Edgecliff houses rarely sold but this one is good value at $1.25 million-plus

There were 309 house sales in Paddington over the past 12 months, according to Australian Property Monitors data, but only eight in neighbouring Edgecliff, where apartment living dominates, accounting for around 80 per cent of the local market.

Unit blocks abound on New South Heath Road and in the suburb’s eastern pocket around Edgecliff Road. But tucked close to the suburb’s western boundary are a smattering of terraces with the advantage of a peaceful location still close to the Eastpoint Food Fair shopping mall and the train station which provides a two-stop, five-minute commute to Martin Place.

In a quiet cul-de-sac, this end terrace in a row of four is freestanding to the north and on a deep, sloping block.

It presents well with room to add further value if desired. There is a small bedroom upon entry with built-in storage and timber floors. A sky-lit bathroom is next door with a shower over the bath and a stone-topped vanity.

The main bedroom is full of natural light and comes with built-in wardrobes, a raked ceiling and a private balcony. With no neighbours to the rear of the property, the outlook is a leafy one through the treetops to the White City tennis courts and the green expanse of the Weigall sports ground.

A set of open-tread timber stairs lead down to the lower level living spaces. The combined living and dining room has a fresh coat of white paint and the floors are tiled in travertine. It opens through glass bi-fold doors to the back garden. This two-tiered space is paved and collects plenty of afternoon sunshine and could benefit from a makeover.

The separate kitchen, which has laundry facilities hidden behind cupboard doors, features pale green cabinetry, stone benchtops, a glass splashback and stainless steel appliances with a gas cooktop. There is plenty of space to install overhead cupboards for additional storage.

Agent Seaton Jones says the property offers good value in a highly desirable area.

“You would expect to pay more for the same terrace in Paddington,” he says. “This is a more affordable entry point into the housing market in the area.”

Jones says the property should appeal to a range of buyers and would attract about $850 a week in rent.

The owner says: “We love living so close to cafes, transport and the CBD in a quiet hidden street. We love the open-plan living, dining and outdoor area with its rare leafy outlook.”

Room for improvement:  Update the bathroom.

32 South Street, Edgecliff
$1.25 million +
2 bed 1 bath 0 car
Built circa 1880; renovated 2000s
Land 176 square metres
Inspect Sat, 10am-10.30am; Wed, 5.30pm-6pm
Auction October 24
Agent Ray White TaylorJones, 0405 361 197

Need to know:
Last traded for $892,500 in 2010.
Highest recorded house price in Edgecliff (past 12 months) $2.75 million for 76 Cameron Street in July, 2015
Average price for houses $1,906,833

Recent sales:
$1.24 million for 54 Cameron Street in November, 2014
$1,293,000 for 210 Underwood Street, Paddington, in March, 2014
$1.3 million for 10 Victoria Place, Paddington, in May, 2015
Source: Domain Group

Surrounding area:
If you’re looking to upgrade from an apartment but can’t yet afford digs in Paddington or Woollahra, keep an eye out for new Edgecliff listings. They may be few and far between, but they’re often better value than comparable homes in the neighbouring suburbs.
Serviced by bus and train with ferries at nearby Double Bay Close to all the shopping and dining delights of Paddington, the waterfront park at Rushcutters Bay and the Cruising Yacht Club, Edgecliff is wonderfully central with the bonus of excellent public transport only a few kilometres from the city centre.