Aug 27, 2018
What is currently the most desirable location in Sydney?
The answer may surprise you.
Areas like the eastern suburbs of Sydney or the lower north shore may immediately spring to mind. And yes, they have been and will continue to be desirable due to their affluence.
However, there is no doubt that the underestimated location in question, which has long been the underdog, is now dominating livability studies due its cultural amenities, transport options and great value.
Have you figured it out yet?
Well, it is none other than the inner west of Sydney.
The inner west is emerging as one of the most sought-after local government areas in Sydney.
From Dulwich Hill to Newtown, Leichardt to Balmain, the metropolitan area directly west of Sydney CBD is now starting to shine as the ‘Europe’ of Sydney.
Domain suggests that “the unassuming inner west may once have been overshadowed by the flashy eastern suburbs, the bohemian inner city and the blue-ribbon lower north shore.
But in recent years, this cluster of neighbourhoods stretching due west of the CBD has emerged as Sydney’s liveliest and most livable precinct – and, for many prospective buyers, it’s now their top pick.”
So, what makes the inner west so desirable?
Let’s run through a few pointers.
“There’s a lot to be said for excellent public transport, no matter your income level. The buses are excellent. The light rail gently wends its way from Dulwich Hill to the city. The Inner West train line connects even more suburbs. And people in Rozelle and Balmain can catch the ferry. All that choice is very attractive.”
The inner west has certainly proven to be an investment grade area that is both strong in having wealth building rates of growth but also stable, in that due to its local economic growth drivers will not fluctuate in value as much as the outer suburbs of Sydney.
Success Is Easy, But So Is Neglect
Jim Rohn suggests that when giving the choice of "easy to" and "easy not to" that you don’t neglect to do the simple, basic, "easy"; but potentially life-changing activities and disciplines
Pros and Cons of Rentvesting in Sydney
Links and Resources:
Some of our favourite quotes from the show:
“The way one lives in Sydney has evolved, so more people are happy and expecting to live in apartments in Sydney, as they would in any other major metropolis in the world.” – Michael Yardney
“One of the things I want to point out is that it’s always been harder for first-time buyers, and study after study has shown it’s really not harder today than it was 40-50 years ago.” – Michael Yardney
“Rentvesting won’t be the ideal strategy for every investor, but if you’re just starting out or if you’re prepared to think outside the box and do things differently to get ahead, then becoming a landlord and a renter may just be the right way forward for you.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me.