5 Inner East Sydney Properties Under $1 Million
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5 Inner East Sydney Properties Under $1 Million

The tightly held locale boasts is coveted and convenient.

By Terry Christodoulou
Mon, Feb 21, 2022 3:48pmGrey Clock 3 min

While apartments and unit prices haven’t kept pace with the ascendance of housing prices, Sydney’s tony inner east, that flanks the CBD, remains prime position for its easy access to the amenities of the city and proximity to the eastern beaches. Here, we’ve collated five stylish pads to call your own under $1 million.

1/196 Forbes Street, Darlinghurst, NSW 2010

A short walk to the CBD and Victoria Street cafes, this 78sqm 2-bedroom, 1-bathroom and 1-car parking apartment boasts a private street entrance with a small courtyard and secure parking with storage space. The residence is fitted with polished timber floors and sees an L shaped living area complemented by a separate kitchen, fitted with Smeg gas appliances and a dishwasher.

$995,000; raywhitetaylorandpartners.com.au

205/65 Cowper Wharf Road, Woolloomooloo, NSW 2011

Set within ‘The Anchorage’, in a world-class harbourside position opposite the famous Finger Wharf comes this generously proportioned 1-bedroom, 1-bathroom, 1-car parking apartment. Designed by award-winning architects, Eeles Trelease, it features a great open plan living/dining area complemented by parquetry flooring. With floor-to-ceiling glass leading onto a large covered balcony, it makes the perfect space for wining and dining courtesy of a sleek kitchen fitted with Miele appliances and stone benchtops.

$990,000; rwebay.com

5/46 Roslyn Gardens, Rushcutters Bay, NSW 2011

Offered here is a quintessential Art Deco character in generous scale within a boutique building ‘Lakemount’. The home is a dream inner-city pad with an oversized one-plus-study floorplan, leafy garden outlooks, ample built-in storage, renovated stone kitchen all within a walks distance to cafes, dining and public transport.

$900,000; bresicwhitney.com.au

 

805/23 Pelican Street, Surry Hills, NSW 2010

Contemporary and vibrant, this tidy abode features 1-bedroom and 1-bathroom in the enviable ‘Pelican’ security building. Within, the residence features a king-sized bedroom with built-ins, full sized galley kitchen with dishwasher and gas cooking, open-plan living and dining area with sliding glass doors to covered balcony. Further, the home is nearby to the bustling Crown Street, central station, buses and more.

Auction; wwre.com

 

7/50 Bayswater Road, Rushcutters Bay NSW, 2011

Soaring ceilings paired with oversized rooms typify this apartment found in a refurbished 1890s landmark building with interiors by Daniel Boddam. Here, the home sees period details elevated by the recent refurbishment such as herringbone flooring. custom cabinetry and Carrara marble benchtops all within close proximity to eateries with the city by foot, bus or train.

Auction; raineandhorne.com.au

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Data reveals house values have continued to decrease, but the rate has slowed as the RBA Board prepares to meet next week

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House values continued to fall last month, but the pace of decline has slowed, CoreLogic reports.

In signs that the RBA’s aggressive approach to monetary policy is making an impact, CoreLogic’s Home Value Index reveals national dwelling values fell -1.0 percent in November, marking the smallest monthly decline since June.

The drop represents a -7.0 percent decline – or about $53,400 –  since the peak value recorded in April 2022. Research director at CoreLogic, Tim Lawless, said the Sydney and Melbourne markets are leading the way, with the capital cities experiencing the most significant falls. But it’s not all bad news for homeowners.

“Three months ago, Sydney housing values were falling at the monthly rate of -2.3 percent,” he said. “That has now reduced by a full percentage point to a decline of -1.3 percent in November.  In July, Melbourne home values were down -1.5 percent over the month, with the monthly decline almost halving last month to -0.8%.”

The rate of decline has also slowed in the smaller capitals, he said.  

“Potentially we are seeing the initial uncertainty around buying in a higher interest rate environment wearing off, while persistently low advertised stock levels have likely contributed to this trend towards smaller value falls,” Mr Lawless said. “However, it’s fair to say housing risk remains skewed to the downside while interest rates are still rising and household balance sheets become more thinly stretched.” 

The RBA has raised the cash rate from 0.10 in April  to 2.85 in November. The board is due to meet again next week, with most experts still predicting a further increase in the cash rate of 25 basis points despite the fall in house values.

Mr Lawless said if interest rates continue to increase, there is potential for declines to ‘reaccelerate’.

“Next year will be a particular test of serviceability and housing market stability, as the record-low fixed rate terms secured in 2021 start to expire,” Mr Lawless said.

Statistics released by the Australian Bureau of Statistics this week also reveal a slowdown in the rate of inflation last month, as higher mortgage repayments and cost of living pressures bite into household budgets.

However, ABS data reveals ongoing labour shortages and high levels of construction continues to fuel higher prices for new housing, although the rate of price growth eased in September and October. 

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