Sydney’s unit market remains dynamic, with various suburbs experiencing different trends in pricing, rental yields, and market activity. The following report provides an overview of unit prices, growth rates, and rental performance in key suburbs across Sydney’s Eastern Suburbs. These insights help both investors and homebuyers understand the current market and potential long-term value, especially considering the predicted price growth of 4% per annum over the next ten years. This projected growth helps assess potential investment returns and capital appreciation in each suburb.
Bellevue Hill
In the Bellevue Hill unit market, the median price for units currently stands at $1,590,000, which represents a significant growth of 16% over the past year. There were 142 unit sales during this period, with units typically spending 29 days on the market, indicating a fast-moving market driven by high demand.
Rental performance is also robust, with the median rent for units at $920 per week, yielding a rental return of 2.92%. Bellevue Hill remains an attractive option for both investors and owner-occupiers due to its prestigious location in Sydney’s Eastern Suburbs and strong market fundamentals.
10-Year Price Projection: $2,354,016
Bondi
In the Bondi unit market, the median price for units is currently $1,375,000, showing a growth of 5.77% over the past 12 months. The market remains active, with 178 units sold in the last year, and units spending an average of 30 days on the market. This indicates strong buyer demand despite rising prices.
Rental yields in Bondi are also favourable, with the median rent for units at $950 per week, generating a rental yield of 3.58%. These figures demonstrate that Bondi continues to be a highly desirable location for both investors and renters, driven by its beachside appeal and proximity to Sydney’s city centre.
10-Year Price Projection: $2,034,007
Bondi Junction
In the Bondi Junction unit market, the median price for units currently sits at $1,260,000, showing steady growth over the past year despite fluctuations in Sydney’s broader real estate market. Unit prices in the area increased by approximately 6% in the last 12 months, based on 186 unit sales, with properties spending an average of 42 days on the market.
Rental demand remains strong, with the median rent for units at $899 per week, yielding an average rental return of 4.05%. Bondi Junction continues to be a desirable location due to its excellent connectivity and lifestyle offerings, appealing to both investors and owner-occupiers.
10-Year Price Projection: $1,866,987
Darlinghurst
In the Darlinghurst unit market, the median unit price is $900,000, which reflects a 12% decline over the past year. Despite the price drop, there were 232 unit sales during this period, showing ongoing activity in the market. Units in Darlinghurst typically spend an average of 36 days on the market, indicating a moderate level of buyer demand.
Rental returns remain attractive, with the median rent for units at $715 per week, yielding a rental return of approximately 4.0%, which is strong for investors. While buyer demand has decreased by 6%, Darlinghurst still presents opportunities, particularly for those seeking rental income.
10-Year Price Projection: $1,332,373
Darling Point
In the Darling Point unit market, the median price currently stands at $2,350,000, marking a significant 19.5% decline over the past year. During this period, 138 units were sold, with properties spending an average of 44 days on the market, reflecting a slight drop in demand.
Amongst the most expensive unit sale recorded in this timeframe was a luxury apartment at 38 Yarranabbe Road, which sold for an impressive $14 million.
Rental performance remains strong, with the median rent for units at $1,195 per week, generating a rental yield of around 2.29%. Despite the recent price decline, Darling Point continues to be a highly sought-after suburb, thanks to its prestigious status and close proximity to Sydney Harbour.
10-Year Price Projection: $3,478,640
Edgecliff
In the Edgecliff unit market, the median price for units is $1,380,000, reflecting a 6.2% growth over the past 12 months. There were 53 unit sales in the past year, with units spending an average of 45 days on the market.
Amongst the most expensive unit sale in Edgecliff was a luxury apartment at 339-341 Edgecliff Road, which sold for $4.8 million.
For rentals, the median rent for units is $780 per week, offering a rental yield of 3.04%, which provides solid returns for investors. The most expensive rental in Edgecliff is priced at $1,200 per week, underscoring the high demand for premium properties in this suburb.
10-Year Price Projection: $2,046,291
Potts Point
In the Potts Point unit market, the median unit price is $860,500, reflecting a 7.8% decline over the past year. There were 206 units sold in the last 12 months, with units typically spending an average of 48 days on the market.
Amongst the most expensive unit sale in Potts Point over the past 12 months was a luxury apartment at 1/42 Macleay Street, which sold for $13.7 million in April 2024.
The rental market for the area maintains strong demand, with median rents at $675 per week, yielding approximately 3.47%.
10-Year Price Projection: $1,274,550
Maroubra
In the Maroubra unit market, the median unit price is currently $1,050,000, reflecting a growth of 9.4% over the past 12 months. There were 288 unit sales during this period, with units spending an average of 37 days on the market, indicating solid demand.
Amongst the most expensive units sold during this time was an apartment at 90-92 Marine Parade, which sold for $4,500,000 on January 2024The rental market remains strong, with the median rent for units at $800 per week, generating a rental yield of approximately 4.06%. Combined with low vacancy rates around 0.7%, this suggests tight rental demand, making Maroubra an attractive market for investors.
10-Year Price Projection: $1,554,657
Rose Bay
In the Rose Bay unit market, the median price for units currently sits at $1,570,000, reflecting a 4% decline over the past 12 months. This area saw 147 unit sales in the last year, with units typically spending an average of 26 days on the market, indicating strong demand despite the price drop.
Amongst most expensive units sold during this time was an apartment at 1A Rose Bay Avenue Rose Bay, which sold for $9,657,000 on March 2024.
The rental market remains robust, with the median rent for units at $900 per week, providing a rental yield of approximately 2.91%. Despite the price decline, Rose Bay continues to attract investors due to its proximity to the harbor and premium lifestyle appeal.
10-Year Price Projection: $2,323,192
Randwick
In the Randwick unit market, the median unit price currently stands at $1,180,000, reflecting a strong growth of 10.5% over the past 12 months. This is based on 425 unit sales, with units spending an average of 31 days on the market, indicating steady demand.
Rental demand in Randwick remains robust, with the median rent for units at $800 per week, delivering a rental yield of approximately 3.72%. This makes Randwick a favourable location for both investors and owner-occupiers, with solid rental returns and growing property values.
10-Year Price Projection: $1,746,279
Rosebery
In the Rosebery unit market, the median unit price is $910,000, reflecting a 4% growth over the past 12 months. The area saw 266 unit sales in the last year, with units typically spending around 37 days on the market, indicating steady demand.
In terms of rental performance, the median rent for units is $830 per week, yielding a rental return of 4.06%, making Rosebery an attractive option for investors looking for solid rental income. The rental market remains tight, with vacancy rates low due to the area’s proximity to Sydney’s CBD and increasing demand.
10-Year Price Projection: $1,345,890
Conclusion
The information in this article, researched and written by Alan Weiss, is intended for general informational purposes only and does not constitute financial or investment advice. The projections and assumptions, including the 4% annual growth rate, are based on historical data and current market trends, which may not accurately predict future outcomes. Individual circumstances, economic conditions, and unforeseen factors can significantly impact property values and investment returns. Prospective buyers and investors are encouraged to conduct thorough research and seek professional advice tailored to their specific situation before making any property investment decisions.