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New South Wales
Joshua
Sydney
Sydney home seekers’ chances of getting a lockdown bargain have evaporated in the face of another surge of buyer demand.
Property sales data has revealed house hunters are facing even more competition at auction than they were before the city lockdown began, despite the weaker economy and restrictions on movement. The average home selling at auction has delivered the vendors a price $150,000 over the reserve, an incredible jump considering agent reports of vendors inflating their expectations to “ridiculous” levels. It was one of only 10 available houses in what’s normally one of the Sydney suburbs with the highest volume of sales.
Properties were also selling faster during lockdown – partly because of a mass of sellers pulling their properties from the market, leaving buyers with fewer homes to choose from.
Continue reading at: x
Property boom in lockdown? Chances of a Covid-era ...
Lockdown has brought the Sydney economy to its knees but competition for homes has actually been increasing and prices have soared, but there’s an unsettling trend behind recent rises.
www.realestate.com.au
0 Reply
133 Views
3D ago
James
Sydney
City regions where prices are poised to continue marching upwards, despite the lockdown restrictions and tense economic environment, included the northern beaches and eastern suburbs.
Buyer demand in these regions continues to outweigh housing supply and competition for listings remains tight, sales data showed. Conditions have been different in parts of the north shore, Ryde area, Blacktown and Central Coast, where a bump in listings and softer demand has helped cool the local markets. The slowdown was most apparent in the Blacktown region, where prices ballooned by an average of 3 per cent in March but slowed to 1.6 per cent in June. Preliminary indicators suggested a further slowing would occur in July. Continue reading at: x
Price growth: Sydney’s extended lockdown has mix...
Sydney’s extended lockdown has actually boosted most property markets, but there are also some areas where once rampant price growth has begun to slow.
www.realestate.com.au
0 Reply
21 Views
6D ago
Anuj
Sydney
Buyers competing for property at virtual auctions have doubled since lockdown started last month. It comes as new listings have declined with many sellers reluctant to sell, despite strong confidence among buyers. “While market confidence is different, I don’t think anyone expected bidders at auctions to soar by this much in a lockdown,” she said.
“Buyers have found the process of taking part at an online auction to be much easier than an in person event, but also there is a lot of confidence out there.” “Lockdown will push up house prices at a much faster rate than what Sydney was expected to have.”
Get details at: x
Sydney auctions: Auction registrations double as l...
Sydney’s Covid-19 lockdown has had an unexpected impact on the number of bidders at auctions as experts predict the end of stay at home orders will be bad news for buyers.
www.realestate.com.au
0 Reply
230 Views
6D ago
InvestAus
Federal
Managing the housing delivery systems as we come out of the pandemic will require a better grasp of policy impacts if Australia is not going to fail residents in their goals across the cities and regions. Our system of local, state and federal governments presents the biggest challenge. A recent study by the Australian Housing and Urban Research Institute (AHURI) noted the assignment of policy responsibilities and functions within a geographically large federal system must take into account the functional nature of our systems.
The Federal Government seems content to bask in the glory of the numbers who take up their housing initiatives. Federal Housing Minister Michael Sukkar boasts about the take-up of the first homebuyer low deposit scheme, along with the HomeBuilder scheme, but without any subsequent advised oversight and review of what is a dynamic but fraught marketplace. Continue reading at: x
Government support needed on all levels if propert...
OPINION: Managing the housing delivery systems as we come out of the pandemic will require a better grasp of policy impacts if Australia is not going to fail residents.
www.realestate.com.au
0 Reply
212 Views
6D ago
InvestAus
Sydney
Like the rest of Sydney’s property prices, the prime real estate market has continued to rise in 2021.
According to new research by Knight Frank, Sydney actually outpaced earlier expectations for growth by more than double their original expectations. This new figure puts Sydney ahead of other global capitals covered in Knight Frank’s Global Prime Price forecasts, such as Los Angeles, Hong Kong, Paris, Geneva, Auckland, Miami and London.
Knight Frank Australia’s head of residential research, Michelle Ciesielski, noted that Sydney’s prime residential property market has recorded positive annual price growth every quarter since March 2013. She said that this trend demonstrates an ongoing undersupply of luxury prestige homes being built relative to Sydney’s ‘ultra-wealthy’ population. Continue reading at: x
Sydney’s prime property outpaces forecasts to ta...
