While the broader Sydney property market continues to go from strength to strength there will always be certain suburbs that gain more attention than others. Realestate.com.au recently released the top ten most searched for post codes for property in NSW where seven of these were located in Sydney, but the suburb that came in at number may shock a lot of people.
While the demand for Sydney property remains at an impressive high point many Sydney-siders are seeing the current market conditions as an opportunity to finally downsize out of their large family home.
REA economist Nerida Conisbee fuelled this notion recently as the Sydney market is currently providing potential sellers the ability to finally get the price they’ve been waiting for in order to downsize.
“You could sell your house and pick up something smaller, because apartments aren’t moving as fast as houses,” said Conisbee.
Realestate.com.au recently released the top 10 most search for suburbs on their website. The list included Sydney suburbs Mosman, Castle Hill, Kellyville, Manly, Blacktown, Bowral, Baulkham Hills and Cronulla. Surprisingly for some it was actually Port Macquarie topping this list at number 1 and Orange coming in at number 7.
What isn’t a surprise is that blue chip suburbs such as Manly made the list, as the beach side icon is now a property market more sought after than ever with one of the strongest unit markets in the country.
Conisbee continues by stating that when it comes to affordability and lifestyle “if you live in Sydney and you want to move to a place like Port Macquarie, you could do very well.”
It seems the secret is already out about Port Macquarie, as for home owners it’s the affordability of living a beachside lifestyle with all the amenities of a big city market without a large price tag which makes that particular sea change so desirable.
For investors the attractive aspect is of course not only the lower price point, desirable lifestyle and ever growing infrastructure, but it’s also the history of capital growth and the almost triple rental returns that they are receiving elsewhere.
It’s these kinds of returns that are allowing investors to create a property portfolio that costs as little as $20 a week from their pockets to maintain while still attaining the capital growth that we all covet so strongly.
At Stone Invest our goal is to present properties that have the best chance of strong capital growth in respected property markets all without putting any real cost on your every day lifestyle. We believe properties should do the work for YOU, not the other way around.