Sydney’s Inner West property market is on the rise
Sydney’s Inner West property market is on the rise, with buyers who are priced out of the Eastern Suburbs driving demand, according to Domain.
Real estate agents report a growing trend of Sydney families and investors expanding their searches beyond traditional boundaries towards locations that offer relative affordability and lifestyle appeal. And the Inner West region is drawing them in.
The shift is most noticeable in suburbs like Marrickville, Earlwood, Summer Hill and Leichhardt which were once overlooked but now highly sought-after – if the property is right.
When you look at median property values, it makes sense. In the Eastern Suburbs, Domain data shows that the median house price is $3.79 million while the unit median is $1.3 million; but in the InnerWest, these respective medians are $2.45 million and $830,000.
Thus, the Inner West is proving to be an attractive alternative for those seeking value. The region is even seeing an influx of buyers from the Eastern Suburbs looking for affordability as well as restaurants, cafes, parks and extremely easy access into the city.
* Image source: Rose & Jones
About the author – Alex Veljancevski is a Sydney mortgage broker with Eventus Financial, which assists first home buyers, investors, upgraders and borrowers seeking to refinance to a better deal on their home loan.