‘Absolutely idyllic’: Sydney suburbs homeowners never want to leave

When Royal Australian Navy rear admiral Guy Griffiths bought a house in the Sydney lower north shore suburb of Castle Cove he declared, “I’m never leaving!”

He’d spent his working life constantly on the move, including as one of the very few RAN men to see action in World War II, the Korean War and the Vietnam War, and he felt he’d found his paradise.

Erica Griffiths is selling her mum and dad’s deceased estate in Castle Cove where they lived for 44 years.Credit: James Brickwood

It was only on his death, 44 years later in March this year, at the age of 101, that he finally relinquished his hold.

“He just loved Castle Cove and his house there,” said his teacher daughter Erica Griffiths, 60, who spent her later school years, and time at university, in the family house in Castle Cove. “It’s such a beautiful, bushy suburb, close to the water and with a real community feel, that everyone loves it.

“Dad loved looking out with his binoculars to see what was happening on the water and he was a very sociable man. So he was always entertaining friends and neighbours and he’d drive to the shop for bread and milk and a newspaper, and the area has everything you need.”

The retired real admiral was by no means alone. Of all Sydney’s suburbs, new research has discovered that Castle Cove is its most beloved, with home sellers having stayed in the same home for an average of 23.7 years.

Its closest rival in CoreLogic’s longest-held stakes is Werrington County in Penrith in western Sydney, with a median of 21.2 years, followed by Alfords Point in the south at 20.3 years, Killarney Heights in the north at 18 years, and Erskine Park in St Marys at 17.9 years.

CoreLogic’s executive research director Tim Lawless says that all the suburbs where people stay in their homes the longest are usually in suburbia, 10km or more outside the Sydney city centre.

“These tend mostly not to be blue-chip areas but they’re not cheap, either, with most of them having a median price above the Sydney median,” he said. “These suburbs also have a predominance of detached houses, so they appeal to families more than singles or couples, and those households with children stay the longest.

“They’re likely to be out of the hustle and bustle of the city but are still typically well served by amenities like shops and transport and opportunities that would appeal mostly to owner-occupiers rather than younger renters.”

At McGrath Castle Cove, agent Craig Ireson says it’s easy to see why the area, with a median house value of $3,922,891, has topped the list.

“It’s absolutely idyllic and so family-friendly and there’s very, very little traffic,” said Ireson, who’s now selling the Griffiths’ four-bedroom, three-bathroom home at 105 Neerim Road, looking out to Middle Harbour, at auction for about $5 million.

“There’s also a great community spirit here as everyone knows everyone, and not many outsiders come as there’s not much rental property. Not having a train station through the middle, or a big shopping centre, is another big attribute. Instead, there are buses that can take you to the city centre in just 13 minutes, and it’s close to Chatswood CBD, yet it still has a great village atmosphere. It’s like a little sanctuary.”

The area of Sydney that’s the second-most popular, the small suburb of Werrington County, 50km west of the CBD, is more affordable by comparison, with a median value of $860,287, and is as highly sought-after. Bianca Rossetto lived in her family home there for 33 years before having to sell.

“But it’s one of those suburbs where people hang around for a long time,” said Rossetto, now an agent with Ray White Diamantidis Group. “It’s close to everything, with a local shopping centre, just a 10-minute drive to the M4 and about the same to Penrith.

“Its median value probably should be a bit higher than it is, too, because it has a lot of older detached houses that have had minimal renovation. It doesn’t surprise me that most people stay there such a long time.”

Yet being an area where people like to stay in their houses for long periods seems to have little effect on their median value growth. Castle Cove, for instance, rose 144 per cent over the past 20 years, compared with the median Sydney change of 163 per cent.

On the other hand, Werrington County increased by 190 per cent.

“Potentially it doesn’t seem to have much effect,” said Lawless. “The ups and downs of the market are smoothed out over the longer term, so there’s not a huge variation from the Sydney median.”

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