Surry Hills 2010 postcode receives the most online real estate searches of any postcode in Australia. But while many agencies try and sell in Surry Hills, not all of them are based here.
On Crown Street’s iconic strip there are only a very small number of shopfronts for real estate agents, and one of those is Ray White Surry Hills.
Peter Natoli, the managing director of the agency since 2006, acknowledges that the area is a highly competitive market for real estate agents, but believes his presence on the street is a differentiator.
“There is not a lot of shopfront competition on the strip, so I think being so visible is a real advantage,” he says. “Also, we work in the area so I think we might know it better than other agencies which are outside 2010, but still try and sell here.”
Natoli came to Surry Hills after working in property in other eastern suburbs Randwick and Coogee, but says Surry Hills is his favourite market.
“I love coming to work every day,” he says. “Surry Hills has got everything I like. It’s a beautiful pocket and that’s why I work here.”
As a property market, Natoli says that Surry Hills is great to work in because “it’s so transactional.”
“It has a good combination of houses and apartments, and a mixture of investors, first home buyers, same sex couples and young professionals,” he says.
“Many of these younger people upgrade regularly as they become older and have families, so many houses are turned over every five or six years so there is usually a lot of stock available in our postcode.” Natoli acknowledges that today’s current property market is a little softer than at the same time last year, but says that Surry Hills has been less impacted than most.
“What we are seeing is that there is an oversupply of apartments,” he says. “There are many new apartment developments in suburbs surrounding Surry Hills, and that is having an impact.
“But we are still transacting and although days on market have increased its still a very sellable suburb because of its position close to the city and the entertainment if offers to people. It’s always going to be popular and one of Sydney’s favourite markets.”
Ray White Surry Hills specialises in residential sales and property management