The Weekly 21 October 2022

Photo: Bert's Newport

Retail is booming, demand continues

Our area continues to attract more retail and more residential demand. There is no doubt the two go hand-in-hand. Shops, cafes, bars, and restaurants attract new buyers who appreciate a thriving village and community. The recent Woolworths upgrade is certainly more modern and well-stocked and there are a range of new businesses opening up. Buyers will notice the improvements, just as we are.

As far as we can see, a lot of retail space in Avalon is now spoken for. WASABI SUSHI has relocated – now opposite CommBank. And the space next to LA BANETTE is under renovation, stay tuned for that! And a cute little juice and coffee bar has just opened next to the cinema called SQUEEZE!

Fashion designer LEE MATHEWS is joining the fashionistas of Avalon to – there are now 10 fashion retailers in Avalon.. Stalwart $2 shop Willy Wonka has recently closed, and their former space is now available. It’s huge and bright, and we’re situated just above it! Located in the centre – it’s easy to find. We offer a discreet place to come and chat about selling, buying, leasing, or renting. If you are passing, please pop in and say hello.

Local demographics

Over the past twenty years, the economic profile of residents in our area has changed, it is now higher than ever before. At the moment, national statistics, show that some 40.1% of Avalon-Clareville, Newport and Bilgola households earn what is considered a “high income”. Likewise, 13.8% are in the lower income bracket. Irrespective, rentals are booming across the board.

With some employers luring people back to the office, many workers are still opting to take the work from home option or a hybrid option – and staying in the area for longer. This is adding to the consistent demand for good properties with space for work, whether to rent or buy.

The improvement of bus links and travel options are also making it easier for residents to venture out.

Market update

Yes, prices have softened, but the pressure is off. Recent stats show Northern Beaches prices down 14.5% year-to-date. Set against the forecasters who were looking at property value falls of 15-20% – the worst is apparently in the bag – and the only way is up. The market overall remains steady, with reduced volume. It seems that there’s no panic among owners.

What’s on locally?

There’s a bit more news on the trial closure of Old Barrenjoey by Woolworths. You can now submit your feedback on the issue to Northern Beaches Council…

Last weekend’s Newport Spring Festival, based around Robertson Road, in Newport, was another great local event. Unique, stylish retail combined with, music, food & excellent weather! – Thank you to the Newport Chamber of Commerce for coordinating a lovely event, and to all the shops, restaurants, and musicians who participated.

After the resounding success of the inaugural The Avalon Market on The Green, a few weeks ago, it will be returning on Sunday December 4th, this time held on the Green by the Bowlo. Plenty of food, drinks and some early Christmas shopping to be done. There will also be live music and entertainment later in the day. In addition, the Palm Beach Markets continue, held the fourth Sunday of every month, it’s always a fun one to poke around – see the dates here.

Now is also a great time to sell – request a market appraisal – here! Enjoy your weekend, some sunshine IS scheduled!