Looking to buy a new apartment in Sydney City? A brand new apartment here will allow you to be close to everything you require including public transport, city jobs, restaurants and entertainment options.
Sydney City and surrounding suburbs has 9 parks covering nearly 20% of the total area. The population of Sydney City in 2006 was 14,691 people. By 2011 the population was 14,306 showing a population decline of 2% in the area during that time, although the greater area covered by the municipal council and which includes Waterloo, Darlinghurst, Glebe is much larger at 191,918. The predominant age group in Sydney is 25-34 years. Both Fort Street High and Sydney High Schools service the area.
New apartment activity is located across Sydney city with Dawes Point, Haymarket, Millers Point, Darlinghurst, Pyrmont, Ultimo and Woolloomooloo, the areas where new activity is predominate, especially the development of new apartments. Established stock in proximity of harbour views attracts high prices while you can find more affordable stock without views, especially when buying an off the plan New Apartment in Sydney City. In some locations such as Elizabeth Street, penthouse apartments sold off the plan are attracting record-prices in excess of $10 million.
Access to city is through bus, train and freeways points in all direction. The under-city tunnel offers rapid access to eastern suburbs as well as inner west suburbs such as Leichhardt, Ashfield, Haberfield and Balmain.
With two major Universities in or at the gate of Sydney city – The University of Sydney and the University of Technology, the demand for rental accommodation is extremely strong although undergraduate student accommodation is mainly centred around the southern end of the city in more affordable, high-rise apartments. The development on Broadway has become a major attraction from an architectural point of view with several thousand new apartments being sold many off-the-plan. Again, from a purely architectural perspective the new Business School being built on the grounds of UTS presents an architectural masterpiece designed by the famous US architect Frank Gehry.
Households in Sydney are primarily childless couples and are likely to be repaying between $1800 - $2400 per month on mortgage repayments. In general, people in Sydney work in a Professional occupation. In 2006, 32.9% of the homes in Sydney were owner-occupied compared with 33.9% in 2011. Many new apartments in Sydney City sold off the plan are being purchased by ‘down-shifters’, people may be living for example on the North Shore who sell their larger homes as children leave ‘the nest’.
Buying new apartments in Sydney City, just like in any other suburb requires a careful plan, in-depth research of the suburb and knowledge of what you are looking for. It is important that you do your research to ensure you are buying the right property for the right price. We realise that buying a property can be quite a stressful experience, so our Property Consultants are on hand to help guide you through the buying process as smoothly as possible.
Thinking about buying a brand new apartment in Sydney City? Our team at iBuyNew are ready to help. Just give us a call today on 1300 123 463 or submit your enquiry online and we will be in touch shortly.