General Overview of Sydney Property
Sydney now is officially considered to have the most expensive real estate, a claim that has belonged to Perth for some time. Housing prices in Sydney increased over the first seven months of 2007, according to RP Data and Rismarck International analysts. This was a change from the sluggish growth rate experienced in the three preceding years.
But if you want to look at growth over the whole decade, then real estate with a waterfront view has been on the rise compared to other areas. There is still confidence in the market in spite of there being another interest rate rise on the horizon.
Some of the bargain waterfront areas of the moment include Waverton, Wollstonecraft, Pott’s Point, Elizabeth Bay and Woolloomooloo.
Some experts consider that the inner west and northern beaches hold good investment opportunities, with eastern suburbs a tight market with sky-high prices. Annandale and Lilyfield, both affluent suburbs, are popular right now due to the price slump. But places like Petersham and Stanmore, while much cheaper, have become stagnant because owners don’t want to sell at such low prices.
Buyers are now more selective and while willing to pay a premium, they want big blocks with the right aspect.