Raine & Horne and PriceFinder nominate winter Sydney hot spots

Raine & Horne and PriceFinder nominate winter Sydney hot spots

The colder winter months are here, but Angus Raine, CEO of Raine & Horne, says with the RBA’s decision to leave interest rates on hold, there is still significant heat in select property pockets around Sydney. 

“Listings in many Sydney suburbs are up since April and this is creating symmetry between buyer demand and supply,” said Mr Raine.

“This is maintaining robust prices in those locations with median prices typically above $800,000.”

Kent Lardner, chief operating officer of PriceFinder commented that price growth in inner and medium ring suburbs with low vulnerability to unemployment, are healthy.

“Suburbs such as Annandale, Bronte, Darlinghurst, Epping, Killara and Zetland have increased by an average of 7% over the last 12 months. Likewise rents in these suburbs are also up 4%, which is on par with CPI,” said Mr Lardner.

“These inner and medium ring suburbs were subdued during the global financial crisis and are now enjoying healthy growth.

“Leading performers include Bronte home units, which are up $100,000 over the last twelve months, while Killara houses have also jumped $100,000 over the same period.”

Mary Anne Cronin, licensee-in-charge of Raine & Horne Bondi Beach commented that Bronte Beach is a niche market. “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,” said 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,” added Ms Cronin, who also confirmed apartments, unrenovated homes and single level semis were very popular with buyers.

In Sydney’s north west, John Fry, Principal, Raine & Horne Epping, says excellent schools and public transport are underpinning local property prices.

Mr Fry nominated Cheltenham Girls and Epping Boys High, which educated Aussie Home Loan’s John Symond, Australian Olympic Committee president John Coates and rugby commentator Gordon Bray, as major schools attracting home buyers to Epping. “Macquarie University is also only a hop, step and jump away,” said Mr Fry.

“Epping is also a rail hub and commuters can take trains to Strathfield, Chatswood and Hornsby.

Mr Fry confirmed group numbers at open homes and enquiries have fallen slightly, but the number of motivated buyers for Epping homes is holding steady.

Named after Rum Rebel Lieutenant George Johnston’s Scottish birthplace, Annandale is one of Sydney’s truly historic suburbs and features some of the inner city’s most magnificent streetscapes such as mighty Young, Annandale and Johnston streets.

Raine & Horne Annandale principal Vincent Montano, said, “Annandale is a relatively small suburb and 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.

“We are also seeing good attendances at Annandale open homes and prices are steady and highly sought after homes are still attracting plenty of attention,” confirmed Mr Montano.

To help vendors achieve winning property sales this winter, Raine & Horne has introduced a new Global Database service, which enables homeowners to match their property with buyers and investors anywhere in Australia.

“When a vendor chooses a Raine & Horne agent, the details of the property are matched immediately with potentially tens of thousands of Raine & Horne registered buyers around Australia,” explained Mr Raine.

“Ultimately, a successful sale involves spreading the word to as many motivated buyers and investors as possible. This is where Raine & Horne’s Global Database will be a big help to vendors this winter.”

To find out more about Global Database, contact your local Raine & Horne office.

Raine & Horne is an iconic Australian property firm, with more than 400 offices worldwide.

Also an established Superbrand along with the likes of Qantas, Vegemite, Woolworths and Myer, the company has four distinct property service brands including Raine & Horne Residential, Raine & Horne Commercial, Raine & Horne Financial Services and Raine & Horne Rural.

For further media information contact:

Rebecca Williams, National Systems & Support Coordinator, Raine & Horne

Ph: (02) 9258 5410