Flexibility and greater affordability on offer for wise Sydney property buyers
The smart money is on this part of the nation’s most expensive capital as prices hold steady and yields continue to perform consistently
3 min
Western Sydney is increasingly the smart choice for canny property investors, a new report suggests.
The Month in Review report for March 2023 by property valuation and advisory group Herron Todd White singled out the region as representing more varied and affordable options with consistently strong yields for both units and houses over the next few months as investors and owner-occupiers navigate a volatile property market.
“Western Sydney has always been a smart choice for investors and owner-occupiers alike and despite the weaker market, we consider this should continue throughout 2023,” the report said. “The high level of infrastructure investment in the region coupled with relatively lower median house prices and the shift to more people working from home has highlighted that more affordable and larger homes with backyards are still hot property and good long-term propositions.
“The ever-popular house and granny flat is a staple for Western Sydney investors given the larger block sizes and versatile living arrangements for extended families or as a pure investment.”
While values have softened over the past 12 months, the falls have not been nearly as substantial as they have been in other parts of Sydney. The report points to areas such as Blacktown where median values dropped by just 1.2 percent over the past year to $870,000 while yields have increased by 7.5 percent to $457 a week over the same period. The results are even more significant in Penrith, where median rent for a two-bedroom unit now sits at $420 per week, an increase in yield of 4.1 percent. At the same time, the median price of a two-bedroom unit has risen by 11.4 percent to $532,500 over the past year. The report points to the area’s relative affordability and planned infrastructure to account for the rise.
Greater demand for more rental units around universities as students return to the Australian higher education market has been responsible for increased yields around Macquarie Park, the report said, as staff and students at Macquarie University seek accommodation.
“There are only 110 units currently available for rent with an estimated 1500 renters actively looking for accommodation,” the report said. “Macquarie University is home to more than 44,000 students and 2000 staff members. The Australian Government predicts a further 40,000 international students are expected to arrive in Australia for first semester classes in 2023 commencing in March.”
At the moment, the rental yield for Macquarie Park is 3.6 percent, while the average yield for the rest of Sydney sits at 2.7 percent.
National director of residential at Herron Todd White, Ben Esau, said that there is likely to be further volatility in the residential market in the coming months as more borrowers come off fixed interest rates. Estimates suggest that up to a third of mortgage holders are fixed on lower rates, with most expected to end this year. While it may provide opportunity for those looking to add to their portfolio or enter the market, as the RBA continues to lift rates, caution is advised to those chasing higher yields.
“Although the prospect of increasing rental values may seem attractive as an investor, it may not be so straightforward as landlords need to grapple with the process of potentially passing on increasing interest rates to struggling tenants,” Mr Esau said.
“Of course, there are also investors who will be significantly impacted by the increasing costs to service an investment property, but where banks are generally well structured to deal with clients in financial distress, individual landlords may not have that capability and may need to navigate chasing increasing returns and the human impact of a fast-paced rental market.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Amer Group has revealed the latest addition to the Porto Said project.
4 min
Amer Tourism Development Company, a subsidiary of Amer Group, has unveiled the Royal Tower phase, the latest addition to the Porto Said project. This phase offers a unique investment opportunity due to its prime location and luxurious designs. The project is notable for its strategic positioning, excellent climate, and breathtaking sea views.
Located on the Port Said-Damietta Road, Porto Said is ideally situated just 10 minutes from Port Said port and 15 minutes from the city of Damietta. Leveraging decades of experience, Amer Group has successfully positioned this mega-project as the ultimate destination for those seeking excellence and luxury.
Dr. Amged Sebak, the CEO of Amer Group, expressed his great delight in launching this phase, affirming the great importance the company attaches to the project as one of its most important projects. “We are proud to announce the opening of the ‘Royal Tower’ phase in the Porto Said project, which represents a new step towards realizing our vision of providing a luxury and integrated living experience to be a symbol of elegance and prosperity, and providing all the amenities and services that ensure the comfort and prosperity of its residents. In addition to its strategic location in Port Said, it makes it an ideal destination for living and investment. We are committed to providing the highest standards of quality in all aspects of the project, from luxurious interior designs to advanced infrastructure and distinguished services.”
Dr. Amged Sebak added, “In Porto Said, we believe that the luxurious life requires a balance between comfort and convenience, and between innovation and tradition. Therefore, we have ensured that ‘Royal Tower’ is a place that combines these elements and provides a unique residential experience. It provides residents with stunning views that create an atmosphere of tranquility and relaxation. Residents can enjoy the blue waters and surrounding green spaces, making every moment in ‘Royal Tower’ an unforgettable experience.”
All units of “Royal Tower” are distinguished by their unique facade, making it a haven that combines comfort and convenience, and exudes an aura of elegance and sophistication. Every element of these units has been meticulously studied, and the designs have been executed according to the highest standards, reflecting a sense of luxury and simplicity. The residential units in “Royal Tower” vary between luxurious apartments, meeting all the needs of the residents and providing them with a comprehensive living experience. The designs of the “Royal Tower” units rely on the spacious areas that provide complete comfort for the residents. They include large windows that allow natural light to enter and panoramic views of the swimming pools and green spaces, and the flooring is made of luxurious marble and the interior finishes have been carefully selected to complement the luxurious character of the units.
The Port Said project offers a diverse range of hotel services and residential apartments, in addition to a seafront promenade that includes a variety of restaurants and cafes for the best times. The hotel services in the project include a five-star hotel that provides the finest services and facilities to ensure an unforgettable stay experience. The hotel is equipped with the latest amenities and technology, including a luxurious Spa, Gym, and indoor and outdoor swimming pools.
The project also includes residential apartments, a sports club, restaurants and cafes, an administrative building, a medical center, an international school, and a hotel. The beachfront extends for 1.3 kilometers and includes bike and running paths, as well as a mosque. The project is designed to be an ideal destination for both families and individuals, providing all the amenities and services that residents may need. The project includes the NIS international school, which offers advanced educational curricula to meet the needs of students of all ages and prepare them for a bright future. The Port Said Sports Club provides a variety of sports and recreational activities for residents, including football, tennis, swimming, and many other sports. The club is equipped with the latest facilities and equipment to ensure a comprehensive sports experience.
Porto Said is a hub for the latest innovations and trends in lifestyle, offering a new world and a distinguished way of life with endless possibilities. The project is committed to providing a high-end living environment that ensures the comfort and well-being of residents, while also preserving the surrounding natural environment. The green spaces have been carefully designed to be in harmony with the surrounding environment, providing a calm and refreshing atmosphere for the residents.
The Porto Said project is committed to providing an integrated living experience for the residents, and therefore a diverse range of events and activities are organized throughout the year. These events include music festivals, art exhibitions, workshops, and sporting events. These activities have been designed to suit all age groups and provide opportunities for social interaction and communication among the residents.
Porto Said has been designed to be a safe and comfortable community for the residents. The project is equipped with the latest security and monitoring systems to ensure the safety of the residents around the clock. Security and guard services are also available at all entrances and exits of the project to ensure the privacy and security of the residents.
Porto Said is committed to implementing sustainability practices in all aspects of the project. These practices include the use of sustainable building materials, the application of energy-saving techniques, and the effective management of water resources. The project aims to reduce its environmental impact and promote sustainability to preserve the environment for future generations.
The opening of the “Royal Tower” represents a new step in Porto Said’s journey to provide a luxurious and distinctive living experience for the residents.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
