How do you find the perfect place to buy a house in Sydney? It can be tough, especially if you’re moving from another city. Here are some factors to consider when buying a house in Sydney, including choosing the right suburb and common pitfalls to avoid when buying your first home.
Where is the best place for buying a house in Sydney?
The best locations for investing in Sydney property in 2022?
Sydney’s strong price growth in 2021 was unsustainable, and the market has been flat for most of 2022.
But it’s like putting one hand in a bucket of hot water and the other in a bucket of cold water and saying “I’m comfortable on average.”
There is no one singular trend in the Sydney property market and there are still parts of the city where there is continuing demand and property prices are continuing to rise.
Despite housing being more expensive, people who can afford it still do it and investors are re-entering the Sydney property market due to less competition at a time when rents are also increasing.
1. Coogee
Coogee is modern coastal suburb south-east of Sydney CBD which will benefit from projects starting in 2020.
A 12km light rail network will connect Circular Quay to Kingsford as part of the $2.2B South-East Light Rail project.
As well to the light rail, a $5M upgrade of the Coogee Bay Road town center began in September 2018.
- Distance from CBD: 8km South East
- Total population: 14,012
- Median Household Income: $2099 (weekly)
- Walk Score: 79 – Very Walkable
2. Kingsford
Kingsford is a residential suburb located southeast of Sydney’s central business district and just south of the University of New South Wales.
It is situated less than 5 km from Coogee Beach and has cultural amenities along Anzac Parade and Gardners Road.
Kingsford will also benefit from the South-East light rail project with a direct link to the CBD.
- Distance from CBD: 7km South East
- Total population: 14,100
- Median Household Income: $1227(weekly)
- Walk Score: 82 – Very Walkable
3. Kensington
Kensington is located southeast of Sydney’s CBD in the local government area of Randwick.
Kensington is located immediately south of Moore Park and west of Randwick Racecourse.
The major landmarks of the suburb include the main campus of the University of New South Wales, the National Institute of Dramatic Arts (NIDA), and the exclusive Australia Golf Club.
The South-east light rail project will also benefit Kensington.
- Distance from CBD: 6km South East
- Total population: 12,776
- Median Household Income: $1498(weekly)
- Walk Score: 81 – Very Walkable
4. Maroubra
Maroubra is a coastal suburb in the Eastern Suburbs of Sydney. It is southeast of the Sydney CBD.
Maroubra is the largest suburb governed by Randwick City Council in both population and area.
- Distance from CBD: 10km South East
- Total population: 29,594
- Median Household Income: $1428(weekly)
- Walk Score: 74 – Very Walkable
5. Neutral Bay
Neutral Bay is a harbourside suburb on Sydney’s Lower North Shore.
It is located north of Sydney in the Sydney suburb of North Sydney.
There are many different suburban communities like Cammeray, Milsons Point, and Cremorne surrounding this region.
- Distance from CBD: 1.5km North
- Total population: 9384
- Median Household Income: $2073(weekly)
- Walk Score: 85 – Very Walkable