Property types in Palm Beach

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As one may guess from the title of this suburban district, Palm Beach is one of the most luxurious, affluent and south-after tourist destinations in all of New South Wales. Its amenable climate, clear waters and pristine beaches have made it popular for tourists and locals for decades. Located approximately forty kilometres from the central business district of Sydney, Palm Beach is rather sparsely populated; the last census placing the total number of year-round residents at only sixteen hundred.

The history of Palm Beach can be traced back as early as 1832 when it was known as Cabbage Tree Boat Harbour. The name Palm Beach stems from the numerous cabbage tree palms that can be found within its vicinity. It was not until the early 1900s that much of the land surrounding the harbour was partitioned into eighteen separate lots. These parcels were initially utilized for farming and the raising of dairy cows. Interestingly enough, even when the land was put up for residential sale, very few lots were purchased. Those that were used local materials such as sandstone to erect structures.

However, with the cessation of the Second World War and the exodus of many upper class residents from the cities, Palm Beach has experienced a relatively moderate amount of growth. Although this area is not considered to be a high-demand real estate market, it should be noted that some of the richest and most affluent individuals call Palm Beach their home.

Additionally, the rather secluded nature of the area has also kept the influx of residents down. This has not detracted from the worth of the property nor from the privacy and luxurious atmosphere that Palm Beach offers. Currently, there a number of parks, private beaches, yacht clubs and recreational facilities that locals can enjoy and that visitors can frequent during the summer season.
Average price in Palm Beach
Average price per  m2  $4,292
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Average price per  m2  $16
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