In the midst of searching for that ideal inner city suburb in Sydney, many home buyers and investors have overlooked certain suburbs which are relatively low profile or better still, unheard of.
Consider these suburbs for example – Wareemba, Narraweena, Banksmeadow and Turrella. These suburbs are not often spoken about either by home buyers, investors or real estate agents.
Wareemba is a small suburb next to the more high profile Abbotsford and Breakfast Point where there are million dollar water front properties. Narraweena is in the northern beaches next to Dee Why. Although it is inland, it is relatively more affordable than its neighbouring suburbs. Banksmeadow is near Sydney airport and is often confused with Meadowbank.
The report above identifies three suburbs in Sydney which are relatively low key but are very affordable at under $700,000.
First home buyers will find these suburbs as viable options because of the following issues:
- Relatively affordable and help get them “a foot in the door” whilst beginning to own a first home
- Great location under 15 km from Sydney CBD
- Strong capital growth upside whilst they start their property investment cycle
- Good public amenities and conveniences, transport links into the city
Investors will like these suburbs because of the following issues:
- Solid tenant propositions due to proximity to the CBD, public amenties and transport links
- Strong private investments into the suburb
- Strong capital growth upside due to on-going gentrification and strong price growth of neighbouring suburbs.
- Relatively low vacancy rates
- Good potential and opportunities to upgrade, renovate, create equity and wealth