Sydney is shaping up to be a real investment property hotspot.
A range of initiatives in the heart of the city, coupled with the capital's strong dwelling price growth, makes Sydney an obvious choice for Australian property investors.
The initiatives also add to the city's eco-friendly credentials. Furthermore, new artworks are tipped for the city, which may boost the attractiveness of Sydney as a location to live in.
With stock levels dropping in July, property will be highly sought after. Those with diversified property portfolios may find their rental properties are hot in demand, as more first-time buyers turn to renting over buying.
Stock levels fall in Sydney
Stock levels of residential property have fallen 8.7 per cent year-on-year to July 2014, according to the SQM Research Stock on Market July 2014 release.
Investing in Sydney property may be easier for those with an existing portfolio, who are able to leverage their existing real estate.
"Lower stock levels do have the tendency to hint to an active market, just as the climbing stock levels experienced 2010 pointed to a slump in Australian property, and SQM Research is most certainly of the opinion that the current property market remains in favour of sellers," the release stated.
Demand for property in Sydney is clear - alongside the annual drop, residential stock levels also fell month-on-month to July (-5.9 per cent).
Sydney shows its colours
The New South Wales capital is determined to remain a top location, with the inner city gearing up for great things.
Buying a cash-flow positive dwelling that will appeal to young professionals could be a smart move, while a dual-income property is an ideal choice for investors wishing to appeal to young families.
Sydneysiders have named George Street the best route for inner-city walking, in a council survey.
"The walking counts across the city centre ranking George Street first for footfall comes as Sydney prepares for the biggest-ever transformation of the city centre with light rail connecting Randwick and Kingsford with Circular Quay," the City of Sydney stated.
The local government area continued, explaining that George Street will transform into a light rail and pedestrian boulevard between Hunter and Bathhurst streets as part of a multi-million dollar project to improve central Sydney's walking routes over the next decade.
"The City manages more than 500km of footpaths. Experience has taught us that when you create a better environment for walkers, footfall increases. This is good for our health, reduces congestion on our roads, supports local retailers, and boosts our economy," stated Lord Mayor Clover Moore.
In addition to varied transport options, the inner city is also preparing for new artworks to be installed, including a 50 metre tall cloud-shaped arch.
"You want art in public spaces that people can live around and work around. You need the contributions of artists and architects," said Art Galley of NSW Director Michael Brand, who praised the confirmed works.
Of course, there are numerous opportunities for real estate investment beyond the inner city - and even beyond the city fringe. For instance, there are strong investment options in the capital's outer suburbs, with entry points not as high as exclusive inner-city suburbs.
If you want to invest in a forward-thinking city, turn your attention to Sydney.
