Cheap inner Sydney suburb: Enmore analyzed by the Property Professor

Typical inner city suburb in Sydney, only about 10 minutes away from the CBD.  Typical in the fact that it’s got lots of older style homes, narrow streets and these homes used to be lived in by factory workers because there was lot of factory and industry in the area.  But they have now gone and being replaced by professional workers.  Very well serviced by train.  There’s not a huge amount of shops within the boundaries of Enmore, but you have got Marrickville Metro nearby and also there markets that are open every Sunday.  So, so far as shopping is concerned, you will have to hop into your car, but there are some extensive shopping facilities very close by.

Why buy in this suburb?
 
Why should you buy in Enmore.  Number one, it’s one of the cheapest inner city suburbs in Sydney.  So for those people that are looking to buy inner city property or maybe work in the city, there is a great opportunity to buy there.  If houses are too expensive, then have a look at the units.  Because even though a house might be the best type of property to buy because of its land component, the location is the most important thing.  So you are much better off, for example buying a unit in Enmore than you are buying a brand new house on the outskirts of Sydney, because you cannot change its location.  So proximity to the city is important.  If you can’t afford a house, look for a unit.  Also gentrification is occurring.  A lot of those older homes are being renewed and that’s the same for neighbouring suburbs like Erskineville and Newtown.  So old becoming new which is great. 
 
Looking for tenants, you should have no problem, you’ve got Sydney Uni not too far away, Royal Prince Alfred Hospital plus all the professional workers and many of them would be working in the CBD.  And one of the other drivers of capital growth in Enmore is its proximity to the prime suburb of Stanmore.  It’s almost $200,000  cheaper than Stanmore, however many of the streets and the houses are quite similar.  It’s not like you cross the road and you can tell that you are in Stanmore, rather than Enmore.  But so therefore if you are looking for areas to buy in, the area close to Stanmore would be better.
 
Best streets to buy in
 
The best type of properties to focus on in Enmore are the period style homes, because you can quickly add value through renovation which means you either increase the final sale price or if you are looking to rent, you can certainly increase the rents.  Enmore Road happens to be around one of the highest points in Enmore.  The reason I mention that is, if you can get a property with a view, then you can certainly increase the value of your property very easily and a view of the CBD is the best view that you can get.
 
Streets to avoid
 
So the roads to avoid are Enmore Road, great place for coffee but not a good place to be buying residential property.  Liberty street is also quite busy as is Edgeware Road.

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