The popularity of a suburb is a great indicator of the property’s prospective value down the line. If the properties sell quickly in a location and at a healthy price, you can be certain the area is a good place to invest some money in. There are several locations in and around Sydney, particularly in the Eastern Suburbs that have 100% sales rate.
What does 100% sales rate mean?
This rate means that all properties that are sold or auctioned in this territory have buyers. The market isn’t slow and the properties don’t have to sit on the real estate agent’s roster for long. According to the recent surveys, many locations in Eastern Suburbs of Sydney have achieved record sales. Real estate agents have noted that 100% properties sold in Elizabeth Bay. Similarly, local real estate agents have noticed that 100% properties sold in Potts Point as well.
Record prices achieved in Elizabeth Bay
Several properties in Elizabeth Bay have been sold at record prices because of the location, history, and the quality of construction. Last year, Berthong was sold for $37 million, which set the local record when it comes to property prices. Just in April this year, the cost of rooftop space in Elizabeth Bay reached $1 million. A similar trend is visible in other areas locations in Eastern Suburbs.
Record prices achieved in Potts Point
Potts Point isn’t lagging behind Elizabeth Bay in any way. A terrace house in Potts Point sold for $13 million in 2016, which is also a local record and even car spaces in the local areas are selling for nearly $250,000.
Huge database of potential buyers waiting
The potential and appeal of Eastern Suburbs hasn’t been lost on real estate agents and prospective buyers. There’s a large database of potential buyers just waiting to purchase good available properties in these locations.
If you want to know more about properties in Eastern Suburbs, contact us at Ron Danieli Real Estate or give us a call at 02 9358 8998.