Potts Point is as Parisian as it gets on this side of the equator.
The tree-lined suburb is full of art-deco buildings, bustling eateries and the pint-sized canines. So it’s no surprise that the area is a magnet to buyers from further afield, searching for the quintessential Sydney pied-à-terre.
Of course in Sydney we use the term “crash pad” for this type of property and Potts Point is luring many seeking this type of purchase.
Who needs a crash pad?
Buyers of Potts Points crash pads come from Bowral to Byron Bay and everywhere in between. They’re also Sydneysiders or downsizers who want to keep a foot in the market while they test the waters elsewhere.
There are two main drawcards in Potts Point for out-of-town buyers.
First and foremost is location. Those hankering for a regular weekend retreat in Sydney are rewarded with proximity to culture, arts and nightlife: a short Uber ride to the theatre, a stroll to the Art Gallery of New South Wales and a mere stumble to bars, clubs and restaurants.
Corporate professionals who need to fly-in and out of Sydney don’t need to waste further time commuting thanks to the proximity of the CBD – and Kings Cross Station.
While beach dwellers who like the best of both worlds can dip into the suburb’s urban delights before returning to the surf and sand.
Yes, Potts Point is home to prestige penthouses that epitomise the ultimate Sydney address. Where else can you get panoramic views that span the harbour from the bridge to the heads?
The second – and hidden – appeal in Potts Point can be the price. While affordability in the 2011 precinct may sound like a concept as foreign as Paris itself, because of the availability of tiny, bijous studio apartments the suburb boasts a lower median unit price, than the overall Sydney median ($621,000 versus $860,000). That’s not to mention the leasing potential of the property if and when it’s vacant. And you don’t need much space if you’re just crashing.
Although other Sydney suburbs may offer more space for less cash, they don’t have a fraction of the amenities. Besides, no one crashes in Potts Point with the sole intention of staying home, no matter how large that home may be.