Elizabeth Bay is one of the places around Sydney Harbour that has a certain pull and sense of history. It is also proving to be a charming harbourside suburb with a recent shift we have noticed at SydneyLinks.
The cost of property in the suburb has increased for rentals and sales properties and sits significantly higher than Potts Points. This is a shift away from Potts Point to Elizabeth Bay, and the shift is a local one.
What the SydneyLinks team has found is that locals who have lived in surrounding suburbs, particularly Potts Point, are choosing Elizabeth Bay to live. Many we have spoke to put this down to lifestyle. ‘Lizzy Bay’ still has the proximity to services, transport and lifestlye but offers a direct connection to the outdoors and community within nature.
The bay itself allows locals to connect in green spaces and engage in recreational activities. This seems to have come on the backend of the gentrification of Potts Point from nightlife to daytime business and a post-Covid world where people seek lifestyle over location.
After so much time during Covid spent locked indoors, the homes we choose now are different. People prefer a place where they can entertain at home if they want to and they seek a closer connection with the outdoors.
“What can we say? Locals prefer the bay!”, Trisiana Muljono, Principal Agent.
If you’re looking for engaged and experienced agents to lease your property please contact our friendly team today.