Oak’s top picks of Sydney property for the rest of 2016
As we keep hearing; the Sydney property market is slowing but don’t be overly concerned if you’re looking to buy. The slowdown has not been as dramatic as expected and there is still a fairly strong and modest growth occurring.
You also need to remember that there’s not just one Sydney property market and so not all areas or property should be looked at in the same way. There are many different property markets within Sydney itself based on price points, type of property and location. You can’t compare the market of properties over $10million overlooking the harbour in the same way as a suburban property as the first rung on the property ladder.
So, where does that leave us looking at buying property in Sydney? Suburbs within 20kms to the South and West of the CBD are tipped to outperform other location for two main reasons:
- New development – residential, commercial and infrastructure
- Lower prices comparative to other suburbs
Consider these three important aspects when evaluating a potential purchase during the rest of 2016; location, price and growth potential. Don’t rule out smaller suburbs in close proximity to those you might feel are out of reach. Sometimes just being prepared to buy a property across the road can save you $100K and yet still offer the same access to amenities.
Okay, okay getting to our team’s top house area picks…
- Ambarvale
- Asquith
- Dulwich Hill
- Forestville
- Greenacre
- Kingsford
- Kingswood
- Parramatta
- Potts Point
- Regents Park
- Sydenham
- Tempe
- Thornleigh
Look out for suburbs where the supply/demand ratio is still causing prices to increase and where there is no looming oversupply is its future.
And if you’re hunting around for an apartment investment with growth potential then it might be worth taking a look around what’s available in:
- Eastlakes Kogarah
- South
- Granville
A word of caution – some areas of Sydney are at risk of a massive oversupply of apartment in the near future. With this in mind be extremely cautious if you are considering off the plan properties, new properties in the large developments or established properties close to those locations where an oversupply new projects is looming.
If you’d like to have a chat about financing options as a first home buyer, a ‘next’ home buyer or investor just get in touch with the Oak team today. Property is pretty much one of our very favourite topics in the world.
