Inner city terrace apartment secured for local first home buyer

INNER CITY | BUDGET $1.1M

1 Mar

Written By Billy Gleeson – Founder & Director

▉ REGION: INNER CITY & EAST
▉ CLIENT: LOCAL FIRST HOME BUYER
▉ BUDGET: $1.1M

Securing a high-end warehouse conversion in Darlinghurst for executive young professional.

Background

Our client was a first home buyer entering the inner-city market for the first time. Their priority was securing a well-located apartment in a vibrant suburb, with strong transport connectivity, lifestyle amenity, and long-term livability. Redfern was a key target due to its proximity to the CBD, village feel, and access to major transport links.
As a first home buyer, the client wanted clarity, guidance, and confidence throughout the process, particularly around value and market conditions.

Strategy

Our approach focused on helping the client understand the inner-city apartment market, including pricing dynamics, strata considerations, and differences in building quality. We assessed multiple options in and around Redfern to benchmark value and refine the brief.

Once 56/128–158 George Street was identified, we conducted detailed due diligence, including recent comparable sales, strata review, and assessment of owner-occupier demand within the complex. This enabled us to establish a clear value range and proceed with a structured negotiation strategy.

Challenges

For first home buyers, competition from both investors and owner-occupiers can make decision-making challenging, particularly in popular inner-city suburbs. The key challenge was ensuring the client remained confident and disciplined while navigating pricing expectations and avoiding overpaying in a competitive environment.

Outcome

We successfully secured the property, allowing the client to enter the market with confidence in both the purchase price and the quality of the asset. The apartment met the client’s lifestyle and location requirements while providing a solid long-term base in one of Sydney’s most connected inner-city suburbs.

The client completed their first purchase with clarity and reassurance, supported by a structured process and informed decision-making at every stage.

Inner East

Billy Gleeson – Founder & Director

A Lower North Shore resident of over 20 years, Billy Gleeson is considered one of the North Shore’s pre-eminent and most respected buyers agents, bringing a passion and energy for real estate to Webb & Gleeson Buyers Agency.

With more than 5 years experience in the North Shore real estate market, Billy has facilitated the purchase of some of the region’s most prestigious homes, including a $20m estate in the Lower North Shore and $17.4m architectural residence in Mosman.