Should I buy in Chatswood?
Suburb Report – Chatswood, NSW, 2057
Location
Chatswood is one the North Shore’s most dynamic and desirable suburbs. It is in the local government area of the Municipality of Willoughby and is located only 10km north of Sydney’s CBD. With neighbouring suburbs of Roseville, Willoughby and Artarmon, Chatswood is one of the major commercial and retail districts in Sydney. It boasts two huge shopping centres and is home to the Australian headquarters of Vodafone, CSR Limited and Carter Holt Harvey.
Household Occupancy
Chatswood attracts young, professional residents with the primary age group falling between 20-29 years. Couples with children make up 28% of the population, childless couples 24% and single parents 23%. With regard to occupancy, the largest demographic are renters, making up a considerable 40% of residences. Following closely behind, 32% of residents own their home outright and the remaining 24% who are purchasers would be paying more than $2,000 a month in mortgage repayments. The majority of residents in Chatswood are earning generous salaries of greater than $103k per annum.
Median Prices
Currently, the median sale price of houses in the area is $1,370,500, a 6.3% growth since 2009. On average, this price tag will purchase a three to four bedroom, two bathroom home with a garage. In comparison, the median sale price for a one to two bedroom, one bathroom unit with car parking facilities is $593,000. This represents a 5.2% growth in the last twelve months. During the last six months the top sale prices recorded for each category of $5,950000 and $1,560,000, respectively, were recorded. Chatswood filed a healthy 398 unit sales and 145 house sales in 2009.
The Properties
29A Archer Street is an ideal residence for a professional couple with a young family or an investor looking for a family oriented tenant. It is an immaculate, stylish townhouse peacefully set on a quiet Chatswood street, conveniently close to shops and transport but removed from the bustle of the commercial centre. The three bedroom, three bathroom townhouse boasts a beautiful alfresco dining terrace and landscaped outdoor garden areas, making it the perfect choice for buyers who love to entertain. The extensive light-filled living spaces, two sunny balconies and contemporary living facilities make for a sophisticated, yet relaxed living experience. There are also two undercover parking spaces, a lock up garage and large storage room.
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The Neighbourhood
Chatswood is a family friendly area offering five parks, covering almost four percent of the total area. Two of the most popular local spots include Chatswood and Beauchamp Parks. Chatswood Park is one of the North Shore’s largest sportsgrounds, home to the Gordon Rugby and Cricket Clubs and offers a vast array of recreational opportunities including a bike track and playground for children. Beauchamp Park is the perfect location for a family day out. The picturesque area is cool and shady with a magnificent mixture of native and exotic fauna species. It offers a basketball court, beautiful picnic setting and even an unleashed dog exercise area. There are three schools and three childcare centres in Chatswood, catering for the primary demographic of couples with children.
Transport
The Sydney CBD is easily accessible from Chatswood by road and rail. Chatswood Railway Station is a 25 minute journey from Central Station and is on the North Shore and Northern lines of City Rail network. Services run north to Hornsby and south to the CBD before continuing west to Strathfield. During peak hour, services also operate to the Central Coast, with major stops in Gosford, Wyong and Newcastle. The recent development of the Epping to Chatswood rail network has significantly increased access to Sydney’s North Western Suburbs and Macquarie University. Major roads through the district including the Pacific Highway, Boundary Street, and Willoughby Road connect Chatswood to surrounding suburbs. Frequent bus services operate to most Sydney regions including the Eastern Suburbs and Northern Beaches.
Restaurants, Accommodation, Amenities
Chatswood is widely renowned for its shopping. It is home to two major shopping giants, Chatswood Chase and Westfield Chatswood and boasts a vast array of exclusive boutiques that line the pedestrian mall on Victoria Avenue. Chatswood Chase houses David Jones, Kmart and approximately 120 specialty stores whilst Westfield accommodates the likes of Myer, Target, and an extensive 300 specialty stores. Complimenting this commercial scene are the artisan stalls of the Melody Markets, held every Thursday in Chatswood Mall as well as the Chatwood Public School Farmers Market, with its offerings of organic produce every Saturday. Chatswood Mall is always a buzz with locals enjoying different cuisines at the wide range of Chinese, Vietnamese and Greek restaurants. Chatswood is also home to two stylish hotels. The Mantra is very close to the railway station, whilst the Sebel is walking distance from Westfields. The Chatswood Club on Help Street is a very popular local destination for birthdays, weddings and other functions.
Want help?
Contact your local Mortgageport team consultant for further information on buying in Chatswood and what loan best suits your needs.
