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New record set for Newtown apartment

By Danielle Banton

Amidst last year’s fears of a drop in the Sydney property market or burst of the proverbial bubble, trepidation can be laid to rest as this market just keeps soaring, seeing an almost 20 percent increase since only February this year! As they say “The proof is in the pudding” and this pudding happens to be a 168 sqm, triple level Newtown apartment, which had parking, a 55 sqm rooftop terrace and balconies from the bedrooms.

It was bought for $1 million in February, opposite Royal Prince Alfred Hospital, it fetched $1,183,000 at auction – $83,000 more than the owners were hoping for, and 18.3 % more than it sold for in February when it exchanged for $1 million.

Director at Ray White Double Bay, Michael Krimotat, says “Suburbs in around Newtown have been among the most popular with buyers during the recent boom, this can be attributed to lack of stock in the surrounding areas, seeing the “fringe” suburbs catching up.”

For some solid and professional advice about property, look no further than Ray White Double Bay.

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