Leichhardt: The Busiest Suburb In The Inner West

leichhardt street view

2015 was a fantastic year for Leichhardt and with 350 properties being sold it was recorded as the busiest suburb in Sydney’s Inner West.

This high turnover rate brought about a 21.2 per cent rise in the median house price rising to $1,225,500 with unit prices rising 20 per cent to $825,000.

Chris Nunn of BresicWhitney said, “There’s still a really strong trend of Surry Hills and Darlinghurst buyers who previously were more avid inner east fans who are flocking to Leichhardt where it’s much better value for your money.”

The market is slowing down and due to an overstock of property coming on to the market in Leichhardt, many buyers are being able to negotiate great prices. Realtors that you can still see some surprising results as a derelict Victorian cottage recently went for $225,000 over the reserve during a battle of 16 bidders.

Ercan Ersan of Ray White Surry Hills said that the final weeks of the year are a great time to buy and said, ““I’m finding there’s a lot of people rushing to get in before the end of the year so they don’t have to start again next year,” Ersan says. “The reality is if they don’t buy now, they probably won’t buy something until the end of February.”

Before you rush in to purchase a property in Leichhardt, ensure that your desired house isn’t carrying any nasty surprises. Book a building and pest inspection so that you are aware of the true state of the property before you commit to buy.

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Photo by Hamish Duncan

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