As Australia’s most populous city, Sydney is a hotbed of multicultural and ethnic diversity. Speaking over 250 languages, its population of almost 6 million is spread over 650 suburbs. Steady capital growth, efficient modes of transport, lively urban infrastructure, and the world’s largest natural harbour contribute to Sydney being one of the most desirable cities in the world.
The ongoing gentrification of old housing zones and transitioning of prime waterfront government property to private dwellings continue to attract more of the affluent. Thus, hiring the best buyers agents in Sydney has become the norm for acquiring a stake at Sydney’s property market.
Some of the key trends that drive property purchases are medium-density inner-city spaces and proximity to transport infrastructure, amenities, and quality education. The Australian Housing and Urban Research Institute also found the following factors to consider when looking for your next home in Sydney with the help of a buyer’s agent.
Upper North Shore
The Upper North includes Killara, Lindfield, Pymble, Roseville, Turramurra, Wahroonga, and Warrawee. This section of the metropolis boasts of irresistible parks, comparatively larger land areas, and a comfortable train commutes to the central business district.
The Upper North Shore is also home to mostly wealthy families and excellent educational institutions. As one of the metro’s safest areas, Buyers’ Agents in Sydney saw the most stable yearly price increase with a median dwelling price reaching as high as $1.4 million.
Lower North Shore
The Lower North Shore covers Castle Cove, Chatswood, Cremorne, Greenwich, Kirribilli, Lane Cove West, Linley Point, Longueville, McMahons Point, Milsons Point, Mosman, Neutral Bay, Riverview, and Wollstonecraft. The most notable features are the proximity of the Sydney Harbour Bridge and swaths of waterfront properties bounded by the Sydney Harbour, Middle Harbour, and the Lane Cove River.
It has a comparatively higher population density composed mostly of young professionals living in apartments. The median auction price for a dwelling here can reach as high as $1.3 million.
City and East
Australia’s highest property earners, like Edgecliff, Darling Point, Point Piper, and Rushcutters Bay, call this area home with a median dwelling value of a little over $1 million. It also includes favourites such as Bondi, Chippendale, Coogee, Darlinghurst, Darlington, and Tamarama.
The Eastern suburbs of Sydney have a very high percentage of young and single residents. Many of them get drawn by the city lifestyle and social scene. Unfortunately, no train commute is available here, and only a series of bus networks are present.
The Inner Western suburbs are currently enjoying most of the ongoing gentrification. The area includes Annandale, Croydon Park, Dulwich Hill, Enmore, Lewisham, Lilyfield, Marrickville, and Newton.
These places still retain some of the characteristic medium-to-high-density housing spaces and likewise attract young high-income earners.
Buyers agents are likewise prompting new property owners to steer clear of Sydney’s new high-rise apartment towers. While there is a growing oversupply of such newly built apartments, their construction is not the same. Reports of structural issues plague these new high-rise residential spaces and, thus, merit little to nil level of confidence.
Moreover, fire and water issues hound these residential towers. While structural defects are currently existent to only a small number of buildings, poor cladding and leaking roofs and fixtures are likewise increasingly present.
The bottom line for the would-be investor is to seek the help of a buyer’s agent to find a property in Sydney that would appeal to a wide range of occupiers.