Realestate.com.au has compiled a list of Sydney’s most promising suburbs for first time home buyers.

“First-home buyers have a rare window of opportunity to snap up properties in more favourable purchasing conditions this spring — if they know where to look,” a spokesperson says.

“Recent interest rates cuts and more relaxed lending policies from banks have brought a range of once out of reach suburbs back into the budgets of many first-timers.

“First-home buyers also face less competition for properties within their intended price range because banks are still restricting loans to investors. Many first-home buyers appear to have picked up on the improved environment.”

Hornsby:

Distance from CBD/Sydney: 25km
Population: 22,168
Median apartment price: $627,500

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“Hornsby is well serviced by public transport, both buses and trains, and this has made it popular with first-home buyers.”

Freshwater:

Distance from CBD: 12km
Population: 8866
Median Apartment price: $792,000

“The suburb has a strong village feel, a main street of hip cafes and fashion shops.”

Collaroy:

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Distance from CBD: 18km
Population: 7870
Median Apartment price: $838,750

“Collaroy has the feel of Byron Bay on the northern beaches. There is a strong emphasis on outdoor living from surfing, to swimming to exercise.”

Lane Cove:

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Distance from CBD: 9km
Population: 10,817
Median Apartment price: $757,000

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“Buses to the city leave the Lane Cove Interchange every 10 minutes, and there is also ferry access from Longueville or Northwood.”

North Ryde:

Distance from CBD: 15.8km
Population: 10,860
Median Apartment price: $765,000

“The suburb of North Ryde is most commonly known among Sydneysiders as the site of Macquarie University, but the suburb is brimming with other major amenities, attracting buyers from all over the city.”

Marsfield:

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Distance from CBD: 18.6km
Population: 13,297
Median Apartment price: $731,000

“Delightfully leafy and largely residential, the northern suburb of Marsfield is seeing an increase of young professionals buying into the area.”

Annandale:

Distance from CBD: 5.1km
Population: 9451
Median Apartment price: $780,000

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“A peaceful haven amid its busy neighbouring suburbs, Annandale is easily recognised by its unusually wide streets, waterfront location and unique workers’ cottages.”

Leichhardt:

Distance from CBD: 6.2km
Population: 14,625
Median Apartment price: $875,000

“Home to some of Sydney’s best Italian eateries along Norton St and the Italian Forum, the annual Italian Festa food festival, and Tuscan architecture, Leichhardt is famed for its rich Italian heritage.”

Newtown:

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Distance from CBD: 6.9km
Population: 15,029
Median Apartment price: $666,000

“Its vibrant artistic presence, buzzing cafe culture and enviable sense of community are some of the many things that make Newtown so appealing to both residents and visitors alike.”

Paddington:

Distance from CBD: 2.8km
Population: 12,911
Median Apartment price: $825,000

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“Paddington is a national treasure and realestate.com.au says it’s consistently the most-searched suburb in the eastern suburbs.”

(Source: Realestate.com.au)

KIIS 1065 Sydney