Inner West Suburbs Property: Where Are The Buyers Coming From?
Wouldn’t it be interesting to go behind the curtains and see what exactly the buyers are doing in the Inner West Sydney and what are they aiming to buy? Buckle up because that is what we are going to do for you by analyzing the data which we have collected.
Inner West Suburb Buyers are Local
In accordance with our research that we recently concluded, the experience says that most of the buyers who are looking to buy a property in the Inner West Sydney are none other than those who are already living there. This means that most of the buyers making a move in this side of Sydney are around 80% local rather than being elsewhere from Sydney.
In addition, we have also noted that entry-level homes act like a magnet towards first or second-time buyers. This is probably because they like the area too much or are happy with the familiarization of their surroundings.
When some properties become a magnet as well
Any property can become a magnet for both, the locals and the non-locals. However, what makes a property so special? One of the obvious reasons would be an exceptional beauty but mellow and snuggly places with a large space allowing the individual or a family to have a lot of freedom inside the house is also something to be considered.
In addition, buyers who are interested in houses near commercial areas, or educational facilities will also be more willing to make a strong move from anywhere around the city to the Inner West.
It’s all about the individual preferences.
Where do the non-locals come from?
To be super honest, there is no definite rule that a buyer will come from the outside of Inner West or even outside of Australia.
A property may meet the requirements of someone living in the North Shore while it may be a complete deal breaker for someone living in Newtown or Ashfield (some neighbors of the Inner West Sydney). In addition, someone, for example an international student might be willing to cross every border all the way from the United Kingdom to move to the Inner West of Sydney.
Anyone who is willing enough to completely settle down in this area will also be willing to leave behind everything where they are currently residing, whether it’s Melbourne, Sydney or any other place.
Hence, it’s not about where the buyers are coming from but rather whether their requirements are being met and once they are met, any obstacle can be overcome.
What about the local ones?
Each of the suburbs in the Inner West has its own advantages and disadvantages. People from the Strathfield South are more likely to move to another suburb such as the Balmain East because of its uncongested roads, easily-accessible transport (bus stops everywhere) and spectacular views. However, the Balmain East is not a much commercialized area when compared with the Birchgrove or Glebe.
So what does this prove? It simply reiterates the fact that it all depends on the personal preferences of the buyers. According to some popular real estate websites like domain.com.au, Birchgrove and Glebe are the top most favorite and livable suburbs of the Inner West whereas others like Strathfield South, Wareemba and Wentworth Point are not the best preferences for someone who is looking to live in a peaceful area as these mentioned suburbs, especially Strathfield South is very noisy because of 24/7 congested roads.
So, what’s in it for you?
The point is, different properties tend to attract people from different geographical areas. It is a wise choice to get the help of a real estate agent as they will be able to tell you what and who your property is most likely to attract.