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Randwick Real Estate Market Trends & Future Outlook
Randwick offers the best of beachside and city living, with vibrant shopping, dining, and green spaces. Its proximity to Coogee Beach, UNSW, and top medical facilities makes it a prime choice for homeowners and investors alike. With strong property demand and rental appeal, Randwick is a standout suburb in Sydney’s east.
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A Snapshot of Trends and Influences
Randwick, nestled in Sydney’s eastern suburbs, seamlessly combines coastal allure with urban sophistication, making it a prime destination for homeowners and investors alike.
Lifestyle and Amenities
Residents of Randwick enjoy a vibrant lifestyle enriched by diverse shopping precincts, a variety of dining options, expansive parks, and cultural landmarks. The suburb is home to notable institutions such as the Royal Randwick Racecourse, the University of New South Wales, and the Prince of Wales Hospital, contributing to its dynamic community atmosphere. Its proximity to Coogee Beach further enhances its appeal, offering residents easy access to seaside recreation.
Market Statistics
Based on the provided data:
- Total Dwellings: 17,050
- Sold Units: 439
- Sold Homes: 205
This translates to approximately 2.6% of units and 1.2% of homes sold, indicating a dynamic market with opportunities for both buyers and investors.
Rental Demand
Randwick’s rental market remains robust, with houses commanding a median rent of $920 per week and a rental yield of 2.19%. Units have a median rent of $840 per week, offering a rental yield of 3.74%. The suburb’s proximity to educational institutions and healthcare facilities contributes to consistent rental demand.
Conclusion
Randwick’s blend of lifestyle amenities, strategic location, and ongoing developments make it a compelling choice for property buyers and investors. The suburb’s real estate market continues to thrive, offering promising prospects for those looking to invest in Sydney’s eastern suburbs.
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