Prestige property market in Sydney's eastern suburbs heats up ahead of spring

Sydney’s eastern suburbs claimed 21 of the top 50 spots in Domain’s 2016 Liveable Sydney study, a report that ranked the city’s suburbs on indicators including proximity to employment hubs, education and transport.

It also considered the availability of tree cover, views and beach access — attributes Sydney’s east is famous for.

The Agency’s Ben Collier says unlike Sydney’s other prestige areas, the eastern suburbs area caters for a broad cross-section of the market by offering beachside, harbourside, inner-city and parkside pockets.

“Where you decide to live then becomes a function of what lifestyle you are seeking,” Collier says. “Buyers are influenced by the schooling available, their employment and the proximity to amenities like cafes, wine bars and restaurants.”

While Domain Group data shows median house prices have levelled out during the past quarter, Collier believes the winter lull is coming to an end.

“We’re finally starting to see the market come alive out of winter hibernation,” he says. “People are coming back from holidays and re-focusing their attention on the market.

“We’ve seen a pause in the sub-$3 million market but the top end is still doing well, which I’d attribute to a lack of supply.”

Domain has selected four listings, from Elizabeth Bay, Woollahra, Vaucluse and Dover Heights, that showcase the enduring prestigious nature of the eastern suburbs. 

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• Related: Long-held mansions in eastern Sydney hit market

Elizabeth Bay

P2/108 Elizabeth Bay Road, Elizabeth Bay.
Photo: Supplied

Set atop the Oceana building with sweeping views up Sydney Harbour to the Harbour Bridge and central business district, this penthouse has contemporary, open-plan living spaces opening via two sets of bifold doors to a terrace with outdoor kitchen.  

Asha Askarly of Agency By Alison Coopes says communal facilities in the well-maintained company-titled building include a slipway, pool and barbecue area. “With its oversized outdoor terrace, harbour views from every major room, and luxurious interiors throughout, this penthouse is the epitome of Sydney living,” she says.

The open-plan living area opens to a terrace with an outdoor kitchen.
Photo: Supplied

For sale by expressions of interest, the home is priced around $5.25 million to $5.5 million, and is also listed with co-agent Richardson & Wrench Elizabeth Bay/Potts Point. 

See more photos of P2/108 Elizabeth Bay Road here

Woollahra

80 Wallis Street, Woollahra.
Photo: Supplied

Centennial Park  is across the road and the Queen Street village shops and restaurants a five-minute level stroll away from this Victorian terrace that spans four levels and enjoys a northerly aspect.

The modernised interiors provide space for formal and casual living, and include a glass-roofed sitting room flooded with light. There’s also a double garage with a self-contained studio overhead.

The property is of an impressive size for a Woollahra terrace.
Photo: Supplied

“The scale and proportions of the home are impressive,” says Ben Collier, who has set a price guide of $6.2 million to $6.5 million. “Typically a large terrace in this area would be a maximum of six metres wide and this is 7.5 metres.”

The property is being auctioned on August 19.

See more photos of 80 Wallis Street here

Vaucluse

59 Kings Road, Vaucluse.
Photo: Supplied

Designed to inject luxury into family living, this $7.2 million refurbished home has with a gas-heated pool, a gymnasium with steam room, and a 400-bottle wine cellar.

The marble and Miele kitchen adjoins family living spaces and there’s a separate formal dining room and a formal living room with views over Sydney Harbour to the city skyline.

The pool and level backyard are two features that make the property ideal for families.
Photo: Supplied

“It’s a popular layout, which focuses around the pool and the level backyard,” Laing + Simmons Double Bay’s Danny Doff says. “All the entertaining zones are on the ground floor and wired with a single sound system.”

See more photos of 59 Kings Road here

Dover Heights

12 Loombah Road, Dover Heights.
Photo: Supplied

The ocean views stretch all the way to the Maroubra headland from this sprawling family home, a five-minute drive from Bondi Beach.

The key living spaces are at entry level and include a granite and Smeg kitchen, two large living rooms with fireplaces, and a home office.

The home is for sale for around $6 million.
Photo: Supplied

The bedrooms are on the lower level and there’s a large, multi-purpose rumpus room at basement level. From here, tiered lawns lead to a pool and undercover courtyard with outdoor kitchen.

The $6 million residence is for sale by expressions of interest through Ray White Double Bay.

See more photos of 12 Loombah Road here

Download the Domain app to see more properties on the market in Sydney’s eastern suburbs