Sydney’s hot pocket desirable suburb
Much of Sydney’s inner metro suburbs constantly perform well in the property market and continue to be on the most wanted lists of many buyers and renters. Woolloomooloo has has it’s fare share of the spotlight over the years but is currently performing above average.
RealEstate.com.au lists the current median price for property sales in the suburb at $1.7m, a 27.43% increase on sales in the suburb at this time two years prior. Compared to the well performing rental yield of neighbouring Potts Point, Woolloomooloo is currently performing at 1.7% better.
Recently sold, 2 bedroom, 2 bathroom townhouse in Brougham st, Woolloomooloo
Recently, discussion around the gentrification of Kings Cross and parts of bordering Potts Point has shown the rapid increase in attention from property investors and a new type of renter to the area. These suburbs have attracted interest in renters from higher socioeconomic groups. The knock-on effect has begun to affect surrounding suburbs and in particular, Woolloomooloo.
“Woolloomooloo has always been popular because of it’s location on the harbour and proximity to the city,” says principal agent Trisiana Muljono from SydneyLinks.
Property at all ends of the scale continue to perform well and remain in high demand from sale right through to leasing. Sales agent Simon Hohnen along with Trisiana recently sold a popular townhouse at 118 McElhone Street. The fashionable enclave proved popular with it’s privacy and easy access to popular eateries, the Woolloomooloo Wharf, Art Gallery and the life of the Cross only a short stroll away.
The SydneyLinks team
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