Despite a dip in prices, Sydney is still one of the most expensive cities to invest in within Australia.
Land, for example, with its being hands-off nature as well as it’s being versatile, makes buying it one of the best investments. It may be the safest investment in the world as it will not be lost, not even carried away or stolen. Be it real estate, farm or pasture land, or even city property, buying property, especially after much research, will be worth it.
As a buyer or investor, you’re probably wondering where the best areas are to buy your next property. Let’s take a look at the following areas.
The Best Regions To Buy Property In Sydney
Fortunately, there’s value and potential for capital growth throughout the city.
1. Entry-level Investors
Entry-level investors may want to consider newer growth hubs in the city, such as Greater Parramatta, Blacktown, and Liverpool. Properties in these areas are relatively affordable and offer an attractive lifestyle.
They’re also in for a good boost. Liverpool’s local economy, for example, is set to get a big boost from the brand-new airport at Badgerys Creek. Also, Macquarie Park has improved its road and train links to the CBD and nearby Fairfield have seen major infrastructure and transport improvements.
2. For Long-Term Growth
If you’re looking for long-term growth, consider the eastern suburbs of Sydney, which are next to light rail lines that link the city to the University of NSW. Areas like Kingsford, Surry Hills, Kensington, and Randwick are all set to benefit from the improved transportation options.
3. For Families
The same goes for the inner western suburbs which have quickly become Sydney property hot stops, especially for mobile singletons and families, who are flocking to Croydon Park, Stanmore, Camperdown, and Petersham.
4. For Renters
If you want to be located somewhere highly connected by public transport, consider suburbs within1 to 5 stops from the city, such as Erskineville, Wolli Creek, Ashfield, and Green Square.
Other long-standing favorites in Sydney such as Tamarama, Coogee, Bondu, Belleve Hill, Paddington, and Bronte still remain good buys and are in high demand for renters and buyers alike.
A House Or a Unit?
The next question to consider is where you should invest in a house or a unit. It all depends on your investment strategies and objectives, as well as your budget.
Overall, houses tend to outperform units in the Sydney property market, although they have a higher entry price, making apartments more affordable for first-time investors.
Regional Alternatives to Sydney
If Sydney is just a little out of your price range, consider commuter towns and other regional areas of NSW, such as the Central Coast, Wollongong, and Newcastle. All of these are more affordable than Sydney and offer excellent growth potential.
Shellharbour is a particularly great area for investment, showing impressive year on year growth. Property investors are also flocking to Newcastle and Wollongong after a big investment in local amenities and infrastructure in recent years.
Where to Start
If you’re new to investing in property, make sure you have a good understanding of what’s involved. Do your market research and identify whether you’re a long-term buyer, short-term investor, renovator, or want ongoing cash flow. Then, consider the kind of property you’d like, and which suburbs can offer a solid price growth for you.
Be sure to seek expert legal advice to ensure you invest in the best possible value for money.