Australia is currently experiencing a property boom of sorts. As Sydney is the epicentre for this housing boom, it's no surprise that many people want to invest their money here. In this blog post we'll discuss 5 Sydney suburbs perfect for property investment so you can get started on building your empire!
Coogee is a suburb located in the Eastern Suburbs of Sydney. It's known for its beautiful beaches, which offer stunning ocean views. The properties in this area are mainly apartments and terraces, making it a perfect spot for those looking to invest in an apartment complex.
The average property price in Coogee is $3,601,000, and the rental yield is around 2.4%. This makes Coogee an excellent investment opportunity and a suburb where demand is set to only increase. Therefore, the steady growth of this affluent suburb makes Coogee one of the most attractive areas to securely park your money.
Kingsford is located in the Eastern Suburbs of Sydney, just like Coogee. However, it is closer to the Sydney CBD and is more popular with city workers. It's a densely populated area with many students and young professionals. Therefore, properties in Kingsford are mainly apartments, making it an excellent spot for an apartment complex investment.
The average property price is cheaper than Coogee, sitting at $2,530,000 with an average rental of 1.7% for houses and 2.7% for units. Even more exciting is that Kingsford is also seeing increasing demand, with a compound growth rate of 4.4% over the last five years. Therefore, with increased demand, Kingsford is becoming more attractive for investors, making it a great spot to invest your money into an apartment complex.
Dulwich Hill (2203)
Located on the west side of Sydney Harbour Bridge from the CBD, Dulwich Hill has become popular due to its close proximity to the city. The suburb is in the Inner West and is known for its trendy cafes, art galleries and pubs. The properties in Dulwich Hill are mainly terraces and houses, making it a perfect spot for those looking to invest in a family home. The area is also well serviced by public transport, making it a popular spot for professionals who commute into the CBD for work.
The average property price in Dulwich Hill is $1,935,000, with rental yields for houses at around 2% and 2.8% for units. The average property prices have seen a steady increase in the last few years and are predicted to continue this trend. Therefore, this makes this suburb an ideal investment opportunity for those looking to buy a smaller property in Sydney's inner west.
Also located in the Inner West of Sydney, Marrickville is an up and coming trendy suburb known for its bohemian vibe. Marrickville is popular with young professionals and families looking for a more affordable option than the Sydney CBD.
The suburb has a mix of residential, commercial and industrial areas, making it perfect for those looking for an investment with a variety of uses. In terms of the residential market, the properties in Marrickville are mainly terraces and apartments, making it a perfect spot for those looking to invest in an apartment complex.
The average property price is 1,775,000, making Marrickville slightly cheaper than Dulwich Hill. Furthermore, the rental yield is considerably high, sitting at an average of 2.2% for houses and 2.9% for units. Therefore, this makes Marrickville a prime investment with plenty of room for further growth. In other words, it's the perfect bet for those looking to purchase property in Sydney's Inner West!
Neutral Bay (2089)
Located North Sydney, Neutral Bay is a harbour-side suburb home to some of the most expensive real estate in Sydney. The area has been known as a prestigious suburb since the early 1900s and is home to some of Sydney's most expensive real estate.
Most of the properties in this area are historic cottage houses and mansions, making it an ideal spot for those looking to buy luxury property in Sydney. If you are looking for a high-end real estate investment you want to ensure you get the best deal on your home loan. Joust home loan comparison can offer you some of the best deals in the Sydney market, connecting the right lenders directly to you.
The average property price is around $2,917,500, with house rental yields of about 1.7% and units at just above 2.4%. The suburb's prestige combined with its proximity to the Sydney CBD makes it an attractive and secure investment option for those looking to buy a property in Sydney.
As you can see, there are a variety of great suburbs in Sydney that are perfect for property investment. Whether you're looking for an up and coming suburb with potential for growth or a more established area with high-end properties, Sydney has it all! So what are you waiting for? Start your journey for the perfect investment property today!