Real Estate

The inner west suburb to watch in 2019

Written by The ReReport

Breakfast Point has been named as a suburb to watch in 2019 by one of the real estate industry’s biggest names.

Starr Partners CEO Douglas Driscoll recently revealed his top 10 Sydney suburbs to watch for the upcoming year, with Breakfast Point the only inner west enclave to make the list.

Once a gasworks, the area has been transformed into a well designed masterplanned community, making it an attractive location for buyers citywide.

An established community vibe within Breakfast Point has given it a more defined identity, making it a much more attractive prospect, Mr Driscoll said.

“You can almost look at it as having that beach lifestyle and if you walk around the northern beaches you don’t get a dissimilar vibe,” he said.

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“It is starting to mature and is developing its own charm and personality. There are now people who have lived there for a while and if you add in the coffee shops and cafes it all leads to the establishment of a community with a soul.”

It has become a popular location for young couples, singles and downsizers, Mr Driscoll said, and while he isn’t predicting much growth next year, views it as a future prospect.

“There aren’t many areas that appeal to downsizers in Sydney and I think Breakfast Point is top of that list,” he said.

“These are the suburbs I believe will outperform the market and will be good investments in the medium and long term.”

One resident who has lived there for nearly 10 years is Amanda Pestana, who is selling her family apartment at 26/17 Orchards Ave to upsize within the area.

She has witnessed the suburb change significantly over that period, with many more families moving in and an increase in amenities like the country club.

“Once you have lived in Breakfast Point it is hard to move anywhere else,” she said. “When we first moved in there weren’t many apartments built so there has definitely been significant growth in the area since.”

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The suburb is made up of nearly 80 per cent apartments, with unit prices increasing by 14.3 per cent over the past three years, per CoreLogic data.

Raine and Horne Concord agent Dib Chidiac said the suburb was set for long term growth, with the lifestyle benefits drawing in a new wave of buyers.

“People feel they are buying into a healthy lifestyle and getting quality,” he said. “It is the only development in that area that looks and feel fresh.”


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