Double-digit growth has put Sydney well ahead of the rest when it comes to luxury real estate.
www.smartpropertyinvestment.com.au
0 Reply
207 Views
13D ago
Harsha
InvestAus
Sydney
Extended lockdown has failed to extinguish Sydney’s housing boom and may even be adding further fuel to the red hot market.
Experts revealed competition for real estate has been ramping up since the lockdown started because of fewer homeowners listing their homes for sale at a time of still elevated demand. The conditions put pressure on buyers to offer higher prices and agents reported “ferocious bidding” at weekend auctions. The preliminary auction clearance rate for the 780-odd properties scheduled to go to under the hammer was 77 per cent, according to CoreLogic.
The bulk of the properties that did not sell were withdrawn from auction prior to bidding, with only 29 auctions passing in.
My Housing Market economist Andrew Wilson said the lockdown created a sense of “trepidation” in sellers but not buyers. Continue reading at: x
Sydney in lockdown: ‘FOMO’ intensifies as rest...
Extended lockdown and restrictions on home buyer activity have failed to cool the current boom in property prices and sellers have actually been cashing in.
www.realestate.com.au
0 Reply
282 Views
17D ago
Justprop Team member
Woolloomooloo
Introduction
Woolloomooloo is located 1.5 km east of the Sydney CBD, NSW, Australia. It is a harbourside, inner-city eastern suburb of Sydney. It is a short bus ride to the city and a good thirty minutes stroll to get to Pitt Street Mall. There is a large homeless population here and the biggest men's homeless hostel in the city is also located in Woolloomooloo. Because of it's proximity to the city, many young, working professionals like living in Woolloomooloo.
Benefits
Woolloomooloo is a beautiful suburb offering lots of facilities:
• Safe suburb
• Multicultural suburb
• Location is good
• Lots of cafes and restaurants
• Very close to CBD
• Good community spirit
• Convenient for young generation, professionals and families
Challenges • No local train station
• Very less options for good schools
• Parking
• High cost of living
• Shopping options are very less
Location
Woolloomooloo is bordered on the north by Woolloomooloo Bay, on the east by Potts Point, on the south by Darlinghurst, and on the west by the Domain parklands and gardens and Sydney CBD.
Connectivity
• Kings Cross railway station is the nearest station to the suburb ( Just a 8 mins walk away). It is an underground station at Potts Point, on the Eastern Suburbs railway line of the Sydney Trains network.
• Regular bus services are available in the suburb to travel around the surrounding suburbs.
Shopping destinations
Suburb does not offer any major local shopping centre, but many shopping options are available in the neighboring suburbs:
• Metro Woolloomooloo is a local grocery store in the suburb.
• The Real Store is an in store shopping centre available in the suburb.
• Kings Cross Centre is a shopping centre in Kings Cross, a locality in the inner-city suburb of Potts Point. The mall has a good selection of small eateries, a gym, Coles downstairs, the mandatory Chinese shop where you can find everything
• Multiple small supermarkets and groceries are also available in the suburb
Schools & Daycares
Most of the schools are located in the neighboring suburbs:
• Plunkett Street Public School, Forbes St, Woolloomooloo
• Sydney Distance Education High School, 38-68 Forbes St, Woolloomooloo
• Sydney Grammar School, College St, Darlinghurst
• East Sydney High School, 75 William St, Darlinghurst
Good daycares are available in surrounding suburbs:
• SDN Woolloomooloo Children's Education and Care, Cnr McElhone St &, Reid Ave, Woolloomooloo
• Darlo Play Centre, 130 Womerah Ave, Darlinghurst
• Sydney CBD Montessori on King Child Care, Level 1/77 King St, Sydney
• Guardian Childcare & Education Bligh Street, 1 Bligh St, Sydney
Internet Connectivity
The NBN is now available in WOOLLOOMOOLOO with a high internet speed of 1000 Mbps.
Dwelling Type
Most residences here consist of renovated terraces densely packed along the neighborhood's narrow streets and pedestrian-only walkways.
Commute:
CBD: 2 km / 5-10 minutes by car / 10 minutes by transit
Chatswood: 11 km / 15-25 minutes by car / 30-35 minutes by transit
Parramatta: 33 km / 35-55 minutes by car / 40 minutes by transit
Price
Median Sale Price- $2.5m
Rent
Median Rent Price- $650pw
Summary
Woolloomooloo is a beautiful inner-city suburb that overlooks part of Sydney Harbour. There are many private residential housing and some public housing areas in this suburb. The suburb also has a string of upscale and casual restaurants, cocktail bars, chic pubs and art galleries. Harry's Cafe de Wheels is the most famous café of the suburb. It is in a low-lying, former docklands area at the head of Woolloomooloo Bay, on Sydney Harbour.
