07.03.2024 Local News

What’s The Most Popular Property Type In Your Suburb?

What’s The Most Popular Property Type In Your Suburb?

What’s the most popular property type in Sydney’s Eastern Suburbs?

Data recently released by realestate.com.au revealed that the nation’s most popular home is a four-bedroom, two-bathroom house with double parking. Meanwhile, the most popular apartment type has two bedrooms, one bathroom and one parking spot.

The results were based on measuring views per property on realestate.com.au.

The classic four-bedroom, two-bathroom family home with double parking also came out as the preferred property type in every state and territory except Tasmania (where three-bedroom, one bathroom homes with double parking won).

Apartment configurations varied more widely across the nation. Although, in NSW, two-bedroom, two-bathroom, one parking space apartments (2-2-1) narrowly beat apartments with one less bathroom but the same number of bedrooms and parking spaces (2-1-1).

So how do Sydney’s eastern suburbs compare with the rest of Australia?

The most popular property types in Sydney’s Eastern Suburbs

Sydney’s eastern suburbs have a range of properties, offering something for every lifestyle. Our local housing stock ranges from the inner city apartments of Potts Point and Surry Hills to the large mansion-style homes of Bellevue Hill and Centennial Park; from beachside Bondi Art Deco flats to Paddington’s turn-of-the-century parkside terraces; and from Bronte’s growing number of remodelled homes and knock-down-rebuilds to Randwick’s proliferation of light-filled 60s apartments.

It makes sense, then, that buyer search activity revealed different property types were popular in different suburbs, as the data below illustrates.

Suburb Most searched for
house type
(bedrooms, bathrooms, parking spaces)
Most searched for
apartment type
(bedrooms, bathrooms, parking spaces)
Paddington 3 2 0 1 1 0
Woollahra 4 3 2 2 1 0
Randwick 4 3 2 2 1 1
Centennial Park 4 2 1 2 1 1
Double Bay 4 2 2 2 1 0
Bellevue Hill 5 3 2 3 2 2
Rose Bay 4 3 2 3 2 2
Vaucluse 4 3 2 2 1 1
Bondi Beach 3 1 1 2 1 0
Potts Point 4 3 2 1 1 0
Darling Point 5 4 3 3 2 2
Surry Hills 2 1 0 1 1 0
Darlinghurst 3 2 0 1 1 0

* Source: realestate.com.au

How Sydney’s eastern suburbs are different

As the table above reveals, only one of Sydney’s eastern suburbs – Double Bay – matches the exact property configuration for the national preference in houses (4-2-2).

It seems that eastern suburbs buyers expect their houses to have more bathrooms than most Australians, with three the norm in many suburbs and Darling Point buyers wanting four.

However, they’re not too fussed about parking – or at least they understand the realities of how difficult it is to find homes with significant marking space in Sydney’ east, especially in inner city suburbs such as Darlinghurst or Surry Hills.

When it comes to apartments, local buyers’ searches become more conventional, with Randwick, Centennial Park and Vaucluse matching the nation’s most popular configuration (2-1-1) – although no suburb records the same preference as our state’s most popular property (2-2-1). Instead, apartment searches veered towards smaller, entry level sizes with one bedroom apartments favoured in Darlinghurst, Surry Hills, Potts Point and Paddington.

In all other suburbs, two-bedroom apartments were more popular – except for Bellevue Hill, Rose Bay and Darling Point, where buyers wanted three-bedders.

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What really sells in the Eastern Suburbs?

The data above shows what buyers are looking for (or at). But how does that compare with what actually exists?

According to the 2021 Census, the average number of bedrooms per home in Woollahra LGA (council area) is 2.7. In the Waverley LGA, homes are slightly smaller with an average of 2.4 bedrooms.

Both council areas have smaller houses than the state and national averages of 3.1 bedrooms per dwelling. No doubt, the relatively smaller size of housing stock explains why more buyers search for three-bedroom houses than four-bedroom ones in suburbs including Paddington, Bondi, Surry Hills and Darlinghurst.

It’s also interesting to compare the search patterns of buyers with a breakdown of the type of properties that actually change hands in any given year.

This shows that what people look for and what actually sells, doesn’t always line up. In Woollahra, for instance, buyers were busy looking at four bedroom homes, but more three-bedroom houses were actually sold.

Here is Domain data on the number of properties sold in the past 12 months, categorised by type and number of bedrooms:

Suburb One bedroom apartment Two bedroom apartment Three bedroom apartment Three bedroom house Four bedroom house Five bedroom house
Paddington 36 34 4 88 53 8
Woollahra 16 50 10 34 25 11
Randwick 79 230 31 48 48 17
Centennial Park 21 20 4 4 5 2
Double Bay 12 51 21 10 12 2
Bellevue Hill 7 77 45 8 18 26
Rose Bay 8 73 42 17 22 16
Vaucluse 8 40 10 13 33 34
Bondi Beach 31 76 26 19 16 5
Potts Point 112 61 13
Darling Point 8 33 36 2 2 2
Surry Hills 155 111 14 37 21 3
Darlinghurst 114 76 14 23 7 1

* Source: domain.com.au

Changing housing trends

When the pandemic hit, it accelerated the lifestyle trend of buyers wanting more space. Many people spent much more time at home, and also needed room to work from home, so they sought out larger properties.

On the flipside, the realestate.com.au report reveals that average household sizes have actually been getting smaller over the years.

In fact, many bedrooms in large homes are unoccupied or at least under-occupied. Last year the Sydney Morning Herald reported that over 50% of properties across the Eastern Suburbs had one spare bedroom, and over 20% had two spare rooms.

National data also shows that searches for smaller houses are also rising each year, alongside searches for larger apartments. Realestate.com.au put this down to affordability and buyers being pushed to compromise (by choosing a smaller house, or large apartment) due to rising property prices.

Want more?

Thinking of buying or selling in Sydney’s Eastern Suburbs? Get in touch with my team today.