Is Crows Nest a good area for property investment?
Suburb Report - Crows Nest, NSW, 2065
Location
Crows Nest is a suburb on the Lower North Shore of Sydney, New South Wales. Crows Nest is located five kilometers north of the Sydney CBD, in the local government area of North Sydney Council. It is centered on the junction of five main roads; including the Warringah Freeway, which runs along the northern border and the Pacific Highway, a major road along the western border.
Household Occupancy
Crows Nest attracts young, professional residents, with the primary age group falling between 30 - 39 years. Households are also predominantly sole parents. With regard to occupancy, the largest demographic are renters, making up 49% of residences and therefore offering a fantastic investment opportunity. The average rent is $330 per week. The 28% of residents, who are purchasers, would be repaying more than $2,000 per month in mortgage repayment.
Median Prices
The median sale price for a 3 bedroom, 2 bathroom home in Crows Nest is currently $931,000. In comparison, the median sale price for a 1 bedroom, 1 bathroom unit is $483,000, with top sale prices recorded for each category of $1,850,000 and $1,200,000, respectively, in the last twelve months.
The Properties
Typifying the opportunities, 149 Chandos Street is billed as an ideal residence for a family or investor looking for a family orientated tenant. It offers three good sized bedrooms, large living areas and double carport. The house is set on a 290sqm parcel of land with a northerly aspect. The home also boasts sun drenched front porch, easy care garden & paved rear yard. Unusually in a home this size, the house also has its own separate residence with additional bathroom facilities, making it ideal for grown-up children, a nanny or guests.
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The Neighborhood
Given its central location and busy shopping and dining district, Crows Nest can be surprisingly quiet with a number of wide, tree-lined streets. There are a number of parks including St Thomas Rest Park, which was once the areas first cemetery and still holds the graves of many of the area’s notable residents from the 1850’s and beyond.
Transport
Wollstonecraft railway station is on the North Shore Line of the City Rail network and services the Crows Nest area. Alternately, there is a direct bus route into the Sydney CBD which is approximately five kilometers or 10-15 minute drive. Sydney Buses are probably the most popular transport option, with frequent services to North Sydney, Neutral Bay, Manly and Chatswood also.
Restaurants, Accommodation, Amenities
Crows Nest is a hub of dining activity, with more than 150 bars, bistros and restaurants offering fare of all nationalities – including the ever-popular yum cha favourite – Sea Treasure. The suburb has also a busy shopping strip with retail shops and is just a short distance away from Chatswood Westfield. Two of Sydney's major hospitals, The Mater and Royal North Shore, are within walking distance.
Want help?
Contact your local Mortgageport team consultant for further information on buying in Crows Nest and what loan best suits your needs.
