Conrad Vass - Space Property Agency

Darlinghurst's median house price has reached $2,550,000, marking a significant 31% increase according to latest market data released by Space Property Agency. The surge positions Darlinghurst among 30 new suburbs joining Sydney's prestigious $2M+ median price bracket. "This dramatic price growth reflects the fundamental shift in Sydney's premium property landscape, particularly in city-fringe locations," says Conrad Vass, Founder and Director of Space Property Agency. "We're witnessing unprecedented demand from urban professionals and investors seeking blue-ribbon locations with strong growth potential." The analysis reveals sustained buyer interest in city-fringe locations, driven by proximity to business districts, lifestyle amenities, and limited housing supply. Market indicators suggest this growth pattern will continue throughout 2024, with particular opportunities in neighboring suburbs showing similar market fundamentals. "Investors s...

A landmark policy change announced today will lift longstanding blanket bans on medium-density housing across Sydney's inner city areas, including Surry Hills and Oxford Street, effective February 28. The reform allows construction of six-storey apartment blocks within 400 meters of designated centers and four-storey developments up to 800 meters from these hubs. "This reform represents a significant opportunity for property development in Sydney's most sought-after inner-city locations," says Conrad Vass, Founder of Space Property Agency. "The changes will particularly impact areas like Surry Hills and Oxford Street, where development has been historically restricted." The policy affects ten key locations across Sydney's eastern and central districts, including Double Bay, Edgecliff, and Rose Bay. Currently, only two of 33 Greater Sydney councils permit terraces and townhouses in low-density zones, with 60% of medium-density zones prohibiting resident...

I remember when Oxford Street Darlinghurst was the place to be. Bustling cafes, trendy restaurants, and the constant hum of conversation. Now, as I walk down this once-vibrant thoroughfare, the silence is deafening. Empty tables and "For Lease" signs tell a story that's becoming all too familiar in our urban centers. The food and beverage industry is facing a perfect storm of challenges. Rising interest rates, soaring energy costs, and the lingering effects of the pandemic have created a landscape that's testing even the most resilient businesses. But this isn't just about your favorite lunch spot closing down. The ripple effects are reshaping our cities in ways we're only beginning to understand. The Domino Effect As a property professional, I've seen firsthand how the struggles of one sector can cascade through an entire ecosystem. When restaurants close, it's not just about lost jobs and empty storefronts. It's about a fundamental shift in th...

I've been in the property game for years, and let me tell you, something's not right with our mortgage system. It's holding us back, and it's time we talked about it. Here's the deal: 30-year mortgages. They're common in places like the US, but here in Australia? We're stuck in the past with our 25-year maximum terms. It's like we're trying to run a marathon in sprinter's shoes. Now, I know what you're thinking. "Conrad, longer mortgages mean more interest." And you're not wrong. But here's the kicker – they also mean lower monthly repayments. In today's market, that's huge. The Game Changer We've Been Waiting For Imagine this: a young couple, both teachers, dreaming of buying in the Inner Eastern Suburbs. With current mortgage terms, they're priced out. But with a 30-year mortgage? Suddenly, it's within reach. That's not just a win for them – it's a win for the whole community. I've seen...