About the Eastern Suburbs
The Eastern Suburbs are located to the east of Sydney’s CBD and extend from Woolloomooloo over to the beaches and down to La Perouse. The eastern suburbs contain the most sought after real estate and is home to some of the most expensive properties in Australia due to houses on large blocks of land with captivating north facing views of the harbour and proximity to the CBD.
Major attractions of the eastern suburbs include the world famous beaches including Bondi Beach, the 360 hectare Centennial Parklands, the Royal Botanic Gardens, numerous art galleries, high end shopping, the Royal Randwick Racecourse and the University of New South Wales. Many of Sydney’s top schools are also located here, making this a prime area to own property. Houses and apartments for sale in the eastern suburbs don’t stay empty for long.
Eastern Suburbs Property Market
Many people aspire to buy a home in the eastern suburbs, although as the market is constantly in demand, it is out of reach for most people with a median property price of $1.871 (including the city area) according to Domain. Despite the prices, you won’t see many for sale signs as property is held tightly and snapped up quickly.
The most expensive property sold to date was Mr Packer’s estate in Vaucluse, however Point Piper holds the record for the most expensive suburb in Australia. Vaucluse has a median house price of $3.85 million, while Point Piper homes sold for around $6.365 million in 2015. Property closer to the airport is obviously more affordable, and has an entry point of around $1.4 million to buy a freestanding home.
House types in the eastern suburbs range from charming terraces and heritage listed freestanding homes dating from the 1800’s to converted warehouses in Woolloomooloo and modern trophy homes in Vaucluse and Rose Bay and beautiful apartments with harbour and/or ocean views.
Apartments are also particularly popular close to the waterfront, between Surry Hills and Bondi and along the Eastern Suburbs train line corridor due to their relative affordability (approximately 1/6 of the median house price in Centennial Park) and proximity to amenities.
With so many options available in the Eastern Suburbs it’s helpful to have a local expert buyers agent who is aware of the current area’s real estate trends and can help you make the best decision based on your individual needs. While the area is full of beautiful homes and apartments, it’s equally important to factor in the investment potential and buy a house that is both a financial asset and a wonderful home to live in. As buyers agents it’s our job to help you find the property which fulfils your requirements on every level. Eastern Suburbs property price growth in 2016 is likely to moderate slightly from 2015 levels but still grow in the mid to high single digits due to a lack of housing supply and ongoing population growth.
Location and Transport Links
The Eastern Suburbs train line runs from the city to Bondi Junction, with bus connections from there to surrounding areas including Bondi Beach. Ferries also service suburbs fronting Sydney Harbour with stops at Potts Point, Darling Point, Double Bay, Rose Bay and Watsons Bay. Buses service the remainder of the Eastern Suburbs and have frequent and rapid services to the CBD via dedicated bus lanes on main transport spines such as Anzac Parade. Light rail will also connect Kingsford and Randwick to Circular Quay and Central Station via Surry Hills by the end of 2017. These add an additional layer of convenience to properties in the eastern suburbs.
Many people prefer to drive from home to the city though, which is made easier due to the cross-city tunnel and the M1 freeway which links to the Sydney Harbour Bridge and tunnel.
Shops and Restaurants
The Eastern Suburbs is known for its shopping, and visitors come from around the world to buy and shop here. As mentioned above, Double Bay is the go to place for boutiques and high end goods, while Everleigh and Paddington markets are more suited to handmade goods and knickknacks. Westfield Bondi Junction is the third largest shopping centre in Australia by number of stores (499). These are just a stone’s throw away for home owners in the area.
Schools and Educational Facilities
Many of Sydney’s most prestigious schools are located in the Eastern Suburbs including SCEGGS, Sydney Grammar School, Sydney Boys, Sydney Girls, Kambala, Ascham, Moriah College, Kincoppal, Reddam House, Cranbrook and The Scots College.
The University of New South Wales is located in Kensington and was recently ranked in the top 5 Australian universities by the Australian Research Council. The University of Sydney is also within easy reach via bus.
