HOME » Blog » Looking into one of the Wealthy Neighborhoods of Sydney: Watsons Bay
Update: 12/18/2024
How a small fishing village became a tightly held billionaire suburb
You can ask one of the local members about what Watsons Bay looked like before the billionaires came.
"It's definitely changed, with all the money moving into the area," she says.
"When I was a girl growing up here, it was a fishing village. I used to go down to Camp Cove to throw a ball around. You'd be lucky to find 20 people there."
Watsons Bay is one of Sydney's most tightly-held harbourside suburbs, with a population of just 850 residents.
Perched on the tip of the South Head, it offers panoramic harbour views to the west and spectacular ocean vistas beyond the rugged cliffs on its eastern edge.
Michael Pallier, managing director of Sydney Sotheby's International Realty, says Watsons Bay appeals to buyers who want a Palm Beach lifestyle with an 18-minute ferry ride to the city.
"People are drawn to Watsons Bay because it's less densely populated than other parts of the eastern suburbs," he says.
Over the years, he has witnessed a shift from buyers whose families had lived in the area for generations to cashed-up trophy-home hunters and, more recently, growing interest from Sydneysiders who can work from home.
"The billionaires who bought waterfront properties could work from home and go into the office whenever they wanted to. Now, with the way technology has gone, you can live like a billionaire without spending fortunes on a waterfront home."
An example of one of the listings in Watson Bay.
https://www.domain.com.au/7-dunbar-street-watsons-bay-nsw-2030-2019621497
Properties along Sydney's Camp Cove beach in Watson's Bay are some of the most prized in Australia.
The Watsons Bay sale follows the $30 million sale of Jennifer Hershon's Bellevue Hill home on Victoria Road, which sold within two days of hitting real estate websites.
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