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What Do You Need to Know Before Buying Property in Sydney's Eastern Suburbs?

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By Lisa Braun

Australia’s real estate market is red hot, and Sydney’s Eastern Suburbs is one of the most prestigious locations to buy property. Buyer’s agents in Eastern Suburbs are helping buyers find their dream property without having to do all of the work themselves.

If you’re looking to purchase in the Eastern Suburbs, there are a few things that you need to know beforehand.

Prestige Property in the Eastern Suburbs

Sydney’s Eastern Suburbs are where some of the most glamorous properties in the country are located. But there’s a problem: listings in the area are rare. There is a lot of demand, but the historic homes and mansions that line the area are very difficult to come by.

Proximity to good schools, transport, shops and the city make it a top destination for wealthy buyers.

The area is also safe and offers impeccable views of the Sydney Harbour.

When homes are put on the market, they often end up in bidding wars, with multiple bidders trying to start their life in the suburbs. The shortage of the market has led to homes trading every 12.4 years on average.

You Should Know Which Area to Look for Real Estate Property

If you know that the Eastern Suburbs is the place where you want to live, you just have to be confident that it is the right choice for you. It will take some time to find the right property, and you may end up in bidding wars with multiple people trying to purchase the same property.

A buyer's agent in the Eastern Suburbs of Sydney will help you find properties in the area that you’re searching.

But the first step is to know which area you want to purchase property in. Buyer's agents are best when they’re local because they have a pulse on the market. These agents often know when new properties are going on the market and can help you put in the first bid on a piece of real estate.

What Factors Affect the Growth of Real Estate Prices?

Real estate growth is impacted by multiple factors, and these factors include:

  • Demand. If there is high demand and low supply, prices tend to rise.
  • Supply. If supply is high and demand is low, prices will fall. But when the adverse is true, prices rise.
  • Interest rates. Low interest rates increase sales and can lead to higher prices when the demand for housing rises.
  • Economy. A thriving economy allows for a healthy housing market.

On top of these factors, certain areas, like the Eastern Suburbs, are attractive to buyers agents eastern suburbs because the area is close to the city and private schools are good.

How To Protect Yourself When Buying Your Dream Home, Saving Time and Money

If you want to find a dream home to purchase, you’re going to spend a lot of time and money if you don’t have a buyer’s agent to assist you. A buyer’s agent works in your best interest, and they can also negotiate on your behalf to find you a dream property at the best price.

The best way to protect yourself is to work with a buyer’s agent that will:

  • Negotiate lower prices with sellers to save you money
  • Weed out properties that don’t meet your expectations
  • Save you time and money when finding a property

Professional buyer agents know the local market, understand the market prices and may even be able to find you properties that are ready to go on the market but aren’t listed yet. You can protect yourself from wasted time and spending too much money on a property by working with a local professional.

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