Should I buy in Artarmon?
Suburb Report – Artarmon, NSW, 2064
Location
Artarmon is a suburb on the Lower North Shore of Sydney. It is nine kilometres north-west of Sydney’s CBD and is in the local government area of the Municipality of Willoughby. Bordered by the neighbouring suburbs of Lane Cove, Willoughby and Naremburn, Artarmon comprises a mix of residential, commercial and industrial regions.
Household Occupancy
The predominant age group in Artarmon falls between 30-39 years. In relation to demographics, single parents make up the largest group of residents, occupying 26% of households. Childless couples make up 25% of the population, couples with children 25% and lone households 16%. 46% of residents in Artarmon are renting their homes, 25% own their homes outright and 25% are purchasers. Those who are purchasing their homes would be paying more than $2,000 a month in mortgage repayments. The majority of residents in Artarmon are employed in professional occupations, earning salaries of greater than $103k per annum.
Average Prices
In 2010, the average sale price of houses in the area is $1,579,437. On average, this price tag will purchase a three to four bedroom, one to two bathroom home with a garage. In comparison, the average sale price of a one to two bedroom, one bathroom unit with car parking facilities is $598,692. Top sale prices for each category of $2,250,000 and $868,000, respectively, have been recorded in the last six months. 188 units and 40 houses were sold in Artarmon in 2009.
The Properties
19 Cameron Avenue is the ideal family residence. The delightful four bedroom federation home boasts abundant living space and a convenient location, making it a perfect retreat for the modern family. The property is distinguished by its luxurious parterre gardens lining the front and rear of the home. It is also a great entertainment setting, featuring a sunlit living room that flows outdoors to a generous-sized courtyard and exquisite water feature. The home offers a tandem garage, cellar and home security and is only a two minute walk from Artarmon Railway Station and local shops.
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The Neighbourhood
Artarmon offers a vast array of recreational opportunities and features nine parks that cover seven percent of the total area. Artarmon Reserve on Burra Road is one of the most popular family spots offering a playground, dog exercise area, two barbecues, picnic tables and a bike/walking track. Thomson Reserve is another busy recreation area that boasts a fenced playground, basketball court and sportsground, which is converted from a soccer field in the winter months to a cricket pitch in summer. A number of retails stores line Hamden Road, directly across from Artarmon Railway Station, but many locals travel to nearby Chatswood for greater shopping opportunities. Artarmon Public School is the only school in the suburb.
Transport
Artarmon Railway Station is on the North Shore and Northern lines of the City Rail Network and is approximately a 20 minute journey from Central Station. Services run north to Hornsby and south to the CBD before continuing west to Strathfield. The Gore Hill Freeway and Pacific Highway meet at Artarmon, both providing vital links to surrounding suburbs and districts further north of Sydney. Willoughby City Council has also started a free shuttle bus service operating between St. Leonard’s and Artarmon on weekdays only.
Restaurants, Accommodation, Amenities
Wilkes Avenue is lined with a vast array of restaurants of Japanese, Italian and Thai cuisines. Gourmet Pizza on Wilkes, Thai Charm and Sushi-Ya are three local favourites. The Punt Hill Hotel is a stylish hotel that has just completed an extensive refurbishment program and is ideal for the leisure or business traveller. It is only minutes from the corporate and commercial precincts of Chatswood. The Best Western Twin Towers Inn is another ideally positioned hotel that offers a variety of conference and function facilities.
Want help?
Contact your local Mortgageport team consultant for further information on buying in Artarmon and what loan best suits your needs.
