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Why ‘Downsizers’ love these 3 Eastern Suburbs

The downsizer market is booming right now – and is only set to get bigger. Bondi, Double Bay and Rose Bay are three locations popular with downsizers queuing to buy suitable properties. Developers are eyeing this market as a major trend that’s unlikely to slow down any time soon.

By Barry & Mark Goldman

Like many in the Western world, Australians are living longer, so there’s an increased number of those in the market to downsize. Many older couples have had years of building up capital in their properties, their children have left home and they’re looking forward to the next stage in their lives – and this often means downsizing.

Many empty nesters want to release equity to help their children move onto or up the property ladder. It makes sense to sell their large family homes and look for something – and somewhere – different where they can enjoy the years ahead. This combination of an ageing population with a healthy amount of capital in their properties has led to an upswing in downsizers looking to move to suitable properties and locations.

The trend has also been boosted by a recent government tax incentive for downsizers over 65. They can now contribute up to $300,000 per person into their superannuation by releasing equity from selling their family home.

Importantly downsizing doesn’t mean downgrading. Generally, prosperous downsizers still want to live in stylish, premium properties – just more bijou and more conveniently located. Harbour or beachfront locations and a community feel, with easy and level access to amenities and facilities, are top of the wishlist.

STEP FORWARD IN THE EASTERN SUBURBS

With lifestyle generally the number-one priority for downsizers, the eastern suburbs can offer that in abundance. Wealthy downsizers considering these locations are active, sociable and want a great lifestyle – so it’s no surprise that the stylish waterfront locations of Bondi, Double Bay and Rose Bay are particularly popular amongst downsizers.

These suburbs all have wonderful waterside appeal, excellent travel links to the city and healthcare facilities, myriad sporting opportunities, and a cosmopolitan restaurant and shopping scene.

Many of those relocating here will be particularly keen on multi-residential developments that also house amenities like pools, gyms, retail and dining spaces. Whether they are looking for purpose-built, luxury retirement complexes or spacious boutique developments, there is plenty to choose from here. Key priorities tend to be single-level living, lift access and excellent security.

Reduced mobility or wheelchair use is also a consideration, if only for the future, so level suburbs such as these three, with easy access to facilities, are extremely attractive to this market. It’s easy to walk to supermarkets, shops and restaurants in all three of these prestigious eastern suburbs locations.

SPOTLIGHT ON BONDI BEACH

Bondi Beach Lifestyle

The iconic Bondi is of course a fabulous place to spend your footloose years. Just a 15 minute Uber to Martin Place, it’s easy to get in and out of the city. Those-in-the-know from Vaucluse, Dover Heights, Bellevue Hill and surrounding suburbs often spend their weekends in nearby Bondi, eventually choosing to move there when they downsize from the big family home.

Downsizing doesn’t have to mean taking to the couch. People here love to stay fit – and who wouldn’t, with gorgeous sandy beaches and sandstone cliffs stretching for km’s on either side. Residents can take their pick of jogging, swimming or running along the beach, or take a stroll along the sandstone cliffs, watching out for whales.

With more time for hobbies, golf enthusiasts can enjoy the game and the views at Bondi Golf & Diggers, which boasts incredible panoramas over Bondi Beach, the city and the coastline.

Eating out is one of the many attractions at Bondi. Award-winning restaurants that make the most of the views are all easily accessible, offering fresh seafood, healthy breakfast spots, fine-dining and casual eateries. Foodies will also love the Saturday farmers’ market, overflowing with healthy, seasonal produce.

Those who love to spend some of their new down-time shopping will find plenty of opportunities, with premier fashion boutiques lining the streets behind the beach, from the best of Australian designers to international labels.

SPOTLIGHT ON DOUBLE BAY

Double Bay - Lifestyle

Image curtesy of The Terraces Paddington

Moments to the city by ferry or taxi, the fashionable harbourside suburb of Double Bay offers many attractions popular for downsizers.

Many downsizers drawn to the eastern suburbs are prosperous professionals in their 60s and above who love to eat out. Double Bay’s cosmopolitan dining scene would please the most discerning diner, whether they’re looking for a relaxed café, a high-end dining experience or anything else in-between.

A major drawcard is the fabulous Woolworths store, one of the best in the entire Southern Hemisphere. Its chilled walk-in fromagerie has to be seen to be believed, stacked high with cheese from all over the world.

Downsizers can keep fit and relax at the tranquil Murray Rose Pool, a tidal pool with beautiful views over the harbour. It’s a terrific place to meet like-minded people and enjoy a swim, sunbathe or a spot of lunch at the The RedLeaf Pool Café.

There are plenty of high-end boutiques on level streets for those who like to spend time shopping – this suburb is brimming with the most desirable local and international brands.

SPOTLIGHT ON ROSE BAY

Rose Bay Lifestyles

Image curtesy of Catalina Rose Bay

Rose Bay also ticks all the boxes for downsizers, with a variety of housing options, level shopping villages and a great dining scene. This attractive harbourside area is just 7km east of Sydney’s CBD, with a regular ferry that takes around a quarter of an hour to the city.

