A fascinating study of the real estate options on Macquarie Island - potentially the next up and coming opportunity on Australia's property market.

Smashed avocado on Macquarie Island

It's Saturday, 4 pm, and I’ve just been priced out of another property auction, as I try desperately to get a foot on the ‘out-of-reach’ property ladder in Australia. I’m a Gen-Y, smashed avocado-loving, coffee drinker who has been repeatedly priced out by Baby Boomers and their abundance of money. After reading and listening to as many property podcasts as I can, it becomes incredibly clear to me - I need a lifestyle change. The capital cities are now out of reach, and I need to broaden my horizons to other opportunities. But where? After hours of research, I stumble across a small pop-up ad that promises the next big thing! I honestly can’t believe what I’m reading. I take a deep breath, compose myself and make sure that what I see is correct. It reads “Macquarie Island is a tightly-held, gated community, surrounded by the calming waves of the Southwest Pacific Ocean. Residents lucky enough to be a part of this boutique village, have access to an abundance of amenities, including a Michelin Star restaurant, gym, spa, sauna, cinema, 24/7 medical facilities, and access to an array of walking tracks with world class views.

Can there still be property opportunities like this in Australia, I ask myself?  Giddy, I jump back online and book a one-way ticket through a company called ‘Serco’. I’m going to Macquarie Island.

The first thing I notice when I arrive is the amount of land available! Should I build or buy, I ask myself? Before I get too ahead of myself, I need to learn more about this small community on Macquarie Island. After grabbing a soy latte in a local café called ‘The Mess’ and mingling with some of the unique locals, I was finally starting to get a true understanding of the suburbs that make up Macquarie Island. I learn quickly that these are Cumpston’s Cottage, Hass House, Garden Cove, Southern Aurora Dongas (SAD) and The Bunkhouse. I’m an open-minded guy, so I set out to learn everything I can about each suburb before I decide which one I’m ultimately going to live in.

My property search begins in the blue-chip suburb of Cumpston’s Cottage. Towering over the rest of the suburbs that surround it, Cumpston’s Cottage is the equivalent to Melbourne’s Toorak or Sydney’s Bellevue Hill, inhabited by a high percentage of white-collar professionals. With uninterrupted ocean views and vast living dimensions, it was easy to see why the median house price was so expensive. One of the standouts features I noted, as I used my GPS to coordinate my way through the vast scale of the suburb, was the ‘bath house’. How lucky are these people to have their own bath I thought?! After marvelling in its beauty, I was quickly starting to realise that my income might not fit the average of the suburb and I might need to look elsewhere.

‘Aussie Battler’ is the first thing that comes to mind when I think of my time spent in the suburb of SAD. Constructed post the Second World War, the dwelling has seen better days and I was quick to realise that if I were to move to this suburb, I would be buying a ‘renovator’. Although the square meters were limited in the suburb of SAD, this was not a deterrent to the working-class locals who had the most impressive ‘get on with it’ attitude I had ever encountered. After serious consideration of the government living allowance afforded to those living in SAD, I decided that it was not quite for me.

Next stop on my list was the gentrified suburb of Garden Cove. I was told that it had recently gone through some serious amenity upgrades and was now one of the powerhouse suburbs on the Island. Representing the finest example of recent contemporary architecture and craftsmanship, it was clear to see why this suburb was so sought-after. During my many open house inspections, I was lucky enough to have an encounter with one of the locals, who assured me that he had never looked back since making the recent move from SAD to Garden Cove.

Yeah mate, this place just slaps” the young gentleman explained to me.

He went on to say that this was the nicest place he had ever lived in, and since his recent lifestyle change, had found himself inspired to invest in new hobbies such as frequenting the gym and collecting watches, or as he called them, ‘time pieces’. As I walked back past the private tearoom, it was incredibly clear that Garden Cove was now a hot contender on my list.

If you blink, you’ll miss it” is what I was told by a local about the suburb called ‘The Bunkhouse’. This suburb was the biggest mystery yet. I truly knew nothing about it and was struggling to find anything out about this mythical place and the people that occupied it. With a thirst for knowledge, and after making the long commute across the unkempt roads, I was lost for words with what I discovered. Nestled between the West Beach and Wireless Hill, with a backdrop of penguins, could this place be the nirvana I was looking for? Why did more people not know about this place? After meeting the only local in the suburb, it dawned on me. Had I found the first and only monarchy on Macquarie Island? A king in his king-size kingdom! This place was what dreams were made of! Enough room inside to swing ten cats, and a brand new, beautifully built ensuite, this palace didn’t disappoint. After serious deliberation I decided I was after a ‘republic’ not a monarchy and gave up the idea of living in The Bunkhouse.

Last but certainly not least was my visit to the biggest suburb on the Island, Hass House. Containing the most residences and the highest population, this suburb instantly grabbed my attention. Could I finally be home? After mingling with the hipster locals, I was given a guided tour of the long suburb. Recently renovated, it certainly didn’t disappoint, with friendly neighbours, an array of impressive bathrooms and an unnecessarily big drying room. This place felt great, so I asked my tour guide, Hank, what it was really like to live in this suburb.  

"It’s great mate, only downside is you can hear everything your neighbours are doing and I mean everything”.

Everything?” I ask.

Everything” Hank replied.

With the biggest issues being mustard yellow walls and the occasional noise complaint, I concluded that Hass House could be a great place to live, and earmarked it at the top of my list.

Brimming with knowledge and my head swimming with options, I began to realise that it’s not the ‘bath house’, ‘ocean views’ or the ‘king-size kingdoms’ that make the suburb, it’s the people you meet and the experiences you have that truly make a suburb your home.  On that note, not matter where you live on Macquarie Island, it’s a pretty great place to be, even if I do miss my smashed avocado every day!

By Matthew ‘Sauce’ Sawyer

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