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.
After a bumper April, the team have managed to surpass their sales record again, with the month of May setting a new record of over $255,000,000 of transactions! With 69 properties sold, we are so happy to have helped 140 individuals and families to the next stage of their lives … Read more
A masterclass from Warren Ginsberg and Elliott Placks on how to correctly take advantage of the market and deliver the best results for their clients. Congratulations to our vendors and the lucky new owners of this luxury home! Demand continues to grow in the eastern suburbs as stock levels combined … Read more