“In 2010, residential property in Sydney is viewed as commencing the next upswing of the cycle…read on to find the next Sydney real estate hot spots…”
Real estate is hotting up in Sydney with new research revealing the medium house price for houses will rise over the million dollar mark in 2020, the Sunday Telegraph reveals. This means an estimated 625,000 houses across the metropolitan area will have a value of more than $1 million changing the face of Sydney real estate hot spots.
Growth areas include Rouse Hill and Kellyville in Sydney’s north-west. Similar growth is expected for Narellan Vale, Abbotsbury, Cecil Hills, Bligh Park, Glen Alpine, Woronora Heights, Wattle Grove and Kellyville Ridge with an expected of price tag of over $1 million in 2020.
Sydney real estate hot spots are traditionally growth areas, up and coming suburbs and locations with changing demographics. Premium suburbs within 10 to 12km of the CBD, luxury waterfront and prestige properties and those that have scarcity value are likely to perform well.
John McGrath from McGrath Real Estate says his top picks for property investors include suburbs like Dee Why in the northern beaches, Coogee in the eastern suburbs, Erskineville and Surry Hills in the inner city and Lane Cove and Cammeray in the northern suburbs of Sydney.
The luxury property market in areas such as Palm Beach who were the hardest hit by the Global Financial Crisis is also set to make a price recovery in 2010. Apartments in areas close to the city, such as Cremorne Point and Balmain, are expected to make strong returns for investors by 2020.
A growing migrant population and not nearly enough houses are also driving up house prices in Sydney. The Sydney Metropolitan Strategy says Sydney needs to cater for an extra 1.12 million people in the next 25 years.
Factors such as recovering share market prices, migrants buying up big in Sydney and the return of the bank executive’s bonuses are also driving up prices of luxury properties both in waterfront and inner city locations generating good returns for investors.
High rents and gross yields, rising house prices as well as a recovering economy puts the focus firmly back on investment properties and the prestige property market, as astute investors consider the long term gains of high growth Sydney real estate hot spots.
To be a successful investor in Sydney it is best to identify areas that have finished the “down swing” phase of the property cycle and are now starting to move forward. The Australian Property Directions Survey by the Australian Property Institute says that residential property in Sydney will be on the upswing in 2010.
Amanda who is a buyer’s agent in Sydney specialises in investment property in the Sydney inner west, inner city, east, north shore and the northern beaches. She can help you identify Sydney real estate hot spots and investment opportunities in Sydney. Remember investing in property is a long term investment strategy and if you buy the right property in the right location at the right time, the capital gains growth will almost always follow.
Amanda On My Side offers exceptional buyers agent services throughout Sydney and across Australia. Engage a professional real estate buyers agent to help you find the best property at the right price. Buyers agents, also known as property finders or a buyers advocate, can help find, research and bid on your next home or investment property. Need a buyers Agent Sydney – then you need Amanda on your Side.
