Undercooked Sydney blue-chip property
April 30, 2018 / Written by Rich Harvey
As unappetising as it sounds, undercooked blue-chips are actually a delicious option for investors looking to fill their portfolio with stable, secure holdings that provide great long-term growth potential.
Despite recent reports the Sydney market is past the boil and flipping quickly, we can name an abundance of options available for buyers looking to own a piece of high-quality property.
Blue-chip locations stand tall among the pack. These suburbs allow you to buy with confidence, secure in the knowledge ongoing demand from tenants and owners will future proof your purchasing decision.
Blue-chip suburbs offer facilities residents love and infrastructure to keep them operating.
They’re resilient too. When boom runs come, they gain value faster than many of the also-ran secondary addresses. Also, when the market softens, blue-chips become a ‘run to quality’ for many buyers scared of the risks presented by less appealing addresses.
Keen on getting a taste for blue chips? Here are some of Sydney’s most palatable options.
While Roseville gets all the headlines around Middle Harbour, cross the waterway and you’re in a suburb that can lay claim as a bridesmaid option with excellent potential.
Killarney Heights sits just 10.5km north of the CBD and is full of attractive facilities.
The new Northern Beaches Hospital in Frenchs Forest is close enough to help increase demand from both residents and tenants.
There are harbour lifestyle facilities on hand and homes with water views are always in demand.
A budget of between $1.65 million and $2 million will get access to most listings here.
The key to smart investing is looking for holdings that need a little TLC. Renovation projects do well as long as you’re reasoned about the buy-in price and careful with your reno budget.
Located on Upper North Shore around 13 km from town, West Pymble has some solid economic and infrastructure drivers to ensure its ongoing popularity with owners and renters alike.
It’s another great ‘bridesmaid’ address too, feeding of the popularity of Wahroonga without the super-premium price tag.
There’s also educational facilities available for families with West Pymble Public School and private institution, Our Lady of Perpetual Succour.
The employment hub in nearby Macquarie Park combined with the university in close proximity elevated demand for property.
Views are classic Aussie bushland – a calming outlook among the gun trees for residents.
Recent sales suggest a budget of around $1.3 million to $1.6 million as a kick off – particularly as the house median price is $1.887 million while the unit median is $1.19 million.
Positioned just 10 kilometres north-west of the CBD, Gladesville can lay claim as one of the ultimate feeder locations for aspirant buyers who love the idea of Hunter Hill, but can’t quite make the multi-multi-million-dollar budget.
Gladesville really has it all. Access to striking lifestyle and convenience facilities – some of the best on offer in suburban Sydney actually.
In addition, a frontage to the harbour means access to the water activates that make living in our town so attractive.
The suburb’s history includes industrial uses but demand drivers are seeing gentrification to more resident-friendly option.
Recent sales show you still need access to decent funds with many houses exceeding the $2 million mark, although savvy buyers will find options below this figure that provide excellent upside potential.
Units might be your answer given their median is currents $710,000.
Situated just 5.5 kilometres from town and with neighbours including Bronte, Bondi and Tamarama, it’s no wonder Waverley has made the blue-chip list.
These other suburbs steal the limelight from this from this cracking little inner-city address, but it allows you to enjoy their same facilities as a lower buy-in price.
It has easy access to the shops and cafés, and public transport into town and around the region is a breeze with Bondi Junction close enough to stroll to.
In fact, at just 5.5 km from the heart of town, proximity s its big sell point.
As if that wasn’t enough, the light rail project will boost Waverley’s prospects even more.
One aspect of Waverley that sets it apart is the eclectic styles of housing available. There is pretty much something for everyone. Buying at the price-accessible end of the range is smart as the long-term upside for Waverley will only improve as it becomes more recognised beyond Sydney’s borders.
Waverley buyers should have a touch over $1.65 million on hand for a two-bedroom, semi-detached home, while one-bedroom units will range from $600,000 to $700,000 depending on parking.
Housing will set you back closer to $2.6 million, but you can get into units for a decidedly more attractive $950,000 to $1 million.
Water, water everywhere, and all for you to enjoy.
If peninsula living is what you crave in Sydney, then pop Wareemba on your look-at list.
The suburb is positioned on the second peninsula past Balmain with Wymston Pde providing an esplanade to the water.
Access to town via ferry is fine, but at six kilometres direct, or nine kilometres by road, it’s also close enough for those who don’t mind a long jog to their CBD office.
It’s a small pocket suburb that doesn’t see a heap of traffic (relative to many other Sydney near-water addresses), so you can enjoy the attractions of the inner-west without the hustle-bustle.
Pricewise, a free-standing three-bedroom house buyer will need around $1.6 million while a two-bed 1970s unit is almost half at $850,000. Median prices for the suburb sit well above these at around $2 million for a house and $975,000 for a unit.
One great thing about property in fundamentally excellent locations is it’s able to ride the swings of any market cycle. With solid advice from an experienced buyers’ agent, you can locate those specific properties in blue-chip suburbs best placed to take advantage of the long-term gains.