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North Sydney is in a prime location that supplies both residents and visitors some spectacular views. Perched gently on the Sydney Harbour, North Sydney, whilst not thriving in terms of nightlife, more than makes up for it in terms of convenience making it the perfect suburb for growing and established families.
Residents of North Sydney come in vast and strong - home to many young professionals and young families living in towering state of the art apartment buildings, the area isn’t short of cafes or restaurants for Sunday morning breakfasts or late lunches.
With such a close proximity to Sydney city, only a walk, ride or bus across the Sydney Harbour Bridge, North Sydney is arguably the most convenient area in inner Sydney. However it is dominated by businesses, so on weekends the North Sydney CBD is often quiet, and peaceful.
From one bedroom apartments to luxurious and sometimes magnificent penthouse apartments, North Sydney provides potential purchasers with different apartment price points, in a multitude of different buildings and areas. North Sydney demands a competitive price when it comes to apartments, with the average apartment costing around $780,000, with an average weekly rental price at around $550 p/w.
Parramatta is both a suburb and business district of Sydney. Currently at the forefront of a surge, this once small town, is now regarded as Australia’s fourth-largest central business district. Located only 23kms west of Sydney city, Parramatta boasts a strong transport system, as well as a fully fledged and independent city centre.
Despite its distance from Sydney city, Parramatta has an average age of only 30. With such a young population, comes an emphasis on cafe culture and nightlife. With an abundance of apartment buildings, Parramatta’s apartment blocks are filled with sociable and engaging neighbours, all of whom are looking to extend their network of friends. Yes, Parramatta’s CBD does give the facade of an area dominated by business, but once you peel pack the layers, Parramatta’s emphatic cultural social life shines through.
Whilst Parramatta does feature some very business-y looking people, it never provides a dull moment outside of work hours. It is, however, Parramatta’s multiculturalism that extends not only through its residents, but also its cafes, restaurants and bars that has made it such an attractive place for not only those that live in Parramatta, but those closer to Sydney CBD as well making it perfect for both investors and owner occupiers.
With almost every convenience at your doorstep, Parramatta’s apartment market is thriving, as some of Australia’s top developers are targeting the area for construction over the next 3-4 years. Therefore an apartment in Parramatta will cost on average, $560,000, but, for investors, will also bring in a healthy $450p/w in rental income.