Crows Nest, NSW 2065
Type of Property: Apartment
Reason of Purchase: Primary Residence
Address: Pacific Highway, Crows Nest NSW 2065
Property Journey:
The client is presently based in Singapore with objectives to acquire an investment property that would transpose to a primary residence upon return to Australia.
The area of interest was circled to the lower North Shore due its proximity to Sydney’s CBD for daily commute and cosmopolitan lifestyle hub. The client required direct access to public transport. Capital growth was the intended primary performance driver with some yield compression allowance due to primary residence conversion.
As a point of introduction to Crows Nest, the size of the suburb is approximately 1 square kilometres. The population of Crows Nest in 2006 was 3,153 people. By 2011 the population was 4,046 showing a population growth of 284% in the area during that time.
The predominant age group in Crows Nest is 25-34 years. Households in Crows Nest are primarily childless couples and are likely to be repaying over $4,000 per month on mortgage repayments.
In general, people in Crows Nest work in a Professional occupation. In 2006, 48.6% of the homes in Crows Nest were owner-occupied compared with 50.7% in 2011.
Source: RP Data, October 2014.