Potts Point and Bondi Junction worth watching as Sydney's eastern prestige suburbs ride high: HTW

Potts Point and Bondi Junction worth watching as Sydney's eastern prestige suburbs ride high: HTW
Potts Point and Bondi Junction worth watching as Sydney's eastern prestige suburbs ride high: HTW

Sydney’s eastern suburbs are set to stay strong, especially in the first half of the year with a strong but slower second half of 2017, according to HTW's February 2017 update.

The valuation firm says the market has previously remained strong due to limited stock, high demand and buyer confidence. These factors will continue to support the market through to the end of the year.

Detached houses around $1.5 million to $3 million and units up to $3 million are predicted to have a slower growth than previous years. The prestige markets (over $3 million) along the beachside and centrally located suburbs are set to have a slightly higher growth than previous years with stronger buyer confidence.

The market saw strong growth in 2016 for North Bondi which had 22.4% growth and Paddington with 16% growth, according to pricefinder.com.au. HTW expect that these areas will continue to perform well this year in the over $3 million price point.

As the eastern suburbs have had a strong three years of growth recently, there does not appear to be any suburb with an affordable price point.

"Worth watching are Potts Points and Bondi Junction.

"Potts Point has had a decline in the entertainment precinct which has made this area more appealing to young professionals.

"As the nightclubs and night time entertainment have declined, it has made this area a quieter and slower paced neighborhood."

It noted Bondi Junction is still in high demand for young families and professional couples as the suburb is in close proximity to Westfield Bondi, Bondi train station and local amenities and high growth is still predicted.

In Potts Point $4 million is being sought by Lapahm Holdings director Margaret Malaghan for her Hordern Place tower penthouse, which has views of the Harbour Bridge and Opera House.

The apartment (above) spans two floors, with two bedrooms, a bathroom and a laundry at entry level and the living areas and master bedroom upstairs.

A covered balcony wraps around the north-west corner.

Vicki Laing of Laing Real Estate has the auction scheduled for February 28.

Tags: 
Potts Point Bondi Junction

Community Discussion

Be the first one to comment on this article
What would you like to say about this project?