Housing in Sydney is more expensive than anywhere else in Australia. At the end of last year, the average cost of a detached house in Sydney was $518,000, which is higher than the cost of the same house in the Australian capital Canberra ($368,000) or in Melbourne ($375,000).
Sydney is rapidly growing in breadth – today the number of its suburban areas exceeds four hundred, but the whole world is known primarily for the silhouettes of attractions located on the shores of the famous Sydney Bay. An impressive circular panorama of the city opens from the observation deck of the central pier. First of all, the "white–winged" opera house building attracts attention - a symbol not only of Sydney and Australia, but also of the entire progressive architecture of the XX century. Another well–known structure is the bridge across the bay, built in 1932
. The oldest area of Sydney is The Rocks, where the first colonial houses, shops, warehouses, pubs are still preserved. Now it is one of the most popular and expensive areas of the city. The maximum value of the property is achieved in cases where the windows overlook the bridge or the opera house. Only very wealthy buyers can afford to own real estate in this area.
On the ocean coast there are areas that also have a unique charm and are no less popular, but more affordable. To the north of the bay is the Manly area, and to the south are the Bondi Beach neighborhoods. Here business life is combined with excellent opportunities for a beach holiday.
For all tastes
"You will surely find an area that will appeal to you. There are a lot of promising places to invest in the city," says David Ramsgate, a former resident of London who recently moved to Sydney. "Choosing a particular area can be a real problem – it's very easy to get confused."
David definitely made a choice in favor of the promising Pyrmont area, located next to the well-known tourist quarters of Darling Harbour. Within just 10 min. The central business district, Sydney's best casino Star City, the famous fish market and much more are within walking distance. Despite such proximity to the center, the area has the atmosphere of a small town, with cozy cafes, gift shops and pubs. This area has good potential for short-term investments.
According to Wayne Walter, a specialist at McGrath Estate Agents, who has been selling real estate in the area for more than 15 years, Pyrmont is attractive both for young investors, such as David, and for older buyers. "I work with a lot of foreign investors who are buying property in Sydney,– he says. "As a rule, they like to travel, so they should be able to leave the house under lock and key and leave, and at the same time they like to live in central areas." And while proximity to the bay usually means high property prices, in suburbs like Pyrmont, they remain surprisingly affordable. "In general, there are many more offers in Sydney with a good combination of price and quality than it seems at first glance," continues Wayne Walter. "Here you can find housing with beautiful finishes, stunning views and a security system at a price of $350,000 for a 1–bedroom apartment and $550,000 for a 2–bedroom apartment. The upper limit of prices is about $1.5 million. The price is largely influenced by the size of the apartments and the availability of parking."
An example is the M Central complex from The Hayson Group, which sells 164 open-plan apartments with 1, 2 and 3 bedrooms. The apartments are designed in the loft style, open concrete structures and panoramic windows create a special mood in them. The buildings of the complex have a guarded parking lot and spacious roof gardens. Prices here start at $395,000 for a 1-bedroom apartment.
Darlinghurst and Surry Hills, located near the city center, are also popular areas. Both districts successfully combine urban amenities and a relaxed atmosphere. The Surry Hills area is replete with very affordable offers. So, in the catalogues of the McGrath company, you can find apartments in a gated residential complex, rebuilt from a warehouse, with 1 bedroom and 1 bathroom. The bedroom in them is really spacious and has large built-in wardrobes, the stylish kitchen is decorated with black granite, and the windows offer a beautiful view of the city. If you consider that there is a terrace with a tennis court on the roof of the complex, then the cost of the apartments looks very attractive – only $ 320,000.
In the Darlinghurst area, just minutes from the harbor, you can buy a two-storey 2-bedroom apartment for just $610,000. Their distinctive features are an open–plan living room, stylish interior and high-quality furniture. A three-story two-bedroom house in the same neighborhood costs about $500,000.
The main thing is speed
Sydney is unique in that residential complexes on the ocean coast combine the features of urban and typically beach real estate. But be prepared to pay a very decent amount for housing located near the beach.
The most famous beach in Australia, Bondi Beach, is located just 7 km from the center of Sydney. It is known for its white sand, blue water and fantastic waves, which are highly appreciated by surfers and swimmers. One of the most affordable offers here is a 2–bedroom house with an original parquet floor and ocean views from all windows, which costs $690,000. If we talk about more exclusive offers, then in the McGrath catalogues you can find a penthouse worth about $ 1.25 million, with 2 bedrooms, 2 bathrooms and a view of the world-famous beach. The highlights of this penthouse are the author's spa bathroom, a sun terrace and a closed guarded parking lot. But for $ 6.5 million, you can buy a three-bedroom penthouse located on the Campbell Embankment, that is, a stone's throw from the beach.
Although the Manly area is located 12 km from the center, it is a very promising and convenient destination for buying real estate. This is, in fact, a business district located literally on the beach. "The real estate market in Manly is booming, the average cost of apartments here is about $500,000, says Candice Cattell, a private real estate agent. – The primary market is very lively, where one and two-bedroom apartments are in maximum demand near the beach and Manly Harbour Bay. Real estate worth more than $1 million is also popular, and there are many foreigners and residents of the city among the buyers."
An example is the Seachange complex, designed for 36 apartments. Although many apartments were sold out at the off-plan stage, there are still offers of 2 and 3 bedroom apartments on the market. All apartments are designed according to the latest modern design, they have an open-plan living room, terraces and balconies, as well as a modern kitchen. The complex has a guarded closed Parking lot. There are also more affordable options in Manly – for example, a 2-bedroom apartment about 2 km from the ocean beach will cost about $450,000.
Experts say that among the beach areas of the eastern part of the city, Maroubra, located south of Bondi Beach, has very good prospects for development. There are also offers with a good combination of price and quality for those who want to live on the coast. If the proximity to the coast is not essential, then you can stop at areas such as Erskineville and Lewisham. In any case, when searching, agents and mortgage brokers should not be neglected, without which it is unlikely to be possible to conduct a transaction quickly. And speed is very important in the current state of the Sydney market – good real estate is bought quickly.