These well regarded schools and universities ensure that the area is always demand by families and students, which is good news for both capital and property rental prices.
Recreation and other Amenities
Eastern Suburbs home owners love visiting one of the many beaches along the coast and strolling between them via the Bondi to Coogee Walk. Off-leash dog parks along the way such as Burrow Park are popular with pet owners and have panoramic ocean views. Houses close to parks are always in high demand.
Other notable parks include the Botanic Gardens and Centennial Parklands, the latter of which offers many recreational activities including walking, running, cycling, skating, picnics and barbeques, playing in the playgrounds, field, track and court sports, golf and horse riding. The Parklands also houses major sports grounds and entertainment centres such as Allianz Stadium, Sydney Cricket Ground and Moore Park Showground. The Entertainment Quarter includes more event spaces including Hordern Pavilion and has additional entertainment options such as Hoyts movie theatre, ten pin bowling and an ice skating rink in winter. In summer, Centennial Park is home to an outdoor cinema. Bondi and Mrs Macquarie’s Point also have seasonal outdoor cinemas.
Major public swimming pools include Prince Alfred Park Public Pool in Surry Hills, Andrew ‘Boy’ Charlton Pool, which has a stunning waterfront location looking over Woolloomooloo Bay and Cook and Phillip Park Aquatic and Fitness Centre on the edge of the CBD near Hyde Park, which houses multiple pools as well as a fitness centre and a sports court.
Buying a home in the Eastern Suburbs offers a great lifestyle and appeals to a number of buyers. There is a nice variety of property for sale and the area caters for everyone from families and investors. Our buyers agents love helping people find property in the Eastern Suburbs as there are some truly spectacular properties to be found.
Suburbs and Areas within the Eastern Suburbs:
If you’re looking for real estate for sale in the Eastern Suburbs region it’s worth taking the time to familiarise yourself with the various suburbs as they each have different personalities.
The Eastern Suburbs contains four council areas: Woollahra, Waverley, Randwick and Botany Bay.
Woollahra Municipal Council area includes the suburbs of:
- Bellevue Hill
- Darling Point
- Double Bay
- Elizabeth Bay
- Paddington (part)
- Point Piper
- Rose Bay (part)
- Vaucluse (part)
- Watsons Bay
These suburbs contain some of the most prestigious and expensive real estate in Sydney and Australia. With gun barrel views of the harbour and iconic Opera house, properties are tightly held and keenly sought after. The suburbs have an air of sophistication and elegance and each area has a unique class of its own.
Randwick City Council includes the suburbs of:
- Centennial Park
- Clovelly (parts are located in Waverley Council)
- Coogee Beach
- La Perouse
- Little Bay
- Maroubra Junction
- Matraville (parts are located in City of Botany Bay council)
- Phillip Bay
- Port Botany
- South Coogee
These suburbs are famous for Centennial Park, the Randwick Racecourse and the beautiful beaches at Coogee, Clovelly and Maroubra. A large student population surrounds the University of NSW and the Prince of Wales Hospital is major hub of employment in the local area. These suburbs provide a wonderful array of lifestyle opportunities close the beach and the city making it a highly sort after area to live and own real estate.
Waverley Municipal Council includes the suburbs of:
- Bondi Beach
- Bondi Junction
- Bondi North
- Dover Heights (parts located within Woollahra Council)
- Queens Park
- Rose Bay (parts located within Woollahra Council)
The Waverley area contains the world famous Bondi Beach with its eclectic mix of cafes and restaurants. The exclusive suburbs of Rose Bay and Vaucluse present a fine selection of high class properties from sprawling stately homes to older style apartments.
Botany Bay Council includes the suburbs of:
- Botany Bay
- Pagewood (parts are located in City of Randwick council)
- Sydney Airport (parts are located in City of Rockdale council)
These suburbs are situated closer the industrial hub of Botany Bay. The world famous golf course at Eastlakes also borders the nearby Eastlakes Shopping centre.