Should I buy in North Ryde?
Suburb Report – North Ryde, NSW, 2113
Location
North Ryde is a suburb located fifteen kilometres north-west of Sydney’s CBD. It is in the local government area of the Municipality of Ryde and is one of Australia’s major business districts, home to computer corporations such as Microsoft and Hewlett Packard. North Ryde is surrounded by the suburbs of Macquarie Park, East Ryde and Lane Cove West.
Household Occupancy
The predominant age group in North Ryde falls between 40-49 years. In relation to demographics, couples with children make up the largest group of residents, occupying 38% of households. Childless couples make up 24% of the population and single parents 19%. 43% of residents in North Ryde own their homes outright, 32% are purchasers and 22% are renting. Those who are purchasing their homes would be paying more than $2,000 a month in mortgage repayments. The majority of residents in North Ryde 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 $881,594. 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 two to three bedroom, one bathroom unit with car parking facilities is $665,142. Top sale prices for each category of $1,458,000 and $823,000, respectively, have been recorded in the last six months. 17 units and 105 houses were sold in North Ryde in 2010.
The Properties
22 David Avenue is the ideal family residence. The five bedroom home includes a generous sized formal lounge with a bay window as well as separate dining and family rooms. The covered rear entertaining deck is perfect for entertaining guests and the grassed yard caters for families with young children. The impressive home offers built in wardrobes, a master ensuite, large deluxe eat-in kitchen, internal laundry and tandem garage. It also includes a separate two bedroom flat ideal for in-laws or older children. It includes a large eat-in kitchen, laundry and bathroom. The property is only a few minutes walk from Macquarie Centre, University, Technology Park, railway station and bus transport.
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The Neighbourhood
North Ryde offers countless parks, reserves and recreational areas. The Lane Cove National Park is a popular tourist destination that also occupies the surrounding suburbs of Willoughby, Lane Cove and Hunter’s Hill. The Great North Walk which runs from Sydney to Newcastle passes through North Ryde and is commonly used by locals who enjoy the spectacular scenery as they walk. The North Ryde Golf Club is a par 69 golf course that offers picturesque natural surroundings and a clubhouse commonly used for weddings, birthdays and corporate functions. The Cox Road Shopping Centre is a small shopping mall that features a supermarket, post office and other specialty stores. North Ryde is also home to three schools, North Ryde Public School, Truscott Street Public School and Holy Spirit Primary School.
Transport
North Ryde railway station is an underground railway station on the Epping to Chatswood railway line. Services run north to Hornsby and south to the Sydney CBD. It is approximately a 30 minute journey to Central station. A number of private bus services also operate in the area. These include the routes 285-297, 506, 534-535. The M2 Hills Motorway passes through North Ryde and connects to the Lane Cove Tunnel which leads to the Sydney Harbour Bridge. Lane Cove Road links to suburbs south-west of North Ryde including Homebush and Sydney Olympic Park while Epping Road links North Ryde to the Municipality of Lane Cove.
Restaurants, Accommodation, Amenities
Cox and Blenheim Roads are lined with a diverse range of cafes and restaurants of international cuisines. Some local favourites include Luigis Pizza Bar, Praram Thai and Taiyoh Japanese. The North Ryde RSL Club is a popular local destination that offers three restaurants, frequent entertainment, a function centre, gym and several sport and recreational clubs. The Stamford Grand Hotel is a well sought-after, four and a half star resort style hotel. It offers 257 rooms with spectacular views overlooking the tropical gardens, pool or waterfall. It includes the Captain Cook’s Cove restaurant and several function rooms perfect for wedding receptions. The Travelodge Macquarie and Quest Serviced Apartments are more affordable but very comfortable options, ideal for both the business and leisure traveller.
Want help?
Contact your local Mortgageport team consultant for further information on buying in North Ryde and what loan best suits your needs.
