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The heat is on in the eastern suburbs

By Danielle Banton

Prestige property can be found all over Sydney, but hardly in as much abundance as when you look at property in the eastern suburbs. From the top of the line price range found in property at Point Piper through to the stunning beachfront life in Bondi, there is a wide range of luxury property available to buy and rent. It’s the dream lifestyle that you know you deserve.

And it seems more and more Australians are seizing the day and treating themselves to a fantastic luxury piece of real estate, suggesting the eastern suburbs are a hot ticket.

CoreLogic RP Data recently released figures showing the breakdown of home sales in Australia by price bracket. In Sydney, a huge 25.6 per cent of all 2014 sales happened in the $1m to $2m price bracket. This is more than any other price bracket recorded for the Harbour City, meaning these luxury properties are the most popular around.

Meanwhile, a further 6 per cent of all transaction occurred above this $2million mark – so nearly a third of all 2014 sales were in the prestige market.

That means nearly a third of all the property sold in Sydney last year came in at over a million dollars. And when you consider that the RP Data statistics for the highest median prices on units and houses point to Dawes Point and Centennial Park respectively, it is clear that the money is right in the heart of the east.

If you want to buy or rent in the eastern suburbs, you’re making a great decision. The lifestyle here is unparalleled, and it looks like the rest of the Sydney market is standing up and taking notice at the moment. If you want to get the edge when finding a rental or have our property management team handle your investment, talk to Ray White Double Bay.

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