property investment
Looking for Investment Properties in Melbourne or Sydney?
Posted on December 18, 2019 by Mirren Property InvestmentChoosing the location for your next investment property can be challenging. Aside from taking note of the location’s environment, community, and atmosphere, you also have to consider things that will impact your lifestyles such as the quality of the school, shops, and local amenities available in the area. Lastly, you have to limit your search according to your budget. Which places could you possibly realistically afford to purchase and invest in?
Are you looking for an investment property in Sydney or Melbourne? Even though both places are amazing areas to find your next investment, there are specific suburbs that might be worth looking into. The following suburbs are the best areas to live and invest in according to cost, state of healthcare, education, and overall population.
Balmain East
Just a 5 minute drive away from the CBD on the Balmain Peninsula, Balmain East is a small suburb located in the Inner West of Sydney and the state of New South Wales. It’s only a 14-minute drive from the city centre or a 24-minute commute if you’re using public transport.
Balmain East is under the local government area of the Municipality of Leichhardt. Despite its small geographical size, the suburb has amazing parklands and education facilities for families living in the area. It has a population of 1866 and an average income of $1302 (as of 2019).
| Median House Price $2.8 m | Median House Rental Price $975 per week |
| Median Unit Price $1.1 m | Median Unit Price $800 per week |
Brighton
When we think of Brighton, we imagine beautiful beaches and luxurious homes. Brighton’s coastal homes are popular among tourists and locals who enjoy long peaceful walks at the beach and brunches in amazing restaurants by the sea. It’s also popular for the boutique shops and public golf courses that draw foreign visitors throughout the year.
| Median House Price | Median Rental Price |
| 2 bedrooms – $1.35m | 2 bedrooms – $565 per week |
| 3 bedrooms – $1.95m | 3 bedrooms – $875 per week |
| 4 bedrooms – $2.43m | 4 bedrooms – $1200 per week |
Brunswick
Experience a multicultural and increasingly dynamic suburb bustling with art museums and cafes at Brunswick. Perfect for young people seeking modern city-like living filled with cafes, craft beer bars, and live music, Brunswick is a great place to purchase homes for young independent millennials.
If you’re a fan of Middle Eastern and Mediterranean food as well as shisha lounges, you’ll find it all here in Brunswick. With its palpable energy and multicultural vibe, Brunswick is known for an amazing place to live for both young people and immigrants.
Brunswick is not all modern though. In Brunswick, you’ll find many huge Victorian-style homes and Edwardian homes fill the narrow streets with lovely old characteristics. Most Victorian homes have charming single or double-storey terraces. It’s the perfect mix of both traditional and modern, simply the best of both worlds.
In terms of occupancy, Brunswick is one of the most populated suburbs all year long but most especially in summer during various cultural and sporting events. Aside from young people, you’ll also find plenty of older residents in Brunswick, as well as singles, and families.
| Median house price: | Median rental price: |
| 2 rooms – $916k | 2 rooms – $530 PW |
| 3 rooms – $1.08m | 3 rooms – $650 PW |
| 4 rooms – $1.25m | 4 rooms – $830 PW |
Fitzroy
Fitzroy is a buzzing bohemian village located in the inner-city hub just north of Melbourne CBD. It is filled with eye-catching local bars, bookstores, vibrant shops, and diners. Whether you want to try a new bar, cafe, or want to see a live gig in the area, there’s always something to do in Fitzroy!
Transportation is not a problem since you’ll easily catch the service tram in the area. With so many shops and amenities in the area, it becomes a very walkable and youthful suburb perfect for young professionals, couples, and families. Fitzroy is bordered by Collingwood on the east, by East Melbourne on the south, and by Carlton on the west.
Fitzroy is Melbourne’s first suburb and it’s home to a thriving street art community. The suburb is filled with creative locals from all wonderful walks of life. There’s a variety of commercial art galleries, studios, and artist-run spaces in the suburb, including the two main commercial art galleries: The Gertrude Contemporary Art Space and the Centre for Contemporary Photography.
Houses in the suburbs are filled with terraces. The residential buildings are often converted to commercial and industrial buildings. There’s also a good number of modern apartments, public housing, and walk-up flats.
