Most of us know about the most expensive suburbs in Sydney such as Tamarama, Vaucluse, Darling Point, Bellevue Hill, Woolwich, Double Bay, Mosman and the list goes on. But do we know what they do to keep their value?
Rapidly rising interest rates have taken a toll on Sydney’s housing market and while some suburbs have been hit hard others are still holding on to their value. The most expensive suburbs in Sydney, in and around the city are not decreasing in value due to high demand and homeowners holding on to their homes for well over 20 years. So, areas in lifestyle or coastal suburbs are in high demand as homebuyers wait to secure a potential property.
The most expensive suburbs in Sydney keep their value due to their location and what they have to offer such as pristine views of the harbourside and the city, beaches, a lavish lifestyle and top-end schools. The homeowners need to keep the property well maintained and looked after and no doubt when it’s time to sell, the price will reflect.
This is something to keep in mind when searching for a property. LOCATION LOCATION LOCATION!!! You can continually improve the look of a home, but you can’t change its location.