Hillsdale continues to attract developers

Hillsdale attracting developers

In Sydney property terms, Hillsdale could be considered an affordable suburb with a median unit price of $653,500. It’s also a lesser-known suburb in heart of south-eastern Sydney, predominantly made up of apartments.

RealEstate.com.au has recently reported that a four-level development has been approved for a site at 41-45 Rhodes Street where “there is DA approval to build 46 apartments. The mix is 30 two-bedroom apartments, 13 one-bedroom units, and three three-bedroom apartments”.

According to CoreLogic RP Data median unit prices in Hillsdale have grown by four per cent in the last 3 months and 60.2 per cent in the last five years.  The median weekly rent is $468.

“[Hillsdale is a] convenient location and an adjoining suburb of Eastgardens.  It’s basically a 10-minute drive to the airport and close to Southpoint Shopping Centre, transport, and the eastern suburbs beaches. Hillsdale is an area that will continue to grow,” Martin Farah from NG Real Estate said. “It’s not as expensive as Coogee, Little Bay, Maroubra, or Randwick.”  The article about Hillsdale notes that the 1853m2 site has attracted plenty of interest from investors and developers in Sydney and Australia-wide.