High-end buyers ditch harbour side suburbs
Sydney house hunters in the market for a million-dollar property should look south of the harbour, with palatial waterfront mansions selling for 'bargain' prices.
According to a News Limited report, luxury homes in the Sutherland Shire and St George area are commanding millions of dollars less than elite dwellings in Sydney's north shore and eastern suburbs.
Waterside mansions boasting their own jetties, swimming pools and sprawling over more than 1,000 sq m are being snapped up for just $1.5 million.
The affordable price tag compares with the $8 million to $55 million price tickets on harbour front residences in Sydney's elite postcodes.
One family in Dolans Bay bought a three bedroom home on 1,454 sq m for $1.91 million - with their new property boasting a 21 m waterfront, private jetty and boat shed.
"This area is good value," Wendy Alam told the media outlet.
"I think the waterfront properties in the Sutherland Shire as opposed to the other areas in Sydney offer so much more for you dollar. We're going to build our dream home here and we'll be here for 20-25 years so it'll be worth it."