Should I buy in McMahons Point?
Suburb Report – McMahons Point, NSW, 2060
Location
McMahons Point is a picturesque harbourside suburb on the Lower North Shore of Sydney. It is three kilometres north of Sydney’s CBD and is in the local government area of the Municipality of North Sydney. McMahons Point sits on the peninsula bordered by Berrys Bay to the west and Lavender Bay to the east. It is a medium density residential area and is among Sydney’s most exclusive localities.
Household Occupancy
The predominant age group in McMahons Point is between 30-39 years. In relation to demographics, single parents make up the largest group of residents, occupying 43% of households. Childless couples make up 32% of the population and couples with children, 11%. 56% of residents in McMahons Point are renting their homes, 25% own their homes outright and 18% are purchasers. Those who are purchasing their homes would be paying $1,600 to $1,800 a month in mortgage repayments. The majority of residents in McMahons Point are employed in professional occupations, earning salaries greater than $103k per annum.
Average Prices
In 2010, the average sale price of houses in the area is $1,817,000. On average, this price tag will purchase a three to four bedroom, one to two bathroom home with a garage. In comparison, the average sale price of a two to three bedroom, one bathroom unit with car parking facilities is $853,259. Top sale prices for each category of $4,500,000 and $1,810,000, respectively, have been recorded in the last six months. 52 units and 19 houses were sold in McMahons Point in 2010. 
The Properties
18/18-22 West Crescent Street is an ideally positioned penthouse apartment offering water views from every room. The three bedroom, two bathroom apartment is located in the well sought-after Sandpipers complex and offers magnificent views of Berrys Bay across to Sydney Harbour and Darling Harbour. The apartment boasts large living and dining areas and an outdoor terrace perfect for entertaining friends. It also offers a secure double garage, landscaped gardens and direct access to the Waterfront Parklands of Sawmiller’s Reserve. It is only a short stroll to local shops, restaurants and cafes.
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The Neighbourhood
McMahons Point is a very family friendly region, with several parks and playgrounds. Watt Park, Blues Point Reserve and Victoria Street Playground are three local favourites with extensive play equipment for children. Blues Point Reserve occupies an ideal foreshore location offering spectacular views of the harbour, city skyline and Harbour Bridge. At the northern end of Blues Point Road near the North Sydney CBD, is a concentration of businesses in the fields of advertising, marketing, engineering, computing and architecture. It is also home to a selection of specialty retail stores including fashion and arts stores. There are no schools in McMahons Point, however it is only a five to ten minute drive to a selection of well sought-after schools in North Sydney including North Sydney Boys and North Sydney Girls High Schools, Wenona School and Marist College North Shore.
Transport
McMahons Point is well serviced by ferry, road and rail services. It is only minutes drive to the North Sydney, Milson’s Point and Waverton railway stations. Each station is on the North Shore and Northern Lines of the City Rail network. Services run north to Hornsby and south to the CBD before continuing west to Burwood, Parramatta and Penrith. The McMahons Point ferry wharf is well serviced by Sydney Ferries. The wharf is on the Northern side of Sydney Harbour next to Blues Point Tower. There are a number of operating services including those to Circular Quay, Darling Harbour, Sydney Olympic Park and Birkenhead Point. The bus route 265 runs daily into the Sydney CBD via North Sydney. Services also run north to Lane Cove via Wollstonecraft, Crows Nest, St Leonards and Greenwich.
Restaurants, Accommodation, Amenities
A number of trendy cafes, restaurants and bars line Blues Point Road in McMahons Point. Blues Point Hotel is a local favourite offering relaxing terrace bars, a bistro, versatile function rooms, pool tables, TAB and boutique accommodation. Other local hotspots include Nu’s Thai Restaurant, Lavender Blue and Piato, which offers a relaxed bar area, outdoor courtyard and corporate boardroom. Harbourside Apartments offers 82 tastefully decorated units, perfect for short or long term stays. The apartments include fully equipped kitchens and access to the magnificent pool area with barbecue and picnic facilities right on the harbour’s edge. It is only a five minute drive to the larger hotel chains of North Sydney, the North Shore and Rydges Hotels.
Want help?
Contact your local Mortgageport team consultant for further information on buying in McMahons Point and what loan best suits your needs.
