Cronulla Property Market Update: Unit Prices Surge as Sydney Demand Shifts
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It's the Real Estate Podcast, brought to you by ANZ Home Loans for financial well-beings. And we're back with the Real Estate Breakfast this morning, covering the latest Australian housing market and streaming on Spotify and Apple Podcasts from Rockhampton to Adelaide and across all the regional markets around the country. And remember, we have no listings, no sales podcasts, just the property information that you want delivered every morning, easy and straightforward. That's the way that we like it. It is a Monday, March the 30th. If you're celebrating a birthday, you're sharing it with Celine Dion. She's turning 58. Eric Clapton. 81 and Nora Jones she's turning 47 on this day back in 1981 the assassination attempt of Ronald Reagan took place and in 2017 on this day Brexit article 50 triggered the UK's exit from the EU and that is still pretty much a shambles today hey coming up tomorrow
We've got a really interesting take on the Iran war and real estate fallout. Imagine if you were a wartime correspondent covering the Iraq and Afghanistan war back in the day and you worked on American and Canadian television networks and you then decided to move into real estate and, more importantly, live in Dubai. Yeah, finding yourself exactly back where you started. And that is just the beginning of our conversation. There are still many, many Aussie families concerned for their loved ones who are living in the UAE at the moment and have bought properties there. What is their next move? So we will bring you that conversation tomorrow. But right now, let's head off to New South Wales and catch up with Suzanne Hibbard.
She is the director at Abode Property in Cronulla. And welcome to the Real Estate Breakfast, Suzanne, on this Monday morning. Not a listener of Celine Dion, you were telling me.
Good morning, Craig, and thank you for having me. No, I'm definitely not a Celine Dion fan, though she has an amazing voice. And happy birthday to her today.
you're into your cars, your fast cars, AMG, GTR, Mercedes. You race this on the track, do you?
No, I don't actually race it on the track, though it is a racetrack car. It's really my baby. It's my passion. I love having it as my Sunday driver, but I love taking care of it and taking it to cars and coffee and other shows and I sometimes use it in my real estate videos, but it's just a beautiful car. Just the way that the car is designed and the quality of the manufacturer is just absolutely, it's amazing. It really is. And I love driving it. It sounds loud. It goes fast. It's just so much fun.
Sounds good. I will have a look at that. And that is a Mercedes AMG GTR. Looking forward to looking at the pictures. Now, Cronulla is holding its position as a premium coastal market where you are especially in the unit sector. Houses are still expensive, and we'll talk about the median local house prices in just a moment. But staying with the unit demand, that is surging. It's a classic shift where buyers are adapting rather than stepping from the market, stepping away from the market. Are you surprised at what is happening in that unit market at the moment?
No, not at all. This trend has been continuing for a We have lots of people coming from other areas wanting to move into the Shire. The quality that we have here is just very attractive, especially downsizers wanting a coastal change, a bit more relaxed lifestyle. There's just so much quality that's offered in our apartments with design and finishes and I'm not surprised at all.
With the unit market where you are, there is a range of unit products. So for those that are listening, thinking of, yeah, I do like Cronulla. What is happening with the different product aspects? Can you talk through that for us?
Absolutely. So we have our older style apartments built in the 60s. They're very popular with first home buyers. We certainly have investors buying those apartments up as well, especially if they're within proximity to the town centre and station. with the new low to mid-rise housing policy. So lots of investors are grabbing hold of those sorts of properties where they can be amalgamated with the rest of the owners there to form a new development site for luxury new apartments.
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