Randwick NSW 2031: Property Market Report & Real Estate Insights

Randwick Real Estate Market Outlook

Thinking about buying in Randwick? Now could not be a better time, with 21288 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $2,523,000 with prices in this suburb ranging from $25,000 to $779,597,000. Randwick is located fairly close to the coast at just 0Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Living in Randwick

Consistent high demand relative to supply is a key feature in Randwick driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Randwick ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. The high percentage of professional people in Randwick 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. Lower than average population density constrains growth in Randwick to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. Higher than average industry presence in the wider area offering local employment yet with not a large negative impact on local amenity, provides good demand and price growth.

Instant Property Valuation

Randwick is a suburb of Sydney, New South Wales. Seeing first European settlement in 1848, Randwick was proclaimed as a municipality in 1849, and grew steadily throughout that century and into the next to become a city in 1990. Randwick is full of history and culture, with a number of heritage sites drawing in tourism and local interest, including Randwick Town Hall and Ventnor, the home of one of Sydney’s first politicians. Randwick is primarily a residential municipality, however it has a deep history and culture of sports, with the 29km of coastline within the City of Randwick being colloquially known as the sports coast. As such, the municipality is home to a number of sports venues, including the Randwick Racetrack. Randwick also has a commercial area to the North-West of its centre, and an entertainment district to the south-east known as The Spot.

Just 6 kilometres from the heart of Sydney’s Central Business District, Randwick is serviced by buses and, as of recent years, the CBD and South East Light Railway. Randwick’s proximity to both central Sydney and the coastline, as well as its tourist appeal and recent investment in transport and development, make Randwick an opportunely located place to own property, full of promise, history and culture.

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