Sydney East - Any Encouraging Signs of Life?

Sydney inner west doing well and Parramatta region by the sounds but how are the eastern suburbs going? Any solid evidence that the market is showing decent price gains or is it only slowly awakening? Anyone have a feeling the inner west is going up in price too quickly and some focus will shift east? Is it a good time to buy in the east for this reason? Would appreciate any feedback.
 
I posted on Redfern high prices being acheived (for quality properties in good streets) in another thread:-

Redfern prices...some sales over $2m:-

27 Chelsea St, Redfern 4 2 House BresicWhitney EA $2,580,000

http://www.realestate.com.au/propert...fern-113857503

33 Great Buckingham St, Redfern 4 4 House BresicWhitney EA $2,150,000

http://www.realestate.com.au/propert...fern-114117835

16 Telopea St, Redfern 3 2 House BresicWhitney EA $2,160,000

http://www.realestate.com.au/propert...fern-114783291

And some over $1.5m:-

92-94 Telopea St, Redfern 5 4 House BresicWhitney EA $1,850,000

http://www.realestate.com.au/propert...fern-113457955

690 Bourke St, Redfern 3 2 House Belle Property Surry Hills $1,800,000

http://www.realestate.com.au/propert...fern-113418307

51 Pitt St, Redfern 4 2 House FN Spencer & Servi $1,785,000

http://www.realestate.com.au/propert...fern-114220071

21 Great Buckingham Street Redfern Bresic Whitney $1,630,000

http://www.realestate.com.au/propert...fern-114354515
 
Hi Ajax, was thinking further east than redfern such as suburbs nearer the beach say from Bondi down to the "bra". Are they strong results though for Redfern?
Your Avatar being ASPEN, I'm taking that as Aspen in Colorado. Good spot eh?
 
charlieandkath,

yep...Ajax name is after the big white mountain in Aspen (not because I'm an abrasive personality, or a fan of a soccer team, am Greek or think I'm a Greek god).

They are high prices for Redfern however each property offered something special (often larger than average land size, premiere street etc). I till don't thinlk all Redfern property prices have surged.

As for East I saw a very small terrace in Brae Street Bronte sell for over $1m in March this year. I thought that was expensive at the time for what you got

http://www.realestate.com.au/property-house-nsw-bronte-113300123
 
I have a small 40sqm 1 bedder no parking in Elizabeth Bay which I rent furnished on 3-6mth leases which gives me a strong yield. Agent recently valued at $460-480k and said around Potts Point/Elizabeth Bay they are just telling people to add $50k on top of what their apartments are worth and punters are actually paying it.
 
I just sold a unit in Maroubra (settled today). There was reasonable interest but nowhere near as crazy as the western suburbs. Prices have increased in the past few months for units at least. I got about 20-30K more than I would've if I'd sold earlier in the year.

Talking to the real estate agents, semis and freestanding homes under 1.2mil are selling quickly, but in weeks rather than days or hours in comparison to the west. Maroubra has just hit the mill mark for semis but I haven't seen a huge increase for some properties that have resold in the past 3-4 years.
 
I have a fair number of clients in the eastern suburbs (namely pado, rose bay, etc) - there is massive activity for under $1.5mil. Good example will be the house they are about to auction at egdecliff rd. My guess is over 50 will show up and it will go at least $200k over what the agent quotes.
 

Attachments

  • Derelict terrace.jpg
    Derelict terrace.jpg
    82.8 KB · Views: 71
  • floorplan1.gif
    floorplan1.gif
    88.9 KB · Views: 71
  • 88 Campbell Street Surry Hills.jpg
    88 Campbell Street Surry Hills.jpg
    108.5 KB · Views: 67
Last edited:
Back
Top