Property Investment Sydney
Sydney, the capital of the State of New South Wales (NSW) has a dynamic business environment, positioning the city as the financial hub of Australia and a leading financial centre in the Asia Pacific.
NSW has Australia's largest and most diverse State economy and its highly skilled workforce produces about 32 per cent of the country's Gross Domestic Product. NSW is also Australia's leading manufacturing and services State, with the lion's share of finance and insurance, property and business services, communications and manufacturing.
Vibrant and cosmopolitan, Sydney offers a great quality of life. Leisure pursuits range from the active - sailing, swimming, bushwalking and more - to the cultural - theatre, music, movies, galleries and festivals.
Sydney has reached the trough of the investment cycle and is now on its way up, making it the ideal time to invest. In addition, it is usually the first city that migrants and tourists arrive in and the home of the headquarters of many large national and international businesses.
As elsewhere throughout the country in simple terms, properties that enjoy a waterview tend to do well in Sydney; property hot spots like Bondi and the Northern suburbs have enjoyed consistent capital growth. Other factors include proximity to amenities, including schools, shopping and public transport. People are still underestimating the value of access to good public transport. The price of oil and parking in the city centres are all going one way, which is up.
Sydney, for example, has pretty harbourside suburbs with ferries always having been a popular and convenient way to get around the city. This adds to the popularity of the harbourside suburbs.
As Sydney expands outward, centres including Parramatta where amenities are readily available and within a 15 minute radius will increase in value over a quicker time frame due to increased demand from tenants.
According to studies undertaken by Australian Property Monitors, the fastest growing suburbs in Sydney for houses are Glenorie (with a median house price increase of 57%), Bellevue Hill, Malabar, Artamon, and Palm Beach. Overall, the median price of units has increased more dramatically, and the fastest growing areas for units are Leura (up a staggering 73%), Rosehill, The Rocks, Milsons Point and Clovelly.