First Australian purchase: seasoned London buyer, Sydney renter, done waiting
Address: near Alexandria Oval
Price: $826,000
Size: 63sqm internal, 26 sqm balcony
Brief
Seasoned property owner — just not here. Having held in London for years, this Potts Point renter knew exactly what good looked like. What they'd had enough of was the churn: lease ends, moving boxes, rent money disappearing into someone else's investment. With the NSW Government's stamp duty relief on the table and a strong deposit behind them, the timing was right. The decision was made to stop renting and start owning.
The search area was deliberately broad — driven not by suburb loyalty but by one non-negotiable: an easy commute to the north-west of Sydney. Beyond that, the brief was deceptively simple at the start. It became considerably more specific with each property we walked through.
Challenge
Requirements have a way of crystallising when you see enough property. Certain wants became clear needs and the list was precise: afternoon sun (essential, not preferred), genuine quiet, a study nook that could function as a proper workspace, a building that didn't feel like an enormous hotel, and space.
Options within budget in Potts Point and Elizabeth Bay existed — but the compromises required outweighed the benefits every time. The search expanded. The addition of heavy rail, light rail or bus to the metro commute added time, complexity and risk. None of them good things to add.
So this combination — spacious, sun-filled, quiet, well-located, boutique building, WFH-capable, easy access to the metro — in a market where most apartments sacrifice at least one of those things — made this a search that required thoroughness and discipline.
The client had completely ruled out Zetland and a large chunk of Waterloo having rented there before. We had concerns too: too much development, too many identical towers, and with the Federal Government's recent CGT discount changes threatening to dampen investor demand, real uncertainty about where future capital growth would come from. It was a fair concern — and one we took seriously.
Solution
The answer was in the nuance.
The streets immediately surrounding Alexandria Oval are a different world from the denser development just a few blocks away. Single-level terraces still line tree-lined streets. The oval itself is an enormous green space, accessible and genuinely used. A few hundred metres in the other direction, the Waterloo Metro has transformed what was already a convenient location into a genuinely well-connected one. A DA check revealed plans for a local market nearby — the kind of amenity that follows residential density done at sufficient scale, and a signal that the surrounding infrastructure is still filling in rather than fully priced.
The apartment itself made the case. Already larger internally than comparable one-bedders in the area, it came with a 26sqm private terrace running the full length of the property — accessible from both the living area and the bedroom. This space effectively doubles the available living space. Appealing too was that it is housed in a small-scale development of only 3 floors, with a neighbouring development of a similar height meaning surrounding construction was complete. No common walls – a rarity. The apartment above shares the same layout, meaning less likelihood of stomping feet from a living room whilst you’re in bed. A review of the strata report found no noise complaints or issues on record — meaningful reassurance in a building type where that can be an issue. The location at the rear of the building meant traffic noise was not an issue and there was no overlooking to the apartment – privacy assured.
Three introductions to conveyancers were provided. We needed legal counsel that could move as fast as any situation might demand. A full contract review and strata due diligence was completed before any offer was made. The client had done this before in another market — they didn't need hand-holding, they needed a sharp second opinion and someone fluent in the parts that were genuinely unfamiliar.
Result
Having seen it at preview before anyone else, the apartment was only advertised online for 2 days, when another keen buyer moved first and forced our hand. We were given 24 hours to respond. Experience allows us to move fast, identifying and validating strong opportunities, without compromising the necessary steps. When circumstances demand rapid movement, it’s data that helps clients make decisions more quickly and with greater confidence.
A review of every comparable sale since Budget night confirmed two things: what we were willing to pay aligned precisely with where value was sitting, and this apartment was comfortably the most suitable of everything that had traded in the preceding quarter. The brief — space, quiet, sun, a large usable and private terrace, a study nook, a boutique building — simply hadn't come together in anything else.
The outcome: a well-priced entry into the Sydney market that delivers on every requirement. Accessibility without the crowds. Space without the compromise. No dead money from the next lease renewal, no disruption, and a commute that works.
“I knew what I was doing — I just didn’t know the Australian process. Having someone who could read the contract, know the suburb, and tell me when something was genuinely good value for my (very specific) requirements was exactly what I needed.
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