Sydney’s real estate market is witnessing a new trend where property prices are coming down steadily, making homes more attractive to potential buyers and fence-sitters alike. However, some south eastern suburbs continue to fare well in terms of price growth and this is majorly backed by strong demand. Median housing unit prices have increased over the last 3 months in suburbs like Matraville, South Coogee, Clovelly and Botany. Even Pagewood has witnessed growth over the last three months in terms of home and apartment price increases which are estimated at roughly 20%.
Several of these suburbs are seeing growth on account of their attractive housing options, increasing demand from buyers and their size. South Coogee and Clovelly are smaller suburbs where aspirational homebuyers are majorly investing in. The former is directly located between the Maroubra Beach and Coogee and hence its huge popularity amongst well-heeled buyers. Matraville is a popular suburb for families and is slightly affordable as compared to areas like Maroubra and Kingsford.
Botany is also drawing homebuyers on account of value-for-money housing options. There is considerable development here and several new cafes and restaurants are also being launched here. People from Bondi and Coogee are seriously considering Botany in terms of housing units. Pagewood is drawing several young families with its stable property prices. Prices have increased by 6.4% and 12.9% in South Coogee and Matraville respectively while they have gone up by 1.3% and 4.8% in Botany and Clovelly respectively.
