New South Wales is home to some of the most distinguished man-made and natural wonders that Australia is known for. From the Harbour Bridge and Sydney Opera House to the rugged Blue Mountains, quaint outback towns and lush rainforests, there is a lot this East Coast state of Australia has to offer, including fantastic housing and investment opportunities.
Almost 60% of the population in NSW lives in Sydney, and one can’t just ignore the fact that Sydney has become an increasingly expensive market altogether – especially for home buyers. This has made many people flock to the suburbs – smaller towns located close to the metropolitan but with relatively affordable housing markets. What’s expensive in the suburbs is still relatively cheaper for the Sydneysiders.
This increase in demand for homes has consequently created an excellent opportunity for investors and home sellers looking to crack profitable deals on their properties. Take a look at the best property selling suburbs in NSW.
One could have termed Newcastle as the distant, industrial cousin of Sydney in the past. However, all that not-so-desirable persona of this NSW suburb has undergone a complete overhaul. With rapid urban renewal taking place in the area, the local real estate market has noticeably become more affordable and attractive than other parts of the state.
Laing and Simmons Real Estate reports a driving demand for Newcastle property in the foreseeable future, given the Sydneysiders enthusiasm to move to places close to home and almost like home.
Similar to Newcastle, Wollongong offers residents excellent infrastructure, nearness to Sydney, and top quality life. This suburb is building upon its future economic growth with tourism and education as its foundation stones. Hence, Wollongong presents an assorted combination of factors that can benefit property investors and sellers. The region witnessed a sharp spike in the median house prices, reporting a 13% increase in them during 2015/16.
Located just outside Wollongong, Stanwell Park is yet another suburb experiencing soaring home prices. Between January 2016 and January 2017, property prices in the region shot up by 59.9%. Experts believe that it’s the commutable distance to the not-so-affordable Sydney, the stunning coastline, and the access to Royal National Park that makes the suburb popular among locals and tourists alike.
NSW South Coast
Certain parts of this region have shown tremendous growth. The two most prominent neighbourhoods in terms of rising home prices include the Denhams Beach and Falls Creek. Both locations are in close proximity to the popular lifestyle attractions in the region, particularly the gorgeous beaches in the area.
The rising property prices in Australia’s biggest and NSW’s capital city has Sydney commuters actively moving to coastal suburbs as well. These small towns mainly comprise of Gosford, Umina, Wyong, and Ettalong among others.
The investment market for real estate in NSW suburbs is hot with opportunity for investors and sellers at the moment, because of the increasing demand for residential properties. Property prices are expected to increase a great deal more as we step into 2018 and move towards 2019 – which makes it a good time to invest your money in the right place.