An insider’s view of five Sydney neighborhoods all buyers should get to know.
Gosford
Central Coast-situated Gosford is about to ride the wave of economic growth. As Sydney’s expanding population branches out in all directions, districts like Gosford—with its bucolic surroundings and picturesque views of Brisbane Water—are fast becoming a magnet for independent buyers of both the young and “young-at-heart” variety. With restaurants that run the gamut of cuisines from Chinese to Lebanese and a wealth of opportunities for shopping (try the Imperial Shopping Centre) and outdoor activities (check out Kibble Park), Gosford’s only problem is perhaps its perpetual lack of vacancies. Recent government plans for rezoning and the relocation of hundreds of public servants from Canberra will likewise keep property demand levels at a premium. Developers beware: opportunities in Gosford, though exciting, may be few and far between as the decade draws to a close.
Newcastle
Sandwiched between the Tasman Sea and Hunter River, Newcastle’s former industrial complex is now one of Australia’s largest commercial, cultural and educational hot spots. Despite being home to the country’s oldest port, its natural attractions and pristine beaches (many of which are on dazzling display throughout the newly-renovated Bathers Way walk) lend it an untouched quality that sets the district apart from the claustrophobic Sydney CBD. Residents who are culturally inclined can revel in Newcastle’s thriving performing and fine arts scenes as well as the city’s museums, while hipster coffee addicts can find an endless selection in the many cafes in the area.
Touted in recent years as one of Lonely Planet’s top 10 cities, Newcastle has big plans on the horizon. The city’s latest infrastructure projects include a new Newcastle University campus, a conveniently located expressway and a multi-million-dollar city centre renovation scheme. With Sydney’s population continuously on the rise, buyers may be in a hurry to secure a spot in Newcastle’s more manageable metropolis, and developers in the market for apartment complexes overlooking the water could see massive returns.
Parramatta
Ranked by the Domain Group as Sydney’s “second most liveable suburb,” Parramatta has reinvented itself over the last few decades, blossoming from bland business district to civic-minded, entertainment-driven boomtown. This progressive city—commonly known as a “second” Sydney—features amenities that include thriving restaurants and coffeehouses, excellent wifi telecommunication and a full calendar of cultural and sporting events. As one Parramatta resident told ABC News in 2014: “You’ve got everything here.”
And there’s potentially more on the way. Several billion dollars’ worth of plans are under consideration to strengthen local transport, increase riverfront housing and galvanise local university development. “Parramatta is in serious turbocharge right now,” warns McGrath Estate Agents founder, John McGrath. Prices are on an upswing and realestate.com.au points to a possible “overrepresentation” of apartment units. Yet, as of late 2016, property demand was still high…which would seem to indicate the time to invest in Parramatta is now.
Merrylands
Just south of Parramatta lies Merrylands—smaller in reputation, perhaps, but not in spirit. Like its northern neighbour, Merrylands has a strong infrastructure and a robust telecommunications system, but the suburb also has its own unique flavor…in some cases, literally (realestate.com.au makes a point of citing the district’s “fantastic take-away” options). Its family-friendly Central Gardens, complete with waterfalls and animal exhibits, is a local draw for the younger set, while savvy independent adults can enjoy the suburb’s shops, restaurants and overall convivial atmosphere.
Merrylands also finds itself on the brink of a golden age, prompting Starr Partners Chief Executive Officer, Douglas Driscoll, to name the suburb as one of his top ten “hot spots” in December of 2016. A multi-million mixed-use project is poised for development in the neighbourhood, and the need for high-rises may soon see a sharp increase.
Campbelltown
Buyers seeking a Sydney-area property at a sensible price, rejoice. As the de facto capital of the Macarthur Region, Campbelltown is ready to offer up city living at a country rate. Less than 60 kilometres outside Sydney CBD, this suburb hosts its own thriving urban district, a University of Western Sydney campus, a 180-seat arts centre, its own railway station and much, much more. Well within the NSW Department of Planning’s Greater Priority Growth Area limits, Campbelltown is also primed to receive an infrastructural makeover from government services hoping to please the population spillover from Sydney. Both greenfield and mixed-use developments are said to be in the works, which will mean a spike in employment and a boost to the economy. It’s recommended that property investors strike now while Campbelltown land remains both available and inexpensive.
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