0 Reply
190 Views
17D ago
James
Sydney
Many sellers will likely decide to delay listing their properties for sale and Sydney’s rapid price growth will slow during the lockdown period, the experts said. “This is a seasonally slower period for the market through winter; however, Sydney’s market had significant momentum before lockdown with strong clearance rates, rapid price rises and high volumes of sales on a week-to-week basis,” Mr Kusher said.
“Buyers will still be able to buy if determined, but stock will be low so their options will be limited,” he said.Home inspections can still take place, by private appointment and for one person only, and all auctions are occurring online.
Property prices have risen sharply across Australia, with new realestate.com.au data showing Sydney recorded the biggest jump in median house prices – up 15.8% to $1.1 million – among the capital cities, over the past year. Get details at: x
Longer Lockdown To Slow Sydney Housing Market Befo...
Sydney’s extended COVID-19 lockdown will temporarily slow its housing boom before the market makes up for lost time in spring, experts say.
www.realestate.com.au
0 Reply
204 Views
19D ago
InvestAus
Potts Point
Introduction Potts Point is located 2km east of the Sydney CBD. It is a small and densely populated area in inner-city Sydney, NSW, Australia. Potts Point is bordered on two sides by Elizabeth Bay and Woolloomooloo Bay. This is the place to be for making the most of Sydney’s spectacular waterfront. It's walkable to the harbour, the city, and has easy, decent transport options from here. From young, single executives to life-loving empty-nesters, this suburb has it all.
Benefits
Potts Point is a vibrant suburb offering lots of facilities:
• Safe suburb
• Multicultural suburb
• Convenient location
• Lots and lots of cafes and restaurants
• Very close to CBD
• Good transport links
• Very good shopping options
• Good community spirit
• Perfect place for students, professionals and families
Challenges
• No local schools and day cares
• Parking
• Shopping options are very less
Location
Potts Point is bordered on the north by Sydney Harbour, on the east by Elizabeth Bay and Rushcutters Bay, on the south by Darlinghurst, and on the west by Woolloomooloo.
Connectivity
• Kings Cross railway station is an underground station at Potts Point, on the Eastern Suburbs railway line of the Sydney Trains network.
• There are a number of stairways that connect many neighbouring suburbs.
• Regular bus services are available in the suburb to travel around the surrounding suburbs.
Shopping destinations
• Kings Cross Centre is a shopping centre in Kings Cross, a locality in the inner-city suburb of Potts Point. The mall has a good selection of small eateries, a gym, Coles downstairs, the mandatory Chinese shop where you can find everything
• There are many clothing stores available in the suburb.
• Multiple supermarkets and groceries are also available in the suburb.
Schools & Daycares
Most of the schools are located in the neighboring suburbs:
• St Vincent's College Rockwall Cres, Potts Point
• Plunkett Street Public School, Forbes St, Woolloomooloo
• Sydney Grammar School, College St, Darlinghurst
• East Sydney High School, 75 William St, Darlinghurst
Good daycares are available in surrounding suburbs:
• SDN Woolloomooloo Children's Education and Care, Cnr McElhone St &, Reid Ave, Woolloomooloo
• Darlo Play Centre, 130 Womerah Ave, Darlinghurst
• Guardian Childcare & Education Bligh Street, 1 Bligh St, Sydney
Internet Connectivity
The NBN is now available in POTTS POINT with a high internet speed.
Dwelling Type
The suburb is mostly consist of apartments including everything from Art Deco studios to A-List-worthy penthouse entertainers.
Commute:
CBD: 3 km / 10-15 minutes by car / 5 minutes by transit
Chatswood: 13 km / 20-30 minutes by car / 30-35 minutes by transit
Parramatta: 27 km / 40-60 minutes by car / 40 minutes by transit
Price
Median Sale Price- $4.5m
Rent
Median Rent Price- $1.3Kpw
Summary
Potts Point is a vibrant suburb walking distance to the Sydney CBD. Macleay Street is one of the best streets in Sydney. A short walk to the city, access to many retail outlets plus cafe central - Potts Point has it all. Potts Point is an increasingly popular choice for first home buyers. Kings Cross is a commercial area that is dominated by bars, restaurants, nightclubs, strip clubs and adult bookstores. Many young working professionals have progressively moved into the suburb of Potts Point due to its proximity to the city.
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131 Views
20D ago
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