Winter hotspots revealed
Despite the recent winter property market cool-down, there are still some active hotspots, Raine & Horne chief executive officer Angus Raine has said.
According to Mr Raine, listings in many Sydney suburbs have been up since April, which is creating symmetry between buyer demand and supply.
“This is maintaining robust prices in those locations with median prices typically above $800,000,” Mr Raine said.
Leading performers include inner and medium ring suburbs such as Annandale, Bronte, Darlinghurst, Epping, Killara and Zetland.
Raine & Horne Bondi Beach licensee-in-charge Mary Anne Cronin said Bronte posed opportunities for sellers due to the shortage of homes available.
“It’s a small suburb which has some fabulous homes. It’s also tightly held, so there is a shortage of properties for sale, which helps boost demand and prices,” Ms Cronin said.
According to Ms Cronin, units, in particular, have been in short supply.
“For instance units in a 1970s-style block in Belgrave Street, Bronte sold for around $600,000 two years ago," she said.
“A similar unit in the same block recently sold for $880,000."