Double Bay is a suburb located in the eastern suburbs of Sydney, New South Wales. It is known for its affluent and fashionable atmosphere, as well as its abundance of luxurious shopping and dining options.

One of the main landmarks of Double Bay is the Double Bay Village, which is a popular shopping and dining destination. Here, you can find a variety of high-end fashion stores, beauty salons, and gourmet restaurants. Some of the best restaurants in Double Bay include The Fish Shop, which serves fresh seafood dishes, and Sefa Kitchen, which offers a variety of international cuisine.

In addition to shopping and dining, Double Bay is also home to several recreational activities and attractions. The Double Bay Beach is a popular spot for swimming and sunbathing, and the Double Bay Golf Course offers a challenging round of golf for players of all skill levels. The Double Bay Library is also a popular destination, with a wide selection of books and events for all ages.

Other notable landmarks in Double Bay include the Double Bay Sydenham Bus Depot, which serves as a hub for bus services in the area, and the Double Bay Ferry Wharf, which provides access to the Sydney Harbour and other nearby suburbs.

Overall, Double Bay is a vibrant and upscale suburb that offers something for everyone. Whether you're looking to shop, dine, or enjoy recreational activities, there is always something to do in this beautiful and lively suburb.

Market Overview

In Double Bay, the property market exhibits a high level of prestige with median house prices around $5,600,000, reflecting an annual capital growth of 2.94%. This data, provided by Your Investment Property Mag, highlights the suburb’s resilience and appeal among high-net-worth individuals. In contrast, the unit market has experienced a decline, with a 25.45% drop in capital growth, suggesting a current buyer’s market for potential investors.

Investment Potential

The investment potential in Double Bay varies significantly between houses and units. Houses maintain strong value and demand, supported by a stable rental yield of 1.68% and high average weekly rents of $2,500. On the other hand, units, while more affordable, have seen a sharp decrease in value, offering potential for investors to buy at a lower price and anticipate future growth.

Market Health Indicators

The health of Double Bay’s market can be gauged by its relatively quick sales turnover; houses typically spend about 28 days on the market, a testament to the ongoing demand for property in this premium locale. This brisk market activity underscores Double Bay’s allure and stability as a top-tier real estate destination.

Conclusion

Double Bay remains one of Sydney’s most prestigious suburbs, offering both lifestyle and investment opportunities. Whether it’s the allure of a waterfront view or the promise of a vibrant community life, Double Bay is poised to meet the needs of the most discerning buyers and investors. Its blend of high property values, significant rental yields, and a sophisticated demographic profile make it an attractive choice for those looking to invest in Sydney’s eastern suburbs.