Sydney locals love sub $2 million price bracket: Herron Todd White

The most popular price range for locals upgrading in Sydney for the year ending 30 June is between $1 million and $2 million, according to Herron Todd White.

Herron Todd White's October Month in Review said the inner west suburbs of Newtown, Erskineville and Dulwich Hill are very strong with plenty of sales activity in new unit developments with units starting from around $1 million.

"Homes priced between $1 million and $1.5 million within close proximity to infrastructure are attracting a lot of attention, with single level 2-bedroom Victorian terraces (with no parking) and two storey terraces are the main style of dwelling in this price range. 

"Eastern suburbs such as Bondi, Bondi Junction and Double Bay continued to provide strong auction results for homes and units alike.

"An example of a strong result within the year is a modern 5-bedroom project home in the southern suburb of Como recently selling at auction for an astonishing $1.8 million. This home was previously sold in March 2014 for $1.355 million, so this was a tidy profit. Local agents attribute the increase to the mere convenience of move in and enjoy with absolutely no work required."