Suburb Spotlight-Rushcutters Bay

Located just 2km from the city centre is this vibrant harbour side suburb that is perfect for investors and first homeowners alike.
According to Domain (SMH July 21st-22nd 07) “Even in a subdued market, Rushcutters Bay is a happening place. Properties in the suburb are spending less time on the market, prices have climbed and clearance rates at auctions are also up on the past year.”
Being located within close proximity of the city and next to Elizabeth Bay and Potts Point, it is only a short walking distance to the Kings Cross station, which is one stop to the city. The area is well located to transport, shopping facilities, parks, harbour, nightlife and cafes which makes it a desirable location to live and in turn a perfect location for investment.  “An area like Rushcutters Bay will always enjoy better long term capital growth than other areas simply because it is one of Sydney’s most well located suburbs.” According to Michael McNamara, APM, General Manager.
“In the six months to November, properties were taking 102 days to sell. By the end of May it was 60 days. Prices have edged up 32 percent from a median of $371 000 to $490 000 and auction clearance rates have risen from 65% to 75% for the same period, according to Australian Property Monitors.”

If you are a first home owner or an investor looking for property with good rental return and capital gains potential, don’t hesitate to contact Platinum Buyers Agents to assist with your property needs on 02 8003 7558 or by email on email@platinumbuyer.com.au