Property value increases in Elizabeth Bay have tracked just higher than the NSW average of 6.07% over the last 12 months.
Elizabeth Bay,2011 has offered an average of 7.95% return per annum in house price rises to property investors over the last three years.
Elizabeth Bay2011 is located in NSW which offers an average discount of -4.33% to property investors. Elizabeth Bay itself is showing figures that indicate -3.09% is the average achievable by property buyers investing in the suburb.
At number 441 in a list of fastest selling suburbs, Elizabeth Bay is in the TOP 30% of suburbs in Australia with an average of days on market 61.84 for properties listed there.
The NSW suburb of Elizabeth Bay, 2011 is in the Sydney local government area.
A harbourside location in Sydney's Eastern suburbs, Elizabeth Bay has shown above-average growth over the last year, but previous price corrections could mean there are opportunities to buy under market value.Full summary
Information supplied by:
A harbourside location in Sydney's Eastern suburbs, Elizabeth Bay is approximately 3km from the CBD. It’s shown above-average growth over the last year, but recent price corrections could mean there are opportunities to buy in under market value.
“In the sub-$750,000 market units would appeal to an investor with a variety available to suit a number of budgets,” says Herron Todd White’s NSW residential director, Kim White. “Elizabeth Bay has a variety of architecture styles with units predominately from the art deco period of the 1930s to 1970's multi level developments.”
Quick adds that the suburb has a strong rental base with the character of the area and location the major attractions. Local amenities are excellent, with plenty of bars, restaurants, cafes and shops within Elizabeth Bay, and the facilities of the CBD within walking distance.
“Obviously those with harbour views or high-profile developments will fall outside the $750,000 range,” says Quick. “One and two bedroom unit prices will vary dependent on building, floor level, aspect and level of internal fitout, although carpark on title is doubtful in this price range.”
Studios are also available for under $450,000, but Quick cautions that lenders may have mortgage restrictions for units with limited floorspace.