DavidGreen

We've all heard about Sydney's crazy house prices, but there are still affordable gems to be had. It really is depressing to see how little half a million dollars gets you in today's property market.Just five years ago, that kind of money bought a quality period property in a popular suburb not far from CBD.Today, it won't even come close.

The last remaining exception is the city's south - east where, at least for now, pockets of affordable quality property can still be found at or below the Sydney median house price of $625.000. There are some good tree-lined streets and there's an emerging shopping and cafe strip that's following the trends of other lifestyle suburbs.

Generally speaking, good capital growth — a doubling in value every seven to 10 years — is achieved by properties that are close to the city with easy access to public transport and all the amenities that entails. Matraville is one of these area in lower eastern suburbs that is "picking the eyes out of the market". It is close to city, famous beaches, University of NSW and eastern suburbs shopping mecca.

The suburb is undergoing a massive revamp. The recent developments in the heart of the shopping strip, the “Peninsula” and “Mawarra” were sold out in record time. The area near the shops is definitely the more desirable part of Matraville. Considering all these facts there is no doubt that the lower eastern suburbs will be a story for 2010 - plus.