Selling points: Edgecliff is just 3km from the Sydney CBD and has excellent transport links with both trains and buses. It offers residents a very interactive lifestyle with plenty of parks and recreational facilities on hand. Rushcutters Bay in also in close proximity, making for properties with terrific outlooks in the area.
According to Residex, investors in the area can expect healthy future growth with 8% pa over the next eight years for houses. Apartments are expected to grow at a lower rate of 6% pa, however returning a greater yield of 5% as opposed to 2% for houses.
Most sought after properties: The two predominant types of property in Edgecliff are terrace houses and apartments. When buying apartments, look for two bedrooms in a good location, preferably with views. Investors looking to purchase a terrace house should aim for three bedrooms with good size living areas, away from main roads.
Most common properties: The suburb is characterised by older style apartment buildings and late 19th century Victorian terrace houses. There are also renovated workers’ cottages and a range of new modern apartment complexes in the neighbourhood.
Top amenities: The Edgecliff Centre offers a complete retail hub catering to local residents for all their necessities. Due to its central location, Edgecliff offers close proximity to a wide variety of sporting amenities. It is also within walking distance to Rushcutters Bay and only a short drive to Bondi Junction, which also provides a complete shopping and recreational experience. It’s only a short skip to the stylish Double Bay or Bondi Junction shopping precincts.
Local industry and business: Edgecliff is predominantly a small residential suburb offering a relaxed lifestyle; retail would be considered the largest industry in the area.
Recent changes: The cross city tunnel opened in August 2005, which provided much quicker road transport access for commuters.
Best streets: Edgecliff consists of only a handful of streets, three of which are main arterial roads servicing the Eastern Suburbs region. Albert Street offers an elevated landscape with low traffic volumes. This street is lined with a combination of terrace houses and several larger apartment buildings offering great views.
Public transport: Local public transport is very good with Edgecliff station providing for an easy rail commute into the CBD. There are also CBD bus services (route 352 to Wynyard) available running along New South Head Road.
Main arteries: New South Head Road is the main arterial road servicing the area. It provides for an easy commute into the CBD, as well as the cross city tunnel linking the eastern suburbs with the Western Distributor. This main road is also linked to the eastern distributor and provides a link to the Bradfield Highway connecting the eastern suburbs to Sydney’s northern districts.
Another arterial road is Ocean Street, which links Edgecliff to the beach suburb of Bondi. This road provides access to one of the world’s most famous beaches.