The eastern suburbs have continued to define the meaning of a hot,hot,hot property market,according to Herron Todd White’s recent report.
The property valuation firm says that although the east has been hot across the board.
It considers the $2million to $3million price bracket for houses and $1 million to $1.5 million price bracket for units to be the strongest price points in the current market.
Paddington has been a stand out suburb for houses with a 2016 median price of $2.125 million which is up 21.4% from 2015.(source : price finder )
Paddington is a highly regarded suburb close to sydney’s CBD and comprises mainly period style terrace homes.
Within the eastern suburbs unit market,the suburb of cooge has been a stand out performer,especially in the $1 million to $1.5 million price bracket.
“Demand is still extremely strong for high quality renovated homes and units with cashed up and time poor buyers ready to move on the right property,without wanting to do the hard work themselves” the report suggested.