Sydney suburbs where an extra bedroom costs millions

Adding a single bedroom to your home in some Sydney suburbs can cost more than buying an entire home in other parts of the country, new data shows. Sydney families chasing more space face a steep price premium, with buyers paying around $1.6m for an additional bedroom in some suburbs for units and around $2m for houses. The figures from realestate.com.au spotlight the eye-watering cost attached to properties in some of the city’s most coveted locations where limited housing supply, prestige appeal and high-end inclusions continue to widen the price gap between homes. Barangaroo, Millers Point, Milsons Point and Elizabeth Bay were among the suburbs where buyers faced the steepest cost increase for an extra bedroom in a typical unit – upwards of $1m. Upsizing from two- to three-bedroom units in suburbs like Potts Point and Elizabeth Bay can cost buyers an extra $2m to $3m, the research showed. Those upsizing from two to three bedroom houses in Darlinghurst and Paddington face over $1.2m costs, while upsizing in Vaucluse, Rose Bay and Woollahra from three to four bedrooms can cost buyers over $2m extra. The data comes amid Sydney’s price downturn, with conditions improving for buyers ...