In a market where smart, quality product is in high demand and space is at an all time premium, it’s little wonder that we’re seeing such a strong resurgence in buyer interest for Sydney’s iconic semi-detached home.
Smart private developers are uncovering treasure troves hidden in plain sight throughout Sydney’s Eastern Suburbs, where single, free-standing homes present the perfect opportunity to subdivide and accommodate two families in luxurious homes, with outdoor areas that they would be hard pressed to find in the apartment market.
A recent survey by the Grattan institute suggests a significant shortfall in the number of semi-detached homes being built relative to demand for them.
This is no different in Sydney’s most highly sought-after suburbs where empty-nesters are looking to downsize to homes that can accommodate grandchildren sleep overs, and where young families aspire to their own private patch of land amongst the communities they’ve grown up in.
Prices aren’t “half” bad
Recently our office has seen a significant spike in the prices achieved for quality semi-detached homes as well as an increase in the number of new duplex developments coming to market. Our recent record sale of 6 Salisbury Road, saw $4.75 million paid for a semi-detached home in Sydney’s Rose Bay.
Complete with a pool, separate studio and secure off street parking, this home had recently undergone a spectacular redesign by acclaimed Sydney architect Julian Brenchley, combining classic period details with a sophisticated modern twist to provide a low maintenance living environment with seamless transition to lush tropical gardens, which saw the property achieve a sales result beyond all expectations.
In Bellevue Hill we sold a 4 bedroom semi at 57B Balfour Road on 374sqm of land for a remarkable $3.95 million, setting a benchmark for duplexes in this blue ribbon suburb. The semi presents an opportunity to secure a 4 bedroom home in an area where the free standing house equivalency would see prices starting at the $4.5 million mark.
New stock hitting the market
We’re seeing a surge in this type of stock coming to market, having recently listed a number of new developments that will bring designer duplexes to Rose Bay and Bellevue Hill alone. 32 Suttie Road in Bellevue Hill will see two magnificent, contemporary, multi-level homes on a single block.
9 and 9A Albermale Avenue, Rose Bay sees expansive living for young families as well as busy executives and empty nesters. With easy level access from the street, a flexible floorplan containing 4 large bedrooms and beautiful open plan ground floor entertaining opening onto level manicured gardens with pools.
17 and 17A Fairweather Street, Bellevue Hill is due for completion in 2019 and will offer buyers a superb opportunity to buy into this prime multi-million dollar neighbourhood. Sup
remely convenient this development is situated only footsteps to Bellevue Hill Village, close to shops and schools and only moments to Double Bay village, waterfront parks & ferries.
With a flexible floorplan spanning easily over 2 levels, these homes offer a generous 4 bedroom floorplan with internal lift providing easy level access from the street right through to the bedrooms. The gardens are stunning with sundrenched low maintenance level landscaped gardens & pools. There is also basement parking and level gardens.
The trend is set to continue in Sydney throughout 2018 as buyers continue to strive for their own patch of grass and the prices of freestanding homes continue to rise beyond the means of most young families.
BORD DE L’EAU
Block of 3 | Rose Bay
Block of 3 | Bellevue Hill
Block of 6 | Vaucluse
Block of 6 | Dover Heights
(highest rate per sqm for Dover Heights)
Block of 20 | Double Bay
Block of 8 | Randwick
Block of 5 | Rose Bay
Block of 12 | Bellevue Hill
53 & 57 SUTTIE ROAD
(highest price paid for a semi in Double Bay)
Block of 20 | Vaucluse
Block of 3 | Bellevue Hill
Block of 10 | Coogee
9 ALBEMARLE AVE
Block of 2 | Rose Bay
32 SUTTIE RD
Block of 2 | Bellevue Hill
D’Leanne Lewis is a regular contributor to Boutique Developer. She has been named the Real Estate Institue of Australia’s Australian Residential Salesperson of the Year and is a three-time winner of the NSW Residential Salesperson of the Year Award.
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