Question 1

Is Lavender Bay a nice place to live?

Accepted Answer

Lavender Bay is a small harbourside suburb on Sydney's lower North Shore, tucked around a quiet inlet of Sydney Harbour. Its compact streets and foreshore reserves, including Wendy Whiteley's Secret Garden and picnic lawns, together with uninterrupted views of the Harbour Bridge and city skyline, give the area a relaxed, village-like feel. Housing mixes late 19th and early 20th century terraces and cottages with low-rise apartments, and ferries plus Milsons Point station make the city readily accessible; Luna Park and Kirribilli are close by.

Home to 870 people with a median age of 43 and a typical household income of $2,379 a week, Lavender Bay attracts professionals, couples and older residents. Couple families without children make up 64.6% of families and renting is the most common tenure at 58.6% of homes. The suburb’s main public open spaces are Watt Park, Clark Park, Quibaree Park and the foreshore, and there are no significant new public infrastructure or civic-amenity projects at present. Whether that suits you comes down to how much you value waterside walks, small local cafés and a compact, well connected harbourside setting.

Question 2

Is it expensive to live in Lavender Bay?

Accepted Answer

A unit renting for $740 a week in Lavender Bay would take about 31.1% of a typical local household's weekly income as recorded at the most recent Census (median household income $2,379 a week). That is a sizeable share of income, so if you are renting rather than buying that rent share is the figure to watch; whether it feels expensive will depend on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Lavender Bay a good place to invest?

Accepted Answer

Unit values in Lavender Bay rose 25.4% over the past 12 months, a strong increase in what a unit is worth. Over the same period, unit rents increased 2.8%, a modest rise in rental income, so capital growth on units outpaced rental growth this year.

If you are weighing Lavender Bay as an investment, those are the numbers that matter: the value change speaks to capital growth and the rent change to rental income. Whether that balance suits your goals and circumstances is for you to decide.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	N/A	N/A
Change in value Past 12 months	N/A	25.4%
Sold Past 3 months	N/A	3
Median days on market Past 12 months	N/A	N/A
Average rent Past 12 months	N/A	$740
Change in rent Past 12 months	N/A	2.8%

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