people are realising to own a family home on the beach is incredibly challenging. The surrounding suburbs are growing and still have those lifestyle drivers.”

She said North Balgowlah had a lot of renovated homes and was popular with young families.

“It has great schools, is 3km from the Spit Bridge and also five minutes from Manly Beach yet out of the hustle and bustle,” she said.

Ms Brooks said Narraweena had also been growing rapidly due to people being priced out of Dee Why and Curl Curl with families looking to upsize and chasing bigger blocks over 800 sqm.

Brookvale also emerged as a more affordable northern beaches option, with a saving of $1.5m compared to Freshwater.

The northern beaches has seen a “ripple affect”. Picture: John Appleyard

The brewery and restaurant scene has grown in popularity over the past few years in Brookvale. Picture: Tim Hunter.

“Brookvale has seen a really big redevelopment over the last couple of years,” Ms Brooks said.

“Breweries and restaurants are popping up and you struggle to find a seat in a local brewery on a Friday or Saturday night. It’s also been interesting to see restaurants opening second venues in Brookvale to capitalise on the popularity of the breweries.”

She said it was seen as a good entry level suburb for first home buyers with plenty of apartments without the northern beaches price tag.

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Properties in Lane Cove, Canada Bay, Waverley, Normanhurst, Beaconsfield and Eastern Creek also offered better value than comparable houses in neighbouring suburbs.

The Agency’s property partner Chris Cantarella said Beaconsfield had grown considerably over the last five years. The small inner southern suburb of Sydney has a median price of $1.3m, according to the PropTrack research, which has been compared to Kensington at $3.5m and just 2.5km away.

1/62 Victoria Street, Beaconsfield is for sale for $1.3m.

78 Ronald Ave, Lane Cove is for sale with an auction guide of $2.8m.

“Beaconsfield is growing quickly and has Green Square for transport, Gunyama Park Aquatic and Recreation Centre, coffee shops and good vibes,” Ms Cantarella said.

“There’s a great village feel there and it’s close to everything.”

Ms Cantarella said home buyers usually stay in the suburb for a long time, while there was also a lot of young people moving to the area in recent years.

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PropTrack’s director of economic research Cameron Kusher.

Price discrepancies across regional NSW saw Windale a cheaper buy compared to Redhead in Lake Macquarie, while the Riverina town of Ashmont was a saving of $1.1m compared to Springvale.

PropTrack’s director of economic research Cameron Kusher said the data looked at where you can buy near somewhere expensive for a cheaper price point.

“The results are quite surprising,” he said.

“It’s generally moving from somewhere on the water to somewhere further away from the water,” he said.

“It can also be seen in areas which have gone through a lot of gentrification. That can make a big difference.”

Mr Kusher said the data was an interesting guide for buyers who may not be prepared to pay higher prices for certain suburbs, however can think about other suburbs close by.