The real estate market knows no match when it comes to Sydney’s eastern suburbs.
Especially when we’re discussing where you should invest $3 million dollars.
What does $3 million looks like?
By anyone’s measure, $3 million is a very healthy budget. Depending on where in the Eastern suburbs you’re looking to buy, you’ll find that $3 million can score an array of stunning properties.
One of the unique, enviable aspects of Sydney’s eastern suburbs is the variety it offers its residents in terms of lifestyle. At any one time, you can be near some of Sydney’s iconic beaches, or in the heart of luxury shopping or trendy café scenes. Plus, this area plays host to some of the most coveted schools in Sydney.
When it comes to picking your location within the east, $3 million will undoubtedly secure you an enviable, family friendly property. Ultimately it depends on what suits your lifestyle and preferences. But wherever you reside, we’re sure the charms of Sydney’s east will capture you for the long run.
As of May 2019, North Bondi houses had a median price of $2,520,000, meaning that at the $3 million marks you could potentially purchase a renovated four bedroom house. Across in Woollahra the median price comes in at $3,177,500 and could see you settled in a two or three bedroom property, with access to a parkside lifestyle and conveniences.
House or unit?
The $3 million dollar mark will make way for a selection of medium-sized homes and spacious apartments, perfect for couples or families.
If it’s water views you’re after, Elizabeth Bay is the perfect place to find a stunning two or three bedroom apartment with views to match the décor.
Luxury apartments offering two or three bedrooms are also a great drawcard for the Surry Hills market at $3 million. New build units offer sweeping views of the city skyline and will set you at the front door of the vibrant inner-city scene.
If you’re after an established home, Paddington and Surry Hills have a host of Victorian and Federation two-story terraces that sit comfortably at this price point. With classic charms and modern luxuries, it’s hard to go past these gems.
How much space will you get?
For $3 million in Sydney’s east, you’ll have your pick when it comes to your preferred amenities, views and living spaces. Not only will most units at this price point offer three bedrooms or more, but you’ll also reap the benefits of prime locations, architectural designs and additional features such as parking, outdoor spaces and penthouse-style luxuries.
The cooler market has provided a great opportunity to upsize from an existing home, and buy a house in Sydney’s eastern suburbs with two, three or sometimes four bedrooms. At this price point, most two-storey terraces and historic homes will have undergone renovations to provide open living spaces and modern design elements.
Where can you buy for under $3 million?
CoreLogic data shows that at this price point suburbs with a median house sale price below or close to $3 million dollars in Sydney’s east are:
Surry Hills: $1,700,000
North Bondi: $2,500,000
Bondi Junction: $2,100,000
Properties we have sold between $2,500,000 – $3,400,000
126 Windsor Street, Paddington
This extra-wide fronted, two-storey terrace offered beautifully updated rooms and a paved outdoor space to capture sunlit afternoons.
246 Glenmore Road, Paddington
Natural light and historic elegance define this renovated Victorian terrace. With multiple bathrooms and bedrooms, this home provided the perfect place for a family or couple in the heart of Paddington.
6/313A Edgecliff Road, Woollahra
This art deco-style three bedroom apartment offered luxurious touches and stunning water views, as well as an entertainer’s dream kitchen.
24 Underwood Street, Paddington
For just over three million dollars, this open-plan terrace was full of contemporary elegance and spacious living spaces that encouraged entertaining.
Sydney’s Eastern Suburbs Market Snapshot
A detailed annual assessment of the property market focusing on the Eastern Suburbs of Sydney, Australia.