Newtown is an inner city suburb of Sydney. Typical inner city suburb, lots of character homes, relatively small, used to house a lot of the workers who worked in factories in and around that area. But now lot of those factory workers are long gone and office workers are moving in. Very popular with office workers, because it’s only 5 minutes to the city. Kingstreet which is the main street that runs through Newtown is like United Nations all in one strip. There is a lot of shops and most of them are doing very well, so that’s a good sign that the local economy is doing quite well, very popular with university students, because the uni is not far away. Very popular with staff that work at the Royal Prince Alfred Hospital because that’s not too far away and as I have already said, very popular with office workers because there is not one but two train lines around Newtown to into the city, so very popular with a large demographic.
Why buy in this suburb?
The reasons you should buy in Newtown. It’s very close to the city and proximity to the city is one of the biggest drivers of capital growth. For investors, you got a large pool of potential tenants, you’ve got office workers that is close to the city, you’ve got students because of its proximity to Sydney University and you’ve got even medical staff or paramedical staff that work in the hospital nearby. Renovation territory, absolutely fantastic. Stick to buying a nice old home. When I say old, something around a 100 years old or even more, because you can certainly quickly add value through renovations of older homes and also increase your rent.
Best Streets to buy in
Georgina Street would have to be best street in Newtown. Millionaire dollar homes, Hollis Park nearby, not too far from King Street, just a beautiful spot.
Streets to avoid
Areas to avoid, I have already said that there are two train lines in Newtown, so you don’t want to be buying right on the train line, as it can be very noisy and also there is a large cemetery there, St. Stephen Cemetry which you want to avoid buying opposite to.
Stay tuned for more updates or join us on Facebook and access exclusive full-length videos and send us your questions! https://www.facebook.com/YourInvestmentProperty
