By Guest Blogger, Leanne Pilkington, Managing Director,
Laing & Simmons and President REINSW
Locals call it God’s country. Some pockets are “hidden jewels” in agent-speak. But if Sydney’s Shire was ever a “best kept secret”, the secret is now out, with more and more people from across Sydney and further afield attracted to the lifestyle on offer in this naturally beautiful region. The result, predictably, has been growth, but there’s still plenty of value on offer.
While buyer interest in the Shire is growing among people from other parts of Sydney, property sales in the region continue to be dominated by locals. Those who have grown up in the area want to stay.
As such, homes are often tightly held, and stock is in short supply. Those who own property in the Shire will most likely have achieved considerable capital growth in recent years.
Buyer enquiries are strong. In recent times, the Shire has welcomed a new type of buyer from areas like the Eastern Suburbs and Inner West, popular markets in their own right, but places without some of the Shire’s advantages.
For instance, the beach. Unlike other Sydney beaches, the Shire’s beaches are accessible by train. Many younger people including first home buyers see this as a major plus.
The increase in working from home elevates the importance of location benefits and the Shire has many to offer: The Royal National Park and other natural assets, a great range of shopping and dining choices including the most modern Westfield in Sydney, the airport is close, and the CBD is only a short drive away.
People can enjoy more space in their own homes and have easy access to a greater variety of amenity in their neighbourhood than they would otherwise enjoy in other areas of Sydney.
The Shire is comprised of plenty of different property types, some of which are comparatively affordable, when they do hit the market, that is. Within a 5-minute drive, you’ll find luxury waterfront homes, large family houses, duplexes, townhouses, villas and apartments, some brand new and others old style.
It’s an interesting, diverse mix which is like the Shire itself. Prices can vary significantly depending on the pocket you’re interested in. For instance, in Cronulla, houses are at a premium, with a median price of $2.5 million. Cronulla’s median unit price is $890,500.
That’s if you want beach side. If you want access to the Georges River, Kareela is an ideal suburb where the median house price is $1.15 million.
However, in Engadine, which is right on the Princes Highway and has a train station, the median house price of $1.0 million is a more affordable choice for families, with units at a median price of $660,000. In Miranda the median house price is $1.25 million, with units at $685,000, while in Sylvania Waters, which has great water views, the median house price is $2.1 million.
There’s choice for buyers across the spectrum and first home buyers have been particularly active in recent times. Local agents also report strong enquiries from younger families looking to upgrade as they see value in the area, and many are willing to pay a premium given the shortage of homes available.
There are also many downsizers looking to move to lower maintenance properties, such as apartments, townhouses and duplexes. Developers are responding and recent rezoning’s in specific areas has enabled new projects to progress to meet growing demand.
That demand will only get stronger. The number of people from across Sydney warming to the many delights of the Shire will continue to grow, but there will always be competition for properties from a proud local population who understand better than anyone what makes the Shire such a great place to live.
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