First home buyers can unearth Sydney property gems for under $600,000, says Raine & Horne

As Australia’s most desirable city, Sydney has a median house price of just over $930,000, meaning first home buyers considering a property move in 2019 must be prepared to be flexible if their property only extend to $600,000.

“Moreover, if you can find a perfect first home for less than $650,000, you won’t pay any stamp duty, a saving of many tens of thousands of dollars,” said Angus Raine, Executive Chairman, Raine & Horne.

Location is one aspect where it pays for first time buyers to be flexible, advises Mr Raine.

“If you can’t afford your preferred suburb, consider a neighbouring postcode – it could be poised to benefit from the price growth of surrounding locations, and that can mean great buying opportunities,” he explains.  

“Similarly, you may have your heart set on a house, but don’t overlook more affordable options such as an apartment, townhouse or duplex. It’s all about taking that first important step on the property ladder.

“If you’re prepared to consider an apartment, good value can still be found in the city’s inner west, east and southern corridors.”

Inner west first time opportunity

Regularly referred to as the Paddington of the Inner West, first time buyers can score an apartment prize at 1/60 Arthur Street, Marrickville for a very affordable $579,000, according to listing agent, Filippo D’Arrigo, Co-Principal, Raine & Horne Marrickville.   

“Marrickville is popular with property buyers because the suburb offers open spaces, boutique shopping options, excellent local schools and reliable bus and train services,” says Mr D’Arrigo

“About 95% of Marrickville’s homeowners and renters work in the CBD and they can get a fast train or express bus to the CBD in under thirty minutes.”

Conveniently positioned, the Arthur Street apartment is filled with natural light, and features a combined living and dining area, kitchen with gas cooking, and two comfortably sized bedrooms, according to Mr D’Arrigo.

“The apartment has a modern bathroom and the convenience of a car space on the title. This is an outstanding buying opportunity for a first home buyer or investor offering scope to renovate and update in the future.”

Eastern Suburbs café and beach lifestyle

If you’re seeking to take a first step on the prestigious Eastern Suburbs property ladder, then 422/850 Bourke Street, Waterloo could be a viable option at $555,000, according to Katherine Lawson, Business Development Manager, Raine & Horne Green Square.

“This apartment is relatively small, so be sure to get your finance in place first with the help of a mortgage broker,” says Ms Lawson.

“Once the finance is ticked off, this perfectly located, north facing one-bedroom apartment comes with plenty of natural light and is ideal for first home buyers seeking to capitalise on the current stamp duty concessions in NSW.”

Waterloo is well-served by public transport and is close to Sydney Airport, the CBD and Sydney’s famed beaches such as Bondi, Bronte, and Coogee, notes Ms Lawson. 

“Moreover, the Waterloo precinct has undergone a major facelift with the addition of plenty of green spaces and less industrial property,” she says.

“The apartment is also close to the cafes and shops of the East Village, as well as the Dank Street restaurant strip and is the perfect start for a real estate first-timer.”

Southern first-timer hotspots

First time buyers will find some apartment jewels in southern Sydney suburbs such as Bexley and Beverly Hills that could help them achieve their homeownership goals early in the new year.

Raine & Horne Bexley/Beverly Hills, for example, is selling a two-bedroom apartment at 6/637 Forest Road, Bexley for $599,000.

“Perfectly placed only a quick drive from the Hurstville CBD and with Patricia Carlon Reserve, shops and transport even closer, this comfortable contemporary apartment is ready to be enjoyed by a first time buyer,” said selling agent, Sam Epsimos, Director of Raine & Horne Bexley/Beverly Hills.

A selection of Sydney properties under $600,000

Address

Price

1/60 Arthur Street, Marrickville

$579,000

20/31-33 Villiers Street, Rockdale

$579,000

4/1-5 Hampden Street, Beverly Hills#

Price guide $500,000- $520,000

26/637 Forest Road, Bexley

$599,000

422/850 Bourke Street, Waterloo

$555,000

6/143 Brisbane Street, St Marys

$519,950

#Auction 15 December 2018

Source: rh.com.au