Finding the ‘next-best’ suburb is almost better than buying in the best suburb. The ‘next-best’ are the suburbs that are situated close to property hotspots and are where you will most likely find a proper bargain. Buying in the best suburb may mean you’re that little bit closer to shops, transport and the ‘it’ crowd, but it can also play against you if you purchase at an inflated price that takes a while to bring you decent equity. Expanding your search geographically can work in your favour and see your property’s value skyrocket.
For example, it was recently reported in My Property Report that Waitara, situated between Chatswood and Wahroonga on Sydney’s Upper North Shore has been quiet of late with less growth than its near neighbours. Because it is still part of a well-regarded district, developers are seizing the opportunity to buy cheap before Waitara catches up to its neighbours.
In the inner city, Surry Hills is a good step down price-wise from Paddington, and has an increasingly gentrified population with a thriving cafe scene and plenty of great shopping.
The other suburbs to watch are the ones nestled next to some of Sydney’s most popular postcodes. Here are some to keep an eye on:
- Manly Vale has long been regarded as a poor man’s Manly – but it is actually conveniently located on the bus route to the city and hugely popular with renters and young families.
- The lesser-known Narraweena, located between Dee Why and Beacon Hill, is one of the cheapest on the beaches.
- If your heart is set on Balmain, think about nearby Rozelle instead. It’s still a fantastic location and tends to be priced more reasonably.
- Rather than Newtown, keep going till you hit Enmore and St Peters and you’re more likely to find something in your price range.
Lower North Shore
- Try Lane Cove as an option for properties that won’t set you back as much as the current hotspot Chatswood.
- Artarmon can also be a bargain zone, especially if you’re in the market for a semi or an apartment.
Having the help of an insider with real knowledge of what’s going on in every suburb can also help you to uncover the suburb which is going to provide fantastic returns on your investment.
A Buyer’s Agent can help you find your dream property. For more information contact Amanda On My Side.