Bondi Junction Market Update
This week on the blog, we’re going to step back from looking at the national markets to look at how sales are doing in our pocket of the world, Bondi Junction.
Bondi Junction is a popular place for young professionals and empty-nesters who want to strike the balance between city connectivity and beachside living. Access to Westfield Bondi Junction, Bondi Junction train station and bus interchange, and extensive local parks, all make it a great place to live. This quality of life is reflected in strong property market performance.
The median house price for Bondi Junction in February was $2,700,000 staying on trend with prices since December 2021 but displaying a quarterly growth of 2.5%. This is well above the Sydney median house price that was $1,600,000 at the end of January, pointing to the popularity of the Bondi Junction area. Units similarly showed a quarterly growth of 2.5%, with a median price of $1,225,000 in February. The median advertised rent for apartments in Bondi Junction was $440, indicating a gross rental yield of 4.04%.
For The Buyer
While prices remain strong, Bondi Junction currently has lower-than-average market demand, providing some great opportunities for the discerning buyer. The last weekend in February was the busiest weekend for auctions since CoreLogic records began in 2008. Clearance rates across the city settled at 76.87%. Comparatively, Bondi Junction had a clearance rate of 72.4%.
This means that those looking to buy in Bondi Junction can secure a property in a premier suburb that will perform well long term, without facing high levels of competition (or busy inspection times) that some Sydney suburbs are currently experiencing. Buyers can also expect an average of -4.42% vendor discount on properties in Bondi Junction currently for sale.
Notable Sales in Bondi Junction
|35 DENISON STREET||House||4 Bed||1 Bath||$2,325,000||16 Feb 2022|
|5/1 BEN EDEN STREET||Unit||2 Bed||1 Bath||$1,060,000||15 Feb 2022|
|45 FITZGERALD STREET||House||5 Bed||3 Bath||$5,000,000||7 Feb 2022|
|20 CUTHBERT STREET||House||3 Bed||2 Bath||$3,200000||24 Jan 2022|
|904/109 OXFORD STREET||Unit||1 Bed||1 Bath||$1,067,500||7 Jan 2022|
If you want to speak to a property expert who knows Bondi Junction like their own backyard, get in touch with our team today on 0467 443 838.