All About Eastlakes, Bayside (NSW) , NSW 2018

Eastlakes Real Estate Market Outlook

Thinking about buying in Eastlakes? Now could not be a better time, with 3721 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,096,000 with prices in this suburb ranging from $370,000 to $5,165,000. Eastlakes is located fairly close to the coast at just 2Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Prices are above market average and increase steadily under persistent demand. A more sustainable rate of price growth is anticipated in the short to medium term. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Eastlakes due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. The high percentage of professional people in Eastlakes classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. High density population in Eastlakes requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. High industry presence in the wider area is a double-edged sword. While local employment options are high, the presence of industrial buildings may negatively impact lifestyle perception. Demand from first home buyers and investors however ensures good price growth.

Instant Property Valuation

Eastlakes is a primarily residential suburb in Sydney, New South Wales. Named for the large series of lakes present in the area, it is perhaps known for a number of golf courses which have long existed in the suburb. Aside from the housing which occupies much of the area, it is home to a number of parks (such as the Eastlakes Reserve and the Bridget tight reserve, to name a few) and other green spaces, as well as a shopping centre. The suburb is in the Local Government Area of the Bayside Council. With a population of almost 7000 people, the suburb is far from tiny, however it is not as populous as some of its neighbours, such as Rosebery and Kingsford.

Located just 8 kilometers from the heart of Sydney, Eastlakes is a verdant sprawl of suburbia on the doorstep of the hustle and bustle of the city centre. The suburb is well connected to the rest of central and Greater Sydney by buses which run directly through the area or by light rail or train from stations just a few kilometers away in Kingsford and Mascot respectively. Eastlakes is well serviced by facilities ranging from schools to places of worship, as well as the aforementioned shopping centre; Coupled with the low housing prices in the area, this makes Eastlakes an affordable, accessible, convenient place to own property.

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