Small apartments are still attracting big bucks from buyers

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BUYERS are still eager to get their hands on tiny apartments across Sydney and the Lower North Shore is no exception.

Two properties — one, a studio in Cremorne and the other, a one-bedroom apartment in Crows Nest — have been listed with Richardson and Wrench Mosman. Agents Geoff Grist and Tanya Barrett have seen strong interest in both so far. However Mr Grist said the apartments were appealing to different buyer types. “The studio is appealing to people with super funds who don’t want to borrow money. They have the cash in their fund,” Mr Grist said. “They can get a good rental return, higher than on a one-bedroom over all.”
Inside 603/287 Military Rd, Cremorne.

Inside 603/287 Military Rd, Cremorne.Source:Supplied

CoreLogic's November NSW housing market update

  Mr Grist said there had also been interest from mum and dads looking to purchase the property for their children to live in. “The beauty of that studio in Cremorne is its location. There is a bus out the front that goes straight into town, there’s a concierge and security and it’s an easy living situation with the IGA in the same building.” He said the unit would have a rental price of about $360 per week. The studio at 603/287 Military Rd has a guide of $350,000 — $370,000.
The one-bedroom unit at 54/236 Pacific Highway, Crows Nest on the other hand has seen interest from owner-occupiers. It has a guide of $775,000 — $825,000. “It’s really unusual. It has a fantastic view across the Anzac Bridge and inner west and for that reason its attracting people who are really looking to live there,” Mr Grist said.
54/236 Pacific Highway, Crows Nest is a one-bedroom unit with a guide of $775,000 — $825,000

54/236 Pacific Highway, Crows Nest is a one-bedroom unit with a guide of $775,000 — $825,000Source:Supplied

The bedroom at 54/236 Pacific Highway, Crows Nest.

The bedroom at 54/236 Pacific Highway, Crows Nest.Source:Supplied

While he has noticed less people showing up to open homes of late, he said it meant only serious buyers were now house hunting. “I haven’t seen a big change in price. It’s more a case of people being realistic and that they just want to get on with it,” he said.


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