Fitzroy offers an energetic, hip, and urban atmosphere perfect for professionals. The homes in the area are a bit pricey but with good reason. Overall, purchasing an investment property in Melbourne, specifically in Fitzroy, is worth the price tag.
| Median House Price: | Median Rental Price: |
| 1 room – $491k | 1 room – $623 PW |
| 2 rooms – $710k | 2 rooms – $898 PW |
Hunters Hill
Hunters Hill is a charming waterside suburb home to quite a few Hollywood stars and the rich group in Sydney. It is situated on a small peninsula separating the Parramatta River and the Lane Cove River, one of the several Sydney North Shore suburbs. The suburb is a 9-minute drive away from the CBD and 18 kilometres from the city centre. It’s also just a 24-minute commute using public transportation.
Enjoy a peaceful life in this charming suburb in Sydney. Best for people looking for a luxurious quiet life, this suburb is home to beautiful parks, five-star restaurants, prestigious schools, and convenient supermarkets. Overall, it’s a splendid place to retire or grow old in.
Hunters Hill’s neighbourhood is filled with expensive homes with more than 90% of them near a pretty park and 74% near a school. It is a great place for people looking to live a grand life with contemporary sophistication.
| Median House Price: | Median Rental Price: |
| 3 bedrooms – $2.2m | 3 bedrooms – $850 per week |
| 4 bedrooms – $2.8m | 4 bedrooms – $1250 per week |
Northcote
Known for their art deco homes and Edwardian mansions, Northcote is a popular suburbian village in Melbourne. Here you’ll see houses showcasing Melbourne’s heritage area and many charming residential homes located in beautiful tree-lined streets.
There’s also no problem when it comes to public transportation as the suburb is serviced by two train lines namely the Mernda and Hurtsbridge and two tram lines the High Street and St Georges Road. It’s bordered by two beautiful parks, the Merri Creek Linear Reserve and Northcote Golfcourse.
Northcote brings a more old and aesthetic feel and may be hard to like if you’re someone who prefers a more modern and urban suburb setting. However, because of its proximity to the city, it’s not that hard to find interesting shops and cafes in the area. If you want to go where the best food is just head out to the popular High Street.
The people in Northcote are mostly older Greek and Italian, a huge percentage of them are often artists or musicians and then there’s also the population of young couples and singles looking to start their families.
Overall, Northcote is a picturesque suburb known for its beautiful shows, innovative eateries, and bars. You’ll never run out of things to do in Northcote since most of their events and festivals take place all throughout the year.
| Median House Price: | Median Rental Price: |
| 2 bedrooms – $1.13m | 2 bedrooms – $570 per week |
| 3 bedrooms – $1.25m | 3 bedrooms – $680 per week |
| 4 bedrooms – $1.58m | 4 bedrooms – $920 per week |
Rozelle
Rozelle is a harbourside suburb just four kilometres from the CBD. It’s a 12-minute drive from the city centre and a 13-minute commute using public transportation. Found on the Balmain peninsula, most of the residents in Rozelle have easy access to parks and educational facilities in their area.
Public transportation is provided by regular buses that travel along Victoria Road and Darling Street to CBD. The Rozelle station which opened in 2000 can be found on the Annandale border. It’s also the terminus of the Metro Light Rail that has access to Sydney’s fish markets, Star City Casino, Chinatown, and Darling Harbour.
Life in Rozelle is quiet and comfortable yet convenient. Here you’ll find shops, pubs, and restaurants everywhere. It’s great for young families and professionals looking for a vibrant lifestyle with close proximity to the CBD.
| Median House Price: | Median Rental Price: |
| 2 bedrooms – $1.25m | 2 bedrooms- $720 per week |
| 3 bedrooms – $1.53m | 3 bedrooms – $893 per week |
| 4 bedrooms – $1.87 | 4 bedrooms – $1250 per week |
Both Melbourne and Sydney are amazing locations for your next real estate investment. However, do be wise in choosing the properties you invest in. To get the best deal out of every investment property in Australia, make sure to do your own research about the area and the current state of the real estate market in the location.
Ready to expand your investment property portfolio? Book an obligation-free strategy session with us. Contact us now.
References:
https://en.wikipedia.org/wiki/Municipality_of_Leichhardt https://www.yellowpages.com.au/find/public-golf-courses/brighton-east-vic-3187
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