Few neighborhoods sit as pretty as Point Piper. In a best-of-both-worlds scenario, this tony suburb just minutes from the city has enviable Sydney skyline, Harbour Bridge, and opera house views, all without the commotion and crowds.
Boundaries:
Set out on a peninsula surrounded by water, Point Piper is just six kilometers east of downtown Sydney. It’s bordered to the south by the suburbs of Bellevue Hill and Double Bay.
Price range:
As with any neighborhood catering to upscale residents, one will need to have their finances in order to afford one of the enviable properties here—many of which are either right on the water or with views of the bay.
"Houses start at about A$8 million (US$6 million) with the highest sale at A$52 million (US$39.5 million) but there are even more expensive homes in Point Piper that have not yet come to the market," reports Ken Jacobs, managing director of Christie’s International Real Estate in Sydney. "Apartments range from about A$1 million (US$749,000) for a small, older-style unit and up to A$13 million (US$9.7 million) at the high end."
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Housing stock:
Multi-story mansions, grand Italianate and Victorian homes, and Arts and Crafts cottages are traditionally found lining the leafy streets of Point Piper. In recent years, new construction has given rise to more eclectic, contemporary-leaning homes.
A four-bedroom, six-bathroom home with sweeping harbour views is on the market at an undisclosed price.
SYDNEY SOTHEBY'S INTERNATIONAL REALTYWhat makes it unique:
The unobstructed views of iconic Sydney landmarks coupled with a secluded setting, make this spot postcard perfect and very much in demand.
Francis Egan of Sotheby's International Realty in Sydney adds that, "Point Piper is unique because it’s a very small peninsula with prime harborside position, and a high number of waterfronts, given the suburb’s small size." He also notes that just by the nature of being on a peninsula, there’s no through traffic and only 11 streets in total, so it’s also rather tranquil.
"Point Piper has always been an affluent suburb," says Mr. Egan, "And it’s consistently ranked among the most expensive suburbs in the country, with [its] Wolseley Road ranking globally as one of the most exclusive addresses on the planet."
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Luxe amenities in the neighborhood:
Point Piper is almost entirely residential, with the exception of two beaches and two yacht clubs: The Royal Motor Yacht Club and the Royal Prince Edward Yacht Club.
"There are no restaurants, shops or schools in Point Piper proper," Mr. Jacobs says, "However, very good schools are located in the adjoining suburb of Bellevue Hill, and there are great shops and restaurants in the Double Bay." Nearby prestigious private schools include the Cranbrook, Ascham, Kambala and Kincoppal-Rose Bay schools and Scots College.
Who lives there now:
As the price of entry would indicate, this swank suburb is a highly polished mix of business owners, doctors, lawyers, and professionals who are in the top of their fields. Australians make up the bulk of homeowners here, but it does turn heads of in-the-know foreign buyers as well.
Notable residents:
If invited to a dinner party in this exclusive enclave, you’ll want to study up on your current events as Australian Prime Minister Malcolm Turnbull and his wife, Lucy Turnbull, are residents. The founder of Australian shopping center company Westfield Group, Frank Lowy, as well as John Symond, the founder of Aussie Home Loans, also call the neighborhood home.
Outlook:
Despite low inventory, Mr. Egan says that, "Demand in Point Piper remains exceedingly high, given the small size of the suburb and its outstanding position in Sydney harbour." Mr. Jacobs concurs, adding that, "Point Piper is pretty much a gilt-edged investment location, and it will remain so because of the natural attributes."