Should I buy in Balmoral?
Suburb Report – Balmoral, NSW, 2088
Location
Balmoral is a well sought-after residential locality that forms part of the suburb of Mosman on the Lower North Shore of Sydney. It is ten kilometres north-east of Sydney’s CBD and is in the local government area of the Municipality of Mosman. Balmoral is best known for its beach and slopes which offer stunning views across Middle Harbour, Manly and Clontarf. Balmoral forms part of the suburb of Mosman, therefore some of the data in this represents the suburb as a whole.
Household Occupancy
The predominant age group in Balmoral falls between 30-39 years. In relation to demographics, sole parents make up the largest group of residents, occupying 33% of households. Couples with children make up 28% of the population and childless couples, 26%. 37% of residents in Balmoral own their homes outright, 35% are renters and 25% are currently paying off their mortgage. Those who are purchasing their homes would be paying more than $2,000 a month in mortgage repayments. The majority of residents in Balmoral are employed in professional occupations, earning salaries well above $103k per annum.
Average Prices
Currently, the median sale price of houses in the suburb of Mosman and Balmoral is a healthy $2,500,000. In comparison, the median sale price of a unit is $804,000. 547 units and 313 houses were sold in 2009. The average sale price in December 2010 of a two bedroom, one bathroom unit in the locality of Balmoral is $574,250. The average asking price of a four bedroom, three bathroom home currently on the market in Balmoral is $3,937,500.
The Properties
24A Fairfax Road is the ultimate in contemporary living. The architecturally designed, split level home offers spectacular views of Chinamans Beach and a perfect northerly aspect with year round sunshine. The four bedroom, three bathroom property boasts vast open plan living areas that merge seamlessly with outdoor living terraces. It also features an atrium-styled courtyard and expansive pool deck, making it the perfect entertainment setting. The property is set in a quiet location only a few minutes walk to Balmoral Beach and offers a lift, alarm system and two secure parking spaces.
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The Neighbourhood
Balmoral is divided into Edwards and Balmoral Beaches. Both are popular with sunseekers, swimmers and families enjoying the sheltered conditions of the quiet, harbourside location. The two are separated by Rocky Point, a small island only a few metres off shore that is reachable by a stone foot bridge. The island is a perfect spot for families and couples to enjoy a relaxing picnic and is a popular location for wedding photos. Balmoral is also the start of a picturesque walking trail to Chowder Bay and Clifton Gardens. The trail is filled with statues and symbols of Sydney’s military heritage including preserved cannons and a World War One hospital site. ‘Shakespeare by the Sea’ is a popular local pastime and is held at the Rotunda during the summer months with performances on Friday, Saturday and Sunday evenings.
Transport
The most picturesque route to the CBD from Balmoral is via ferry. Balmoral Wharf also links to other wharves on the Lower North Shore including Mosman, Cremorne and Lavender Bay. Access to Balmoral Wharf is dependent on wave and swell conditions and cannot be guaranteed. In the event of inclement weather conditions, the nearest wharf is Mosman. There is a direct bus route into the Sydney CBD, which is approximately 15 kilometres or a 20 - 25 minute drive. Balmoral can be accessed by major roads such as Military Road, Ernest Street and Kurraba Road. The Gore Hill Freeway is also easily accessible. There is often very heavy traffic leading into Balmoral during peak hours.
Restaurants, Accommodation, Amenities
Balmoral boasts a number of well sought-after restaurants and cafes with gorgeous views over Balmoral beach. Toward the Southern end of the Esplanade are two local favourites - Boat Shed Cafe and the hip Public Dining Room, which replaced the well loved Watermark Restaurant. The Bather’s Pavillion is located further up the Esplanade and comprises a cafe and restaurant in the same complex. This combination allows customers to enjoy fine dining or simply drop in and enjoy a quick coffee or snack. There are countless accommodation options in Balmoral for those seeking a relaxing, beach holiday. The Balmoral Beach House sleeps eight and is perfect for the larger family or group of young friends. The house is only a two minute stroll to the beach and boasts a heated pool, barbecue area and sundrenched courtyard. The Balmoral Beach Apartment is a much cheaper option that sleeps six and offers magnificent harbour views.
Want help?
Contact your local Mortgageport team consultant for further information on buying in Balmoral and what loan best suits your needs.
