Real estate sales booming in Sydney beachside suburb of Tamarama
This obscure and oft-forgotten Sydney suburb offering the ideal beachside lifestyle is making a new name for itself.
An obscure and oft-forgotten Sydney suburb offering the ideal beachside lifestyle is making a new name for itself amid massive sales leading into summer.
Tamarama has long been the lesser known neighbour of Bondi.
But with prices up to a record $16.5 million in 2021, there have been 11 Tamarama sales above $5 million so far this year, compared with 10 during 2020.
Located 6km east of the Sydney CBD and just 1km south of Bondi Beach proper, Tamarama, which was once the site of an amusement park named Wonderland City and the Bondi Aquarium.
Today the suburb’s most recognisable landmark is Tamarama Lifesaving Club, which sits on the northern end of the beach overlooking the sand. It is one of the first lifesaving clubs established in the world and has featured in a number of TV commercials.
The small suburb of just 0.3 sqkm boasts only 1,622 residents.
Making it far more exclusive than Bondi – suburb population of 10,045 and Bondi Beach’s 11,656 residents on 1.22 sqm, a suburb four times bigger than Tamarama.
Fashion designer Wayne Cooper’s Tamarama home is the latest top end home to hit the market in the suburb.
It has been relisted after it went unsold with $10.5 million expectations back in April.
The new price guide is now $13 million for the five-bedroom, five bedroom Carlisle Street property.
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The rising price expectations of Cooper and model Sarah Marsh, the downsizing 1990s glamour couple, apparently came after a recent bullish sale in the coastal neighbourhood.
It was the unconfirmed $16.3 million Silva St sale by PPD agent Alexander Phillips of a whitewashed house marketed as “channelling the relaxed ambience of the Balearic Islands” sold by Bank of America equities head Peter Phillips and wife, Susie.
Cooper secured his home for $5.5 million in 2011, less than the $6 million it fetched in 2009.
The latest settlements shows ragtrader Ray Pillion spent $14.5 million on his acquisition.
Another Tamarama home with an association with a 1990s glamour couple ranks among the recently sold.
The Atlasssian chief-of-staff Amy Glancey spent $9.3 million on the former abode of model-turned-fashion-designer Gail Elliott and her husband Joe Coffey.
They sold in 2008 for $4.82 million.
Tamarama has median dwelling price of $8.625m for houses, and $2,298 for units.
That sits against Bondi’s median house price of $3.462m and median unit price of $1.25m.
In Bondi Beach, the house median is $3.6m and for units it is $1.336m.
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Originally published as Real estate sales booming in Sydney beachside suburb of Tamarama
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