If you’re looking to invest in property, Sydney offers an excellent collection of homes. In 2021, property prices rose, with dwelling values up 19.8 per cent in September, and prices are forecasted to grow 5 per cent until the end of the year.
Yes, real estate prices may have gone up recently, but you can consider rental income and enjoy lower interest rates while they are available.
With that in mind, here are the top Sydney suburbs worth checking out if you want more capital growth:
1. Avalon Beach
Are you looking for a home that offers a beachside work-life balance? Avalon Beach might just be the perfect place for you. This location is about 37 kilometres from the Central Business District, so it’s a good pick for those who want a quieter life with relatively easy access to the city when needed.
If you’re worried about pandemic after effects, Avalon Beach was virtually untouched. It has also seen one of the strongest developments in the suburbs, with new roads and hospitals coming soon. At present, the median house price is $1.98 million and a median apartment price of $1.01 million.
Another perfect beachside suburb to check out is Narrabeen. It’s a top choice among families and young professionals, and the spot boasts a solid 12 per cent growth in the last year. However, because it is in higher demand than other locations, you might notice that Narrabeen is more expensive.
At present, there is a $3.5 million median price for a house and a median apartment price of $1.12 million. If you think about it, though, the benefits of being close to the beach, essential amenities, and a low crime rate will make the investment worth it.
If you are looking for a passive income investment or a vacation home to rent out every once in a while, you can consider Blacktown. This suburb in Western Sydney has seen double-digit growth from 2013 to 2018. Plus, the $5 billion infrastructure development in the coming years will surely lead to higher prices and an increase in property value.
Blacktown has a median house price of $810,000 and a median apartment price of $505,000. Buying now is very attractive, especially if you consider the return on investment in the near future.
4. Bardwell Park
If you are looking for a suburb that’s fairly near the Sydney CBD, you should consider Bardwell Park. It boasts easy access to many key locations like the airport, inner west, and the eastern suburbs.
From an investment standpoint, the new Metro line will add extra value to Bardwell Park properties. The potential for price growth is amazing, and the current housing prices are not as expensive as the other parts of the city.
A suburb with consistent capital growth that’s worth the attention is Cherrybrook. Families and older couples dominate the location, so it has the image of being the top choice for affluent residents.
It is undeniable that Cherrybrook’s capital growth comes with a lot of potential. The median price for homes is $1.8 million and $1.02 million for apartments, and there is a chance it will rise soon due to the launch of the Sydney Metro Northwest rail link.
Are you ready to take the next step? Take a peek at these suburbs and try to find the right property match for you. Once you’re ready, you can start the process of home buying by looking at home equity loans in Sydney.
For the best home loans in Sydney, work with us at Wealthy You. We can give you access to a wide range of home loan products to help you land your first home, an investment, or the property of your dreams. Contact us today to start your application.