The big four of the eastern suburbs beaches, Bondi, Bronte, Clovelly and Coogee are known for the lifestyle appeal and beautiful scenery but, if you’re looking for somewhere a bit quieter but still close to the action, South Coogee fits the bill perfectly. Traditionally, buyers have gravitated to the big four but the coronavirus pandemic has accelerated a trend that’s been in the works for a while with the more secluded spots along the coast in increasingly in demand. Hugging the coastline between Coogee and Maroubra, South Coogee is home to not only some magnificent homes and larger block sizes but its cliffside setting affords truly spectacular views across the Pacific Ocean.

Doreen Wilson has listed a remarkable property at 44 Wolseley Road opposite the South Coogee stairs that takes you to a choice of beaches with 180 degree views over Wedding Cake Island and Coogee Beach to Bondi. Doreen says, “There’s really nothing else quite like this property on the market. The views are spectacular and will never be built out but the design is equally as inspiring and can be easily adapted to suit. Currently configured as three private residences, there’s a two-storey main home, a penthouse-style top floor residence and a self-contained studio flat all on one title. You can live in one and rent out two, have plenty of space for multi-generational family living or reconfigure the layout into a sprawling tri-level home and it’s been built to make that incredibly easy to do.”

If its beach life you’re after, Zach Carter has listed a cracking two-bedroom apartment at 11/50 Carr Street, Coogee which is 100m to the sand and surf. The renovated two-bedroom Art Deco flat would also make a top investment as it’s footsteps to beach bars and cafes giving it huge appeal for the short and long term rental market. And, if you’re looking to enter the market, check out Vince Licata’s listing at 12/1A Leeton Avenue, Coogee. The two-bedroom apartment comes with parking on title and with a price guide of $800,000 offers exceptional value so close to the beach.

Investor Market Update From Our Property Partner
How is the investor market performing in 2021? Theo Chambers from Shore Financial says, “Mortgage demand from investors has dropped off substantially across Australia. It usually sits at a third of all mortgage approvals but is now at 23% nationally. Investors are sitting on the fence at the moment. Right now, you would be lucky to find an investment apartment giving you 3% gross rental yield which is not that attractive. It is likely that investors are also putting their funds into improving their primary residence.

Especially as work-from-home arrangements have increased in popularity, homeowners are placing more importance on their family home. And this is a great idea as it’s one of the only tax-free wealth generation strategies available in Australia, as there are capital gains exemptions on primary residences. Although property investment is not as attractive as usual, it is still holding far stronger than other investments such as stocks, which have been volatile throughout last year. Australians are still keen to invest their money in bricks and mortar, something tangible. It’s far safer and more predictable than other investments.”