Buying in the middle of a major Australian city means a lot of competition. The market is fiercely competitive, and many first home buyers can be left reaching the limit of their budget at auctions before being outbid by a higher offer.
It can be hard to get a foot in the real estate door in places like Sydney. As a first-time buyer, entering a market with such high prices and fast turnover, buying your first home can be a frustrating and exhausting experience with many disappointments.
Cities like Sydney are expanding, and the high prices in certain suburbs, mainly near the CBD and coastline, are driving buyers to the region’s outskirts and further still. But that doesn’t mean fewer options or that having a property outside of the major region is not a good investment.
Many people, especially young couples, are making this choice, opting to buy outside of Sydney and continue renting within.
Buying out of the city and renting can also have many upsides. There’s no need for a whole life upheaval. You can stay in the area you know, keep the job you’re working in, and buying a more affordable property means mortgage payments are lower, and it can potentially have a higher yield on your investment if you decide to rent it out.
But where to go? Whether as an investment or to move into, here’s our list of areas that are proving a great option outside of Sydney.
The South Coast of NSW is a sight to see and fast becoming a hub itself. If you haven’t had the chance to explore the region, the drive alone will be worth it, whether you find your dream home or not.
The region is dotted with trendy beachside towns housing designer boutique stores, hipster coffee spots, stunning coastline, all against a backdrop of the national park.
With a train line that links to the CBD, many Sydney-siders are making the move whilst still having the best of both worlds. A quieter and more natural setting with easy access to big city life, why wouldn’t you?
Wollongong is an established spot to start with a major hospital and the University of Wollongong being major draw points. But business starts around Austinmer and continues on through Kiama all the way to Gerringong and Gerroa. We promise you won’t be short of an option.
The Central Coast is another area especially popular with young families who are looking to set up home and have more space for the kids to play and grow. It’s also fast becoming a viable option for young couples to buy their first property.
Not only because it’s a more affordable market, but it also has CBD access via the train line and many are choosing a more scenic commute.
With major drawcards like this, it also expands the demographic for potential renters. Avalon, Copacabana and Macmasters Beach are your starting point with Terrigal, Bateau Bay and Holgate detours a must.
If inland is more your cup of tea, Western Sydney is the place to be. The Hills district is growing in popularity, and with significant developments in infrastructure in the surrounding areas, it’s onwards and upwards for the growing metropolis.
Sitting on the edge of the area and no more than an hour from the CBD, Windsor is a beautiful spot with affordable prices for first home buyers. If life is based in Sydney, this offers a more rural setting at the edge of a bustling and diverse community, and also provides a nearby escape to the Blue Mountains.
If you’ve got the desire to head out a little further, we suggest hightailing over the mountains to Lithgow and even further to Orange.
We all know Byron Bay is the new place to be. . . or maybe it has always been.
But in recent years, the area has hit a new height when it comes to real estate demand. From movie stars moving into the hinterland, hospitality kingpins opening restaurants and prominent designers sweeping up the Byron aesthetic, the region has boomed in property prices, and we can’t see it slowing down any time soon.
But there are some great spots on the wider outskirts that are a good opportunity to get into the market before the crowd takes over completely, Ballina being one of them.
Ballina, East Ballina and surrounds are our picks for a starting point. On offer are relaxed tropical living, an outdoor lifestyle, lots of sunshine, amazing food and shopping, and an airport on your doorstep. Make a trip of it, and don’t miss out on a stop at Lennox Head, Broken Head and Suffolk Park.
If you’re willing to go through the motions of Sydney real estate and want to stay closer to home, look no further than Narrabeen and Collaroy. Situated next to each other, these two suburbs stand side-by-side sharing a beautiful stretch of Northern Beaches coastline. These two won’t stay quiet for long, if you can even call it quiet now, but in comparison to other suburbs nearby, their prices definitely have room to move.
With Manly Ferry down the road, offering a picturesque commute to work each day and Collaroy Heights dominating the landscape behind, it’s a stunning location. . . and when we say the beach is walking distance from any property in the area, we mean it.