N G Farah are expanding their business to Mascot

The property market in the South Eastern region of Sydney is remaining steady reports N G Farah, leading independent Real Estate Agency, despite Auction clearance rates dipping and confidence pausing. “These types of things are typical in any market place, especially for one that has been growing at such a steady rate over the past 5 years” notes Glenn Farah, Partner and Sales Executive.

N G Farah, who have a prominent market share in many of the South Eastern suburbs of Sydney, are now expanding their core business of property management and opening up a satellite property management office in Mascot to service 300+ new properties that the company has been allocated to manage.

Marinos Euripidou, Director and Partner of N G Farah says, “Mascot is one of the growth suburbs in Sydney with 2142 residential houses and approaching 5000 apartments. We currently sell and manage quite a few properties in the Mascot area and are currently servicing these properties from our head office in Kingsford.

“We see Mascot as a superb suburb with the benefits of rail, airport, proximity to the city and beach and a strong history makes it a great suburb to invest and live in.”

Demographically, the suburb is bordered by Sydney Domestic Airport and the Lakes Golf Course and is considered part of the Eastern Suburbs of Sydney. Only 24% of people rent in Mascot which is low compared to other neighbouring suburbs as the average price of a house in Mascot is somewhere between $1.2m - $1.5m and a brand new one bedroom apartment is selling from around the $680,000 price point.

Units prices do vary depending on their age, vintage and location but in some parts of Mascot, you can purchase a two bed unit for up to $800,000 in good condition and in Mascot’s new development corridor prices vary from $900,000 to $1,300,000.

House prices increase by an average of 9.7% per annum and unit prices by an average of 7.1% per year. Euripidou adds that “N G Farah are now position to be able to serve a wide variety of home sellers and property investors who own property in the Mascot area.”