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Just 2km east of the CBD, this picturesque, diminutive harbourside enclave is one of Sydney’s most charming, with its elegant architecture reflecting its early heritage. Many Elizabeth Bay properties enjoy spectacular harbour views either back to the city or north across Rushcutters Bay.

Love

Built between 1835 and 1839, landmark Elizabeth Bay House was designed by the most fashionable and accomplished architect of the day, John Verge, for the Colonial Secretary, Alexander Macleay. Set proudly above Arthur McElhone Reserve overlooking the harbour, it now provides an elegant setting for functions and exhibitions.

While Elizabeth Bay itself has only a local corner store and a couple of funky cafes, it’s surrounded by the dining and entertainment meccas of Kings Cross and Potts Point.

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As a particularly high-density area, Elizabeth Bay is home primarily to gracious apartments built between the 1920s and ‘40s. Freestanding homes are rare, but the several that are found here are some prize pieces of real estate, including Billyard Avenue’s waterfront Spanish mission residence, ‘Boomerang’, which once set the record for Australia’s highest property price and notably featured in Mission Impossible 2.

During the height of Sydney’s urban development prior to the Olympics, a number of local hotels such as The Sebel, The Manhattan and The Gazebo were all redeveloped as luxury apartments to cope with soaring demand for inner city property.