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Despite the recent winter property market cool-down, there are still some active hotspots, Raine & Horne chief executive officer Angus Raine has said.
According to Mr Raine, listings in many Sydney suburbs have been up since April. He said this is creating symmetry between buyer demand and supply.
“This is maintaining robust prices in those locations with median prices typically above $800,000,” Mr Raine said.
Leading performers include inner and medium ring suburbs such as Annandale, Bronte, Darlinghurst, Epping, Killara and Zetland.
Raine & Horne Bondi Beach licensee-in-charge Mary Anne Cronin said the niche market Bronte posed opportunities for sellers due to the shortage of homes available.
“It’s a small suburb which has some fabulous homes. It’s also tightly held, so there is a shortage of properties for sale, which helps boost demand and prices,” Ms Cronin said.
According to Ms Cronin, units, in particular, have been in short supply.
“For instance units in a 1970s-style block in Belgrave Street, Bronte sold for around $600,000 two years ago.
“A similar unit in the same block recently sold for $880,000,” Ms Cronin said.
In Sydney’s north west, Raine & Horne Epping principal John Fry said excellent schools and public transport are underpinning local property prices.
“Macquarie University is also only a hop, step and jump away,” Mr Fry said.
“Epping is also a rail hub and commuters can take trains to Strathfield, Chatswood and Hornsby.”
And in the inner west, Raine & Horne Annandale principal Vincent Montano said the size of the quaint inner city suburb meant it has traditionally enjoyed high clearance rates.
“Even with some recent apartment developments, it’s still tightly held with only around 3,500 properties in Annandale,” Mr Montano said.
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