Property investor demand in south Sydney drops: HTW

Property investor demand in south Sydney drops: HTW
Property investor demand in south Sydney drops: HTW

Investor demand in south Sydney has dropped, according to Herron Todd White’s latest September report.

The property data firm says that however home owners remain active in the market.

Like other parts of Sydney, investor demand has declined in recent months while home owners are generally remaining active in the market.

First home buyers generally budget up to $1,000,000, which in this part of Sydney generally restricts property options to units, villas and townhouses.

The report said there are a number of new unit developments in the Sutherland Shire which are attractive for first 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.

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.

A sale at 32B Carabella Road, Caringbah, (above) which sold for $1.562 million in August 2017, comprised a new two storey semi- detached duplex with 4-bedrooms, 2-bathrooms and 1-car garage on a 280 square metre lot.

Empty nesters and downsizers are increasingly looking at large modern apartments in premium locations, which provide a low maintenance lifestyle close to cafes, restaurants and shopping facilities.

In many cases, these buyers are looking to spend as much as, or more than, the sale proceeds from their large family home.

Cronulla has become a popular location for empty nesters and retirees with a number of modern boutique complexes being constructed in recent years.

A large modern garden apartment, opposite the beach, sold in June 2017 for $2.76 million.

The apartment, at 4/29-31 Prince Street, (below) comprised 3-bedrooms, 2-bathrooms, double basement car space and a large wraparound yard area providing beach and ocean views.

Property investor demand in south Sydney drops: HTW

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Sydney Htw

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