Potts Point is a suburb full of variety, with plenty of options for dining, entertainment, transport and leisure.
So it’s no surprise that this variety extends to the property scene.
The latest CoreLogic figures put Potts Point’s median unit price at $640,000 and the median house price just over $5 million, so it’s clear there’s a range of options for keen buyers.
Whatever your budget, there’s a great property for you in Potts Point.
Potts Point property market: the lay of the land
When we talk about property in Potts Point, we’re generally referring to units. They make up 87.7% of all properties in the suburb, with freestanding houses accounting for just 0.5%. Of these units, almost 50% are one-bedroom.
And there are a lot of people needing somewhere to call home after the population expanded 37.4% between 2011 and 2016.
Potts Point price guide: properties under $500,000
Potts Point is known for higher prices, but you might be surprised at what you can get for a reasonable price. If you have $500,000, it’s still possible to get a small one-bedroom apartment or a studio in a good location.
Potts Point price guide: properties under $1 million
This price bracket is home to the suburb’s median unit price, so there are a lot of options within this range. Typically, you can expect to find one-bedroom units with one bathroom, such as this Wylde Street unit we sold for $810,000, though the closer you get to $1 million, the better your chances of buying a one-bedroom with parking.
Potts Point price guide: properties under $2 million
Newer builds, great balconies and car spaces are the hallmarks of properties under $2 million, with choice on the numbers of bedrooms, bathrooms and car spaces. This modern Macleay Street property we sold is a shining example of the lower end of the range of $1,378,000, with 2 bedrooms, 1 bathroom and a car space. Closer to $2 million, it’s possible to get extra bathrooms or car spaces, like this $2.05 million 2-bed, 2-bath, 2-car unit we sold on Victoria Street, or even an older 3-bedroom like this great Macleay Street property.
Potts Point price guide: properties under $3 million
In this price bracket, you can certainly expect 3 bedrooms, 2 bathrooms and parking, so it’s often a good choice for families. Great balconies and harbour views are also possible here, like with this Rockwall Crescent home we sold for $2.8 million.
Potts Point price guide: properties under $5 million
For up to $5 million, you may not get more than 3 bedrooms but you will get luxury properties, stunning harbour views and heritage buildings. In newer buildings, you’ll often benefit from a concierge, a gym and a swimming pool, such as in this $5 million property we sold in the amazing Ikon building. 4 bedrooms aren’t out of the question, like in this $4.6 million Macleay Street sale, but they’re just quite rare in Potts Point.
Potts Point price guide: properties under $10 million
As can be expected, there are a lot of incredible options over $5 million. For this price, you can expect architect-designed penthouse apartments with your pick of first-class features, such as 360-degree views as in this $6.5 million Wylde Street home, or wine rooms and exclusive buildings, as in this $8.9 million Macleay Street home.
Over $10 million
Beyond $10 million you’ve got some truly amazing properties – from high spec remodelled terrace houses to the few old colonial mansions. And there’s also luxury penthouse apartments like 101/14 Macleay Street in the “Pomeroy” building, which recently sold for 10.05 million.
Looking to buy in Potts Point?
No matter your price range, there’s something for you in Potts Point. Contact me today to start your search.
