The pandemic hasn’t deterred investors from seeking property in Avalon Beach despite the area becoming Australia’s COVID hotspot in recent months. The latest figures show that house prices in this Northern Beaches neighbourhood jumped to 22.4 percent in the last quarter of 2020.
According to realestate.com.au, Avalon’s new median house price has risen to $2.3 million from $1.885 million during the same time period in 2020. House trades reached 157 for 2020 to current, with more than a dozen deals closed in December when a virus cluster emerged in the suburbs and Avalon was under a tight lockdown.
Realtors think that Avalon’s response to the virus threat made it more attractive to prospective buyers as the community followed the rules, made responsible decisions and rallied to curb the spread for good.
Thus, inquiries about properties in this beach suburb continue to attract buyers looking for a lifestyle home with an “increased sense of urgency,” according to James Baker of McGrath Avalon. Even the rental market is on the upswing as people look for space and properties in a less crowded neighbourhood whilst working from home.
Avalon has always appealed as a quintessential lifestyle destination. Now, people want to stick around and snap up a holiday home for a change in scenery.