Is St Leonards a good area for property investment?
Suburb Report - St Leonards, NSW 2065
St Leonards has seen the highest number of property sales in Sydney’s North Shore area. A busy, fast paced suburb, St Leonards provides easy access the centre of Sydney, North Sydney, Chatswood and the Northern Beaches. Due to the fact that most of the dwellings in the area are high density with a large number of renters, this area presents a great opportunity for property investment.
Location
On the North Shore of Sydney, St Leonards is positioned on the Pacific Highway, eight kilometers north-west of the Sydney central Business District and lies across the local Government areas of Municipality of Lane Cove, North Sydney Council and the City of Willoughby.
Household Occupancy
St Leonards is largely characterized by the large apartment buildings that line the Pacific Hwy and surrounding roads. It is not surprising therefore that most of the dwellings in the area fall into the high-density category. More than 50 per cent of households in St Leonards are lone households or have single parent occupants and, of these, 66 per cent are renters. The 20 per cent of occupants who are purchasing their property would be paying an average of $2,000 per month in mortgage repayments and, in general, people who live in St Leonards work in a professional occupation.
Median Prices
The median sale price for a 4 bedroom, 2 bathroom home in St Leonards is currently $1,431,000. In comparison, the median sale price for a 2 bedroom, 2 bathroom unit is $555,000 with top sale prices recorded for each category of $2,000,000 and $2,950,000, respectively, in the last twelve months.
The Properties
Typifying the opportunities, 108/19-23 Herbert, is billed as an ideal residence for a professional single/couple or investor. The apartment comprises 110m2 of space, two bedrooms, two bathrooms, two balconies and a sunroom. It also has separate laundry and security car space. Located in a secure building, residents are also give access to a gym and swimming pool.
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The Neighbourhood
St Leonards contains one of Sydney's suburban skyscraper clusters, with major offices for many large companies including IBM, Lenovo and 3 Mobile Australia. The Forum, which was completed in 2003, is built over St Leonards railway station and comprises three commercial office buildings, two residential towers containing 782 apartments, a supermarket, and 34 food and retail shops. The suburb's tallest building is the Forum I, with panoramic views of the city skyline.
Transport
St Leonards railway station is on the North Shore Line of the City Rail network. The suburb is around twenty minutes or 8 kilometers away from the centre of Sydney by train and five minutes or 4 kilometers from Chatswood. St Leonards is easily accessed by car, with the Pacific Highway running through the middle of the suburb. Buses are a popular transport option, with frequent services to North Sydney, Neutral Bay, Manly, Chatswood and the centre of Sydney.
Restaurants, Accommodation, Amenities
St Leonards has a number of restaurants and hotel, but it is nearby Crows Nest that will most likely be the drawcard for entertainment for local residents. Crows Nest has a busy shopping strip with retail shops and a diverse range of cafes and restaurants. A short distance away is Chatswood Westfield, which draws shoppers from all over Sydney with its mix of major chain stores and luxury brand shops. Royal North Shore Hospital is also located on the Pacific Highway in St Leonards. It is a major metropolitan hospital servicing the North Shore area. The suburb also contains a campus of the University of Technology.
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