09.26.2018 Suburb Spotlight

Hotspot: Darling Point

Hotspot: Darling Point

Darling Point is an eastern Sydney suburb that enjoys an illustrious history and enduring popularity with both buyers and renters seeking luxury houses and units.

Darling Point by the numbers

Corelogic’s Best of the Best 2017 report ranked Darling Point as:

  • The top-performing suburb for houses in NSW with a median house value of $5,682,520
  • 4th in NSW for units with 85 units sold at a medium value of $2,292,686
  • 5th in NSW for units with the highest weekly advertised rent – Darling Point’s medium rent was $850/week

This small suburb really packs a punch, with a tightly held, competitive property market.

What Darling Point offers buyers

With its awe-inspiring harbourside location, luxurious homes, and proximity to the CBD, Darling Point is unquestionably one of Sydney’s most desirable suburbs. It is home to many grand and historic residences, which sell at the high end of the market. While this exclusive suburb is out of reach for most first-time buyers, there are opportunities for one-bedroom units, and even a few studios, for those looking to get into the market in a premium location.

Although petite, Darling Point is only 0.7 square kilometres in size, it has three rather beautiful parks (Rushcutters Bay, Yarranabbe and McKell), which cover nearly 12 per cent of the suburb’s total area. Combine that with the fact that it’s encircled by the Sydney Harbour foreshore, and it’s an enviably stunning location.

Besides it’s leafy, picturesque setting, Darling Point boasts all of the benefits of inner city living. It’s close to the city and the buzzy suburbs of Elizabeth Bay, Potts Point and Double Bay, with their many restaurants, cafes, boutiques and bars. It’s also walkable to the shops and train station at Edgecliff. For the many families who live in the area, the suburb is also close to some of Sydney’s best private schools (such as Ascham School, The Scots College and Cranbrook School).

It’s also home to St Mark’s church – a venue for many weddings – and one cafe, that locals know and love.

Who lives here?

According to Census 2016 data, Darling Point’s residents are predominately professionals, with downsizers and younger people alike attracted to its upscale apartments near to Double Bay’s nightlife and the central location.

The population of Darling Point in 2016 was 4,187 people with the predominant age group being 30-39 year-olds. Households in Darling Point are primarily childless couples, who are likely to be repaying over $4000 per month on mortgage repayments.

That said, we’ve had strong interest from families in the larger apartments available in the area in recent years, reflecting a trend for families to value lifestyle and location over typical family spaces.

Recent sales in Darling Point

11 Hampden Avenue, 4 bed, 4 bath, 1 parking

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4/19 Darling Point Road, 3 bed, 1 bath, 1 parking

12/4 Mitchell Road, 2 bed, 1 bath, 1 parking, SOLD: $1,200,000

15 New Beach Road, 5 bed, 5 bath, 2 parking

1 Bennet Avenue, 5 bed, 4 bath, 2 parking

Current listings

41 Darling Point Rd – a grand six-bedroom home with four baths and two parking spaces

Where will the market move from here?

Darling Point has the benefit of amazing proximity to everything the East has to offer, but it retains a quiet, out of the way peninsula feel. It attracts downsizers buying luxury apartments, as well as families and up-sizers seeking prestige homes. We field many enquiries from buyers seeking to relocate to the area from nearby Woollahra and Paddington.

According to realestate.com.au, Darling Point remains a high demand market, with an average of 1127 visits per online property listing (versus the NSW average of 844 visits per property listing). Growth has been steady with an average annual growth of 6.16% for houses and 5.49% for units. While prices are not expected to soften, capital gains may slow given the high prices the suburb is currently achieving.

If you’re interested in buying or selling in Darling Point get in touch with our team today.