A Tale of Resilience: Potts Point Unit Fetches $530,000 More Within Just 11 Months

The real estate market never ceases to amaze, and Potts Point, Sydney is a clear testament to this fact. One bedroom unit in Potts Point recently sold for a staggering $530,000 more than it did just 11 months prior, marking a significant surge in this city fringe smaller apartment market​1​.

The unit, located at 702/12 Macleay St in the coveted Macleay Regis building, has attracted significant attention. Despite lacking a parking facility and having a restrictive company title, the newly renovated 76sq m unit still managed to command strong interest during its campaign​1​.

This apartment, which once housed high-profile Australians such as Gretel Packer and actors David Wenham and Craig McLachlan, sold for $1.3m in 2022. However, after a short campaign with agent Angelo Bouras of Richardson & Wrench Potts Point, the renovated unit fetched an impressive $1.73m​1​.

“It was popular among buyers who wanted it as a city crash pad. Being company title, it was restricted from use as an investment or short-term rental, but the quick sale just goes to show that the demand is out there for a well-presented city-fringe apartment,” said Bouras​1​.

According to PropTrack, the median unit price in Potts Point is $906,500, marking a 2.7% increase over the past 12 months​1​. This growth, coupled with the recent sale of the Macleay Regis unit, suggests a strong rebound in the city fringe smaller apartment market.



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