Entry level properties in Sydney’s eastern suburbs are generally limited to units with former industrial areas and unused sites with development, according to HTW March Review 2017
The valuation firm says Sydney’s eastern suburbs property market one of the most challenging for first home buyers to enter due to its desired proximity to the CBD and beaches, therefore attracting higher prices.
“Modern one bedroom units in the $650,000 to $1 million price range can be purchased throughout suburbs such as Little Bay, Botany/ Mascot, Rosebery/Zetland and Waterloo,” the firm says.
“Older style units can also be purchased in this price bracket however the first home buyers grant and stamp duty saving does not apply.”
The report says the upcoming inner west market has attracted significant interest since the construction and completion of the light rail project contributing.
Entry level units may be easier to come by compared to some parts of the eastern suburbs, it suggests.
“Older style one and two bedroom units in Dulwich Hill, Marrickville and Petersham can be purchased for $600,000 to $750,000,” HTW says.
“Unit development in the Bankstown, Punchbowl and Lakemba corridor has increased significantly and this has seen units available at relatively affordable prices between $500,000 to $700,000 for new one, two and three bedroom units.
“Bankstown is positioned 20 kilometers from Sydney CBD and the train service will get a commuter into the city in less than 40 minutes.”
A one bedroom unit at 10/3 School Parade, Marrickville is listed with a price guide of just $530 000.
A one bedroom unit at 175/635 Gardeners Rd, Mascot is listed between $600-$620 000.
A Zetland one bedroom apartment at 84 – 92 Epsom Rd, Zetland has been listed with a buyers guide of $780 000.
Meanwhile a spacious two bedroom unit at 20/5 Williams Parade Dulwich Hill has been between $820- $880 000.
