Sydney’s best value suburbs within 10km of CBD revealed
All suburbs within 10 kilometers of the city center were well above the Sydney-wide median of $2466 per square meter – which increased by about 140 percent over the decade.
Increasingly, BuyerX buyers agent Hamada Alameddine observed that West of the West customers, particularly young families, were turning to suburbs such as Ashbury, Ashfield, Arncliffe, Earlwood and Canterbury for better value.
“A lot of people are moving further west … they want more space because they want to start a family or have young children,” he said.
“In those suburbs in the $1.5 million to $2 million range, we’re talking about them getting a three- to four-bedroom house at 350 to 500 square feet.”
While buyers got more space, the trade-off was often a longer commute to work, shops, and other amenities. But some suburbs struck a good balance.
“You will always compromise [when on a budget]you will give up one thing to get something better.”
Canterbury’s Sonia Battistini is selling her three bedroom house but is hoping her family can stay in the area.
She commends the suburb for its shopping, cafes, pool, ice rink, access to the Cooks River trail, green spaces, and proximity to West West suburbs like Marrickville, Dulwich Hill, and Summer Hill.
The train line provides an easy route into the city and Canterbury station will be part of the tube upgrade project.
“The great thing is that you have the Inner West lifestyle but not the Inner West price tag,” she said.
She’s seen the neighborhood grow and thrive since moving in seven years ago and believes it’s a suburb to watch.
“We really enjoy the area. It’s a bit of a hidden gem,” she said.
Her agent, Ray White Drummoyne’s Mario Carbone, said Canterbury is just a suburb of the Inner West but is often associated with Bankstown because it’s in the Canterbury-Bankstown Borough.
“Bankstown is a lot further away than Canterbury. Because of that, people tend to overlook it,” he said.
“Now we’re finding that people are price-wise leaving Hurlstone Park, Earlwood, Marrickville, Petersham, Dulwich Hill — it’s essentially the closest suburb and people are starting to see the value in that.”
He said there had been little consistency recently in selling prices, which could vary by area of Canterbury, but stocks were very low and the area was tight.
“I wouldn’t be surprised if we see things really take off over the next few years,” he said.
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https://www.smh.com.au/property/news/people-tend-to-overlook-it-the-best-value-suburb-within-10km-of-sydney-s-cbd-20230315-p5cs9z.html?ref=rss&utm_medium=rss&utm_source=rss_property Sydney’s best value suburbs within 10km of CBD revealed