Bondi Junction, in the heart of Sydney’s eastern suburbs, is popular with home owners and investors alike. The location has many benefits – it’s very centrally located to the city and is a major transportation hub for commuters, yet walking distance from Bondi Beach, Centennial and Queens Park, and Oxford Street. The Westfield Shopping Centre and its surrounds provide exceptional shopping, dining and entertainment options. There are many reputable schools, pre-schools, and colleges in the area. Bondi Junction provides a lifestyle and convenience that appeals to many demographics, including students, young professionals, families and retirees.
It’s no surprise then that real estate in Bondi Junction is always popular, and limited demand has resulted in the achievement of strong sale prices and high rents. As property managers, we find quality properties in Bondi Junction are very desirable and lease quickly to quality tenants. It is therefore an excellent area in which to purchase investment property.
Apartments, in particular, have been achieving excellent results. The imbalance of demand versus supply was on show in March this year with the first release of the Vue Bondi Junction development. The entire release of 111 apartments sold out in just two hours, with prices ranging from $595,000 for a south facing one bedroom apartment to $1.9 million for a three bedroom apartment on the 16th floor. According to news reports, most buyers were locals, with an even split of owner-occupiers and investors.
Also indicative of strong demand is the recent high sale price of an art deco block of six apartments in Birrell Street, Bondi Junction. Despite having no parking, the block achieved $4 million at auction on 13 August 2014.
Hart Estate Agents is currently selling 117 Bronte Road, Bondi Junction. Lead agent, Alex Hart, believes that the property is an excellent investment opportunity.
“It’s an impeccably maintained block of 12 apartments and one shop just 500 metres from Westfield Bondi Junction.
It consists of two, approximately 11 year old, well-designed buildings, with a central tropical courtyard garden. The buildings contain six one bedroom apartments and six two bedroom apartments – each with secure underground parking and a separate store room – and a shop.
The location is fantastic. Bondi Junction has been going from strength to strength, with fierce competition for apartments and a shortage of supply.
We have managed the building since its completion. It is well designed, finished and maintained, and has always been a wonderful property to manage, not only attracting quality tenants and high rents, but having very low tenancy turnover.”
117 Bronte Road will be auctioned on 2 December 2014. It is open for inspection on Thursdays and Saturdays between 12pm and 1pm. Click here for further information or call Alex Hart on 0418 245 018.
Do you have a property in Bondi Junction that you’d like to sell or lease? Contact Alex on 0418 245 018 to find out how we can help you to achieve the best possible result, or click here to request an obligation free appraisal of your property.
Hart Estate Agents is a dynamic, results driven real estate agency specialising in Sydney’s eastern suburbs. Principal Alex Hart leads an experienced and tenacious sales team. Click here to join our Exclusive Buyer Database. Click here to receive our real estate news and listings straight to your inbox.