For us as a young family in Byron Bay it has been really good. Strong sense of community and a lot of great families. Lots activities for the kids to stay on track like surf club, swimming club, soccer, scouts. It looks pretty touristy from the outside but underneath has a great community. Byron Bay Public school is excellent with a great culture of achieving in all fields of human values with an attitude of acceptance of students at all levels.There are many other primary schools to choose from as well.
The Central Coast , NSW, is beautiful and I can recommend Avoca Beach and its local school or Catholic School personally.
There is a wide variety of housing and we have a strong sense of community here. Christmas holidays the beach (50% a dog friendly one) is busy but there are more than 4 others within a few minutes to choose from if you'd like to hide:)
Great coffee shops and Cafes are the payoff for having the "blow -ins" over the holidays as it's their $$ that keep them profitable. There's a vintage cinema , scuba diving and a toddler friendly lagoon too. If you want to make friends easily just join the Nippers club or the Sharks rugby. Super safe and the kids can ride their bikes to school. Negatives would be that the yummyschool mummies are 'clickey' and the bus service to the train station is poor.
School buses are great!
Terrigal is next door and that's a very popular suburb too, although it's much more developed.Good Luck.
Banora Point is a great area to live and bring up a family but also consider the surrounding areas of Kingscliff, Casuarina or Cabarita Beach which are more Coastal than Banora Point if that is the lifestyle you are after. All the best with your search.
Banora is a perfect place for families. We have four who all loved it. They attended local catholic schools which are impressive, wonderful teachers and a great sense of community. Don't go past the Banora heights area, convenient and very safe. Banora has all the positives of living near the coast without the tourist issues over summer some other areas have. If you are after a safe, quiet and family focused area Banora will be perfect.