The new suburb of Breakfast Point, on the Parramatta River, has been named the number one location for purchasing luxury property in Sydney.
According to John McGrath’s recently released Market Review for Winter 2009, while the median price for the luxury market had dropped by more than 20 per cent, the $1 million to $1.5 million was “exceeding expectations”, The Australian Financial Review reported today.
Following Breakfast Point, North Avoca, Palm Beach, Bellevue Hill, Pearl Beach, Northwood and Wombarra also presented good luxury market buys.
For investors and first home buyers, the suburbs of Brighton-le-Sands, Erskineville, Glebe and Dulwich Hill topped the list.
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