This year has seen strong growth month on month for the housing market, and investors need to make careful decisions when purchasing property in New South Wales. In fact, ANZ Bank forecasted Sydney house prices will rise to a strong 19% through 2021. To help you make an informed decision, we gathered our top 6 suburbs to help you find the perfect position for your next property purchase in Sydney.
Narrabeen
The Northern Beaches have long been a popular holiday location but with the shift to working from home, it is also becoming a popular place to call home, offering great work/life balance. With 42% renting population, 11% of the suburb made up of parks, and just 18km from Sydney CBD, demand for residential properties is high. The suburb also has a high median rent of $920 per week. It is important to note that this high rent also means high capital is required.
Bardwell Park
With high performance in 2020, this suburb has been a hotspot for buyers for a while, with close proximity to the WestConnex motorway and public transport to the CBD. Property visits sit at 2,346 per day, over 500 people more than the NSW average, and have seen a 22% median price change per year, which indicates high profits for investors.
Bexley
Proximity to the CBD and amenities with a more affordable price tag means Bexley is another great pick for Sydney investors. Houses are spacious and popular with renters. Similarly to Bardwell Park, the suburb did not suffer when COVID-19 hit, with median house prices rising by 32% in 2020.
Petersham
Another suburb closer to Sydney’s CBD, this inner-west location has seen astounding growth of over 27% in the last year. While many are looking further out due to the ease of remote work, it’s fair to say inner city living will be popular again in the long-term. Houses are the investment opportunity in this region, and investors benefit from over 23% of the occupants in the suburb made up of renters.
Maroubra
Another beachside option, Maroubra gives both the beach lifestyle, combined with good proximity to the CBD, making it a very “trendy” location at the moment. It is also the largest suburb in the area governed by Randwick City Council in both area and population and right next to a national park. Households primarily consist of young families and almost 45% of properties are rentals.
Coogee
Beachside suburbs are seeing a huge rise in popularity across the market since the pandemic has changed how people live and work and Coogee is no exception. A gentrified coastal suburb south-east of Sydney, the area has lots of upgrades in progress, for public transport, along with the neviable beach lifestyle holiday goers love.
Not sure where to find the right properties in your chosen suburb or need help choosing the right suburb for your investment? At Offset Property, we are experts in matching investors with amazing properties. Get in touch to find out more today.
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