A number of factors contribute towards making a suburb a growth area, such as new infrastructure, improved roads, access to public transport and local amenities. Another important factor for investors to be mindful of is the need for a community to live in a particular area, making it popular with renters.
- Lakemba – a terrific investment due to the cultural connection people have with the Lakemba Mosque, which means the area will always attract renters and offer a good rental return
- Surry Hills – still a solid buying area that will always be very rentable. It’s also still possible to pick up a very good terrace at a steal
- Botany – an absolute cracker area. While many believe this area to be under the flight path, it’s not. Price wise, it’s undervalued and with the Eastern Distributor it’s easy to access the area. There are still plenty of opportunities to renovate in this area
- Woolloomooloo – terraces are well priced, some still need to be renovated and the area is popular with renters
- Pyrmont – The terraces in this area are hugely undervalued because they are thrown into the same category as units, which are in oversupply. The area is terrific because of the cultural lifestyle it offers, as well as close proximity to the Harbour making it a Sydney hot spot
Source: Marquee Turner Real Estate
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