Southern Sydney FHBs spending up to $1 million
Like other parts of Sydney, investor demand has declined in recent months in Southern Sydney, while home owners are generally remaining active in the market, according to the valuation firm Herron Todd White.
First home buyers generally budget up to $1,000,000, which generally restricts property options to units, villas and townhouses.
There are a number of new unit developments in the Sutherland Shire which are attractive for rst home buyers including those at Woolooware Bay and the South Village development currently under construction at Kirrawee.
For the latter, 1-bedroom units are selling off the plan for between $600,000 and $700,000, and 2-bedroom units for between $680,000 and $900,000, HTW noted.
First home buyers, downsizers and young professionals were prominent in the successful sales weekend of Crest at Woolooware Bay.
Upsizers and families require a budget of $1 million up to $3 million in more popular beachside and riverside suburbs.
Duplex properties are becoming increasingly attractive, allowing a more affordable option of a good sized modern home on a smaller low maintenance block of land.
The valuation firm noted a sale at 32B Carabella Road, Caringbah, which sold for $1.562 million in August, comprised a new two storey semi- detached duplex with 4-bedrooms, 2-bathrooms and 1-car garage on a 280 square metre lot.