The standout residential real estate market segment in 2020 is three-bedroom units & townhouses. Demand is higher than normal and consequently prices are stronger.
What’s caused this? It appears to be related to the new work and lifestyle patterns that have emerged because of the virus. People are spending more time at home; many are working from there of course and they feel this could well be a long-term change. A larger workspace plus living areas make this new world more practical.
The aspiration may be to buy a house, but for many the practicality is that a unit or townhouse must suffice. Most houses now command more than $2 Million, but Strata properties mostly range from $1.2 Million to $2 Million.
The demand is coming from both upsizers and downsizers who want to live in the inner suburbs where lifestyle is still a great attraction.
The start of the spring selling season is an opportune moment to get an assessment of where your property is positioned in the market.
Here are some three-bedroom strata properties that have recently been sold by our office.
3/42 Morton Street, Wollstonecraft 3 Bed | 2 Bath | 1 Car
Sold Price Range $1,300,000 to $1,320,000
Property brochure: https://bit.ly/342MortonStreetWollstonecraft
6/18 Boronia Street, Wollstonecraft 3 Bed | 2 Bath | 2 Car
Sold off market $1,400,000
3/99-101 Chandos Street, Crows Nest 3 Bed | 2 Bath | 2 Car
Sold off market – Price Undisclosed https://bit.ly/399101ChandosStreetCrowsNest
8/18 Boronia Street, Wollstonecraft 3 Bed | 2 Bath | 2 Car
Sold $1,415,000 https://bit.ly/MLRE818BORONIASTREET
9/6 Boronia Street, Wollstonecraft 3 Bed | 2 Bath | 1 Car
Sold $1,610,000 https://bit.ly/MLRE96BoroniaStreet
If you have any questions please get in contact with our office, we are in the local area each and every day.