There’s a beautiful beach which is especially popular with dog-lovers, where dogs can run off the lead to their heart’s content. Its shallow water also makes for excellent swimming – which isn’t the only waterside activity that’s popular here. With seaplanes, sailing, kayaking and speed-boating all readily available on the doorstep, active downsizers can really make the most of their later years here.

Foodies flock to Rose Bay for the iconic Parisi greengrocer and deli, founded by Tony and Bob Parisi who migrated from Italy. This upmarket fruit, vegetable, flower and gourmet grocery shop is renowned for its exceptional produce and upmarket ambiance offering an unrivalled shopping experience.

There are also plenty of stylish restaurants to choose from in Rose Bay, many of which make the most of the stunning waterfront location, like the world famous Catalina and the Regatta Restaurant & Bar, both of which offer modern Australian dining with a focus on fresh Sydney seafood.

With so much to enjoy and so many of the desirable attributes downsizers are looking for, it’s little wonder that these three eastern suburbs are increasingly popular with downsizers. We’re finding it’s a blend of both those who are new to the area altogether, and others who’ve spent weekends and holidays in the area for years, who are now keen to relocate here and spend more time in these idyllic and accessible locations.

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  • Posted by The Goldman Brothers
  • On October 19, 2020
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Tags: Downsizing, Eastern Suburbs, Real Estate, Residential Property, Sydney, Sydney Sotheby's International Realty
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Opportunities like this don't come along very ofte Opportunities like this don't come along very often. An entire block of 8 strata apartments in the heart of Bondi Beach. A well maintained Art Deco building, 'Milton Hall' at 50 Roscoe Street presents an incredible investment and/or development opportunity.
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For further info click on the link in our bio. 
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We love getting feedback from of our clients. For We love getting feedback from of our clients. For this wonderful family in Bellevue Hill we both sold them a home and then sold their home. They experienced our services as both a buyer and a seller.
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"We experienced Mark as both a seller and a buyer. He was consistent in the service he provided from either end (which in itself is very unusual). He presented himself very well, always polite and respectful, pursuing interests with honesty and integrity. We would have not gone ahead with this buy-sell move in such a short time, if he hadn't been the estate agent for the seller, or our estate agent. He is an exceptional real estate agent, with professionalism."

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Investors and Developers - here is a rare opportun Investors and Developers - here is a rare opportunity to purchase an entire block of 8 strata apartment in the beating heart of Bondi Beach. A well maintained Art Deco building, 'Milton Hall' at 50 Roscoe Street is a short stroll to the sand and moments to Bondi's vibrant cafes, restaurants, shops and bars.
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For further info click on the link in our bio
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#propertyinvestment  #propertydevelopment #bondi #bondibeach #beachlife #building #buildingdevelopment #residentialrealestate #bondilifestyles #bondirestaurants #bondicafes #realestate #artdeco #realestateagent #sydneyeastersuburbs #property #realestateagency #realestatesydney #familyhome #houses #homes #sothebys #sydneysothebys #goldbros #sydney #sydneyrealestate #bondilifestyles #bondirestaurants #bondicafes @sydneysothebys @barryigoldman @markgoldman1 
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https://goldmanbrothers.com.au/50-roscoe-street-bondi-beach/
Point Piper lifestyles. With the Royal Motor Yacht Point Piper lifestyles. With the Royal Motor Yacht Club directly across the road, this exquisite Art Deco apartment has a world class location, exclusive finishes and house-like proportions. See our bio for further info. 
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Full of period features, including this detail in Full of period features, including this detail in the original Terrazzo floors, this oversized, top floor, Art Deco apartment was sold prior to auction last night. Low interest rates, motivated buyers and limited stock are all contributing to the high demand we are seeing for properties of this calibre. Contact us for further information.
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According to Damian Cooley in an article on the SM According to Damian Cooley in an article on the SMH's Domain website today "The Market is Booming". Our opinion is the same. A combination of high buyer demand, limited stock and confidence in the market seems to all contribute to the current record breaking auction clearance rates. 
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The lovely @lisa_kramer1 welcoming visitors today The lovely @lisa_kramer1 welcoming visitors today at the open home for Penthouse 1 at 24 New South Head road in Vaucluse. Judging by the number of groups we had through, interest in this stunning residence is red hot. 

You can View the property by clicking on the link in our bio at the top.
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Point Piper - 2 Bed / 1 Bath / 1 Car - With house Point Piper - 2 Bed / 1 Bath / 1 Car - With house like proportions and a world class location, this stunning ground floor residence is located in a well-maintained Art Deco building moments to the Royal Motor Yacht Club and local harbour beaches. See link in bio to view the property.
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Vaucluse - 4 Bed / 3 Bath / 2 Car - Bathed in natu Vaucluse - 4 Bed / 3 Bath / 2 Car - Bathed in natural light and laid out over two expansive levels, this impeccably presented penthouse has panoramic harbour views and is located in a modern, boutique block of just four executive residences. See link in bio to view the property.
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The Goldman Brothers Team is having a wonderful en The Goldman Brothers Team is having a wonderful end to the year, selling two residences on Friday alone. Barry and Mark negotiated the sale of a stunning home at 2/7 Marathon Mews, Double Bay just one day after listing the property. An incredible result for all involved. They also sold an immaculately presented family home at 2/103A Birriga Road in Bellevue Hill prior to the scheduled auction. For further info click on the link in our bio.
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