Investor's Spotlight: Sydney's Central North
Sydney's Central North is located within 20 minutes of the CBD which makes it an incredible opportunity for property investors looking to branch out beyond the city. There's plenty to choose from in Sydney's Central North, but four areas in particular present unique investment opportunities.
Hunter's Hill
For investors looking to break away from the CBD, Hunter's Hill might just be the perfect spot. With a median unit price of just over $1 million and a rental yield of 3.1%, there are opportunities to be had if you can find the right property.
Typically, properties spend less than two months on the market before they're snapped up and houses go quicker than apartments.
Drummoyne
Drummoyne's apartment rental yield is slightly higher than Hunter's Hill, and right now, prices are down significantly over the last year. It offers stunning waterfront views which makes it a popular spot. However, this suburb is vulnerable to flooding, so work with a plumbing professional to ensure your potential investment isn't high-risk.
While Drummoyne is mostly residential, there are opportunities in commercial development for shrewd investors.
Lane Cove
Just 10 kilometres from Sydney's CBD, Lane Cove is thriving. While houses have had solid growth over the last year, there's been an 11% dip for apartments in the last year. With a median price of $852k and a rental yield of 3.9%, there is an opportunity if you find the right unit.
Lane Cove is popular with growing families and nature lovers, not least of all because of its proximity to excellent schools and parks. There are great sporting facilities, too.
Chatswood
Located just 10 kilometres from the CBD, Chatswood is home to several global corporate headquarters. There are also incredible shopping opportunities, hotels, outdoor markets, and a flourishing hospitality industry.
With plenty to see and do, Chatswood is an attractive spot for investors looking for rental properties or properties to flip. It's also a public transport hub which makes it highly convenient for commuters. With great parks and schools, it's an excellent spot for families looking to grow.
Final Thoughts
Always enlist the expertise of professionals to ensure the property is in good condition before you move forward. This includes engaging a building and pest inspector for a comprehensive inspection report, and a reputable plumbing team to make sure there are no hidden issues.
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