Greater Sydney lifestyle markets fared well in 2020: CoreLogic
Lifestyle markets in the Greater Sydney region were among a number council areas with the highest incidence of profitability, according to CoreLogic’s recent Pain and Gain report.
While the higher-end housing market of Hunters Hill recorded the highest rate of profitable sales at 97.8 per cent, Sydney's lifestyle markets also saw significant profit-making sales.
“Council regions toward the top of the list for profitability included the Blue Mountains and Central Coast,” the report noted.
The Blue Mountains reported 96.6 per cent of all sales as profit-making with a median profit of $305,000, similar to the median profit of North Shore properties in Ku-Ring-Gai and Lane Cove.
95.5 per cent of Central Coast properties sold for a profit over the September quarter, with a total value of profit recorded at over $600 million, second only to the Northern Beach's $845 million.
Across Greater Sydney, the portion of profit-making sales increased 70 basis points to 91.9 per cent, with houses faring better than units.
Across the council regions of Sydney, the highest portion of loss-making sales were in Strathfield and Parramatta, at 18.7 per cent and 18.4 per cent respectively.
88.1 per cent of the loss-making sales in Parramatta were units, 76.1 per cent of which were investor owned.
With a trend towards recovery in the Sydney dwelling market over the December quarter, CoreLogic predicts profitability may increase across the Sydney market in the coming months.
Residences on the market in Sydney’s profit-making Central Coast region
1. The Archibald, Gosford
Address: 110-118 Mann Street, Gosford NSW 2250
The Archibald is a statement of cosmopolitan living and relaxed luxury. This amenity-rich project is set to become one of the Central Coast’s most vibrant and dynamic urban villages, combining architectural design, luxury apartment living, and a premium hotel.
Taking its name from Archibald Acheson, the second Earl of Gosford circa 1839, 661 Chapel Street has an innate refinement with a contemporary laidback appeal.
2. Ravello, Point Frederick
Address: 65 Masons Parade, Point Frederick NSW 2250
Few locations rival Point Frederick’s intimate embrace of the coast. Prized for its substantial homes, leafy streets and magnificent views, it is one of the most tightly-held enclaves on the Central Coast.
Ready to move in 2021, Ravello offers waterside residences with spacious living and large outdoor terraces. Designed by White + Dickson Architects, the residence includes wine cellars, furnished lobby and views over Brisbane Water.
