Here are some Sydney suburbs that are worth buying into
Property prices in Sydney are booming. Recording a whopping 19.2% increase over the last year, it’s one of the largest increases in the last 10 years. This is why more and more of us are turning our attention to Sydney’s suburbs in search of a property investment. To get the best investment or residential property at the best price, we need to get the jump on the competition. We need to know about the up-and- coming locations before everyone else does, and we need to make a move first.
Let’s take a look at some of the rising stars of the Sydney property scene. One of these suburbs could be where you purchase your dream home or make the investment of a lifetime!
Historic Botany has been a key component of the soul and character of Sydney for over two centuries. Standing on the iconic Botany Bay—the site of Captain Cook’s first landing in 1770—modern Botany has become one of Sydney’s most sought-after locations, particularly for those with young families. While monthly mortgage repayments in Botany tend to be slightly above the average for Sydney’s suburbs, this is reflected in the array of facilities and attractions on offer there. The suburb and the surrounding area play host to more than 28 hectares of parkland and green spaces, giving local residents the chance to go out and enjoy the New South Wales climate.
The region is also home to a multitude of community facilities and centres, which are available for private booking, as well as library services in different languages including English, Arabic, Bengali, and Chinese. The popular George Hanna Memorial Museum is also located in Botany.
All these together with a falling crime rate and increasing investment in local facilities make Botany an ideal place to raise a family in and one of Sydney’s prime property locations in the coming years.
Houses in Botany can still be bought well under the Randwick house price median, which was at $2,300,000 in December last year.
Located just to the north of Sydney’s central business district, Naremburn is the smart choice for savvy buyers on the lookout for a property which suits their needs. Naremburn manages to achieve the best of both worlds, marrying the relatively secluded and quiet environment outside the CBD with the convenience and ease of a well-connected locale. In fact, Naremburn transportation connections are just about to get even better. The new Crows Nest station—a short walk from Naremburn—is currently in development and promises to make the journey from the suburb to Sydney’s central business district possible in only a few minutes. This makes Naremburn the ideal choice for anyone who works in Sydney proper.
However, I view Naremburn as more than just a property bud waiting to bloom into a real estate flower. The suburb is already one of the hottest markets in Sydney and in New South Wales as a whole. Properties listed for sale within Naremburn received an average of 2,350 visits between March 2016 and February 2017, compared to only 752 on average across the whole of New South Wales. This underlines the suburb’s status as an ideal spot for an investment in real estate.
The New Potts Point (The old Kings Cross)
Government crackdowns on liquor and closing down hours have practically erased Kings Cross. Buildings such as the Omnia being built, Woolworths going in and the zone from the old take away down to the strip clubs being sold off mean that this area is set to soar. Mini Manhattan is being built, wiping out the dirty name that Kings Cross used to hold. One of the most architecturally diverse locations in Sydney, Potts Point, found just to the east of the central business district, is a joy to explore.
However, thanks to increased investing and a drive to smarten up the neighbourhood even further, Potts Point has undergone a transformation to become a place in which many people want to live, not just visit. Excellent dining options on Victoria Street and Macleay Street plus an array of clubs and bars at nearby Darlinghurst Road make Potts Point a great option for those who believe that a residential region needs more than just residential properties. These factors, combined with supreme accessibility to the central business district, make Potts Point a great real estate choice for those who are used to a city lifestyle, work in the city, and savvy investors.
I believe that it is our history that makes us who we are, and builds a solid foundation from which we can propel ourselves towards the future. In Vaucluse, a handsome neighbourhood nine kilometres from Sydney’s central business district, you will find this philosophy in action, as historic properties and locations nestle beside state-of- the-art facilities and transport links that make Sydney one of the most liveable cities on the planet.
Vaucluse has been on Sydney’s property map for almost 200 years, and is the setting for one of the city’s most famous pieces of real estate: the iconic Vaucluse House. However, modern Vaucluse provides so much more than historical trivia and is rapidly becoming one of the most desirable New South Wales suburbs for both property investors and for individuals searching for a place of their own.
Where you will buy well in this suburb is within the unit market. You can pick up a unit approximately10-20% cheaper than neighbouring suburb Bondi, for a similar offering.