Thinking about buying an off the plan property in Inner South Sydney, NSW? You'll want to discover the Location Demographics, Travel & Infrastructure and Investor Insights.
Zac is a first time investor who just bought an off the plan apartment in Inner South Sydney.
Last year, I decided to take the exciting step of investing in my first property. I was already living at my current apartment but was wanting to build my portfolio and buy an investment property. After months of researching all kinds of homes and looking for an area that had what I was looking for, I finally settled on an off-the-plan apartment in Inner South Sydney. It has been the best property decision I’ve ever made and here’s why:
The Inner South Sydney area is known for having significant landmarks and a range of cultural attractions. It is also home to a mix of famous art galleries and local street galleries. Filled with popular beaches and fun outdoor activities, there are loads to explore. A few of the nearby suburbs are Alexandria, Bondi and Surry Hills.
Combining both adventure and relaxation, you can have it all at Inner South Sydney. I like soaking in the sunshine at Bronte Beach or going for a surf at the iconic Bondi Beach. To unwind, the Centennial Parklands provide a great escape with its sprawling green lawns, lakes and gardens. I also enjoy visiting the Australian Museum which showcases historical collections and spending my weekend at the Paddington Markets. When it comes to dining out and shopping, the World Square Shopping Centre has various brands and supermarkets. The Central Park Mall also has a bunch of boutiques and eateries. To add, there is an array of inviting cafes and restaurants scattered all over. I enjoy having lunch at The Butler Restaurant and getting dinner at Pino's Vino e Cucina Restaurant. For a night out, Oxford Street is full of trendy venues and live music performances.
Boasting an upbeat and multicultural neighbourhood, professionals, young adults and families have happily moved in with the number of residents expected to increase. According to the Australian Bureau of Statistics, the current population has more than 331 000 people with the majority being between 25 to 30 years old. The median age is 34 years old. There are around 178 000 private dwellings and 77 200 families residing at Inner South Sydney.
Looking for a great option for families and young adults? Check out these listings.
Being connected to a handful of public transport services, passengers are able to be easily accommodated. The Central Railway Station is a major transport interchange and has 28 platforms. On the other hand, the St Peters Railway Station is also operated by Sydney trains and has 4 platforms following the Bankstown Line, the Airport and South Line and the Eastern Suburbs and Illawarra Line.
Bus stops can be found on Mitchell Road and New South Head Road. Drivers are able to utilise access to Princes Highway and Southern Cross Drive for a direct journey. You can also get active with multiple walking and cycling trails available.
Looking for a property near public transport? Check out these listings.
The City of Sydney Council has announced planning rules to redevelop and transform Alexandria by delivering employment opportunities, building creative spaces, encouraging investment and providing affordable housing. They aim to support growth and promote the economy by renewing and revamping older commercial and industrial areas. Specifically, the proposal for north Alexandria focuses on preserving heritage character and creating a mid-rise enterprise precinct. The Inner South Sydney area is also looking to welcome in 3 000 new and improved homes as part of the Waterloo Estate redevelopment.
At Alexandria, apartments have a gross rental yield of 3.1% and the median rent is $550 per week. In comparison, houses have a gross rental yield of 2.3% and a much higher median rent at $850 per week. In the last 10 years, the median property price was $550k in 2012 and around $758k in 2018. The median property price has now risen all the way to $951k.
If you would like to invest in the Inner South Sydney area, why not look into buying an off the plan property there? You can start your search here or book an appointment to speak with our team of property experts to see if this is the right area for your property needs.
Sign up to our Free VIP membership for a personalised service.Learn more