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Outlook steady for Sydney's eastern suburbs

Outlook steady for Sydney's eastern suburbs

by Reporter 0 comments

Staff Reporter

While 2010 has been a year of ups and downs for the property market, buyer interest in Sydney's highly sought after eastern suburbs, for properties below $1.5 million, has remained strong, according to Raine & Horne.

According to Raine & Horne Double Bay principal Barry Goldman, in recent months there has been an increase in the numbers of prospective buyers coming through inspections, with up to 20 to 25 groups on average per open.

"This interest hasn't just been confined to homes in the sub $1.5 million sector - apartments below $1 million have been particularly strong, generating plenty of buyer enquiry," Mr Goldman said.

According to Mr Goldman, no matter the property price, the same key principles of good presentation and a fair price apply in order to achieve a timely sale.

"Properties that tick most of the right boxes are getting the most buyer attention," he said.

"We should also point out that the current market makes it very important to get pricing correct to attract the right buyer groups."

Business partner and brother Mark Goldman said the recent rate rises from the Reserve Bank and major lenders had certainly been felt, but buyers were still out there, and sales were being made.

"Our observation is that despite the impact of these financial developments, on the whole eastern suburbs buyers are more driven by confidence - which they retain in local real estate over the longer term," he said.

 

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Outlook steady for Sydney's eastern suburbs
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