Sydney

Document Sample
Sydney Powered By Docstoc
					               Tell me about the Neighbourhood………

                                         Sydney
Sydney is the largest and oldest city in Australia and capital of New
South Wales. Situated on what is considered to be one of the world's
most beautiful natural harbours, Sydney is a vibrant, multi-faceted,
cosmopolitan city that offers more entertainment, shopping and
sightseeing than any other place in Australia.

With a population of over 4 million, Sydney is among the top
locations in the world for quality of life and is consistently rated the
world's best city. It is a major industrial, business and commercial
centre, and is endlessly fascinating in its variety and beauty.

Sydney is a major tourist destination throughout the year and population growth is strong and increasing;
over the last year, the population of NSW grew by 72,923 (RP Data). It is one of the most multicultural
cities in the world which reflects its role as a major destination for immigrants to Australia.

                                                  Sydney is experiencing a major housing shortage with the
                                                  influx of immigrants, and this is having a dramatic effect on
                                                  the rental market which has observed a 24% increase in
                                                  rental returns in the past 12 months. The entire city is
                                                  experiencing record low vacancy rates of 0.9% in the
                                                  metropolitan area and 0.3% within 10km of the central
                                                  business district.




Green Square
The suburb of Green Square is in the process of rejuvenation with a vision of providing an attractive
location of high density dwellings close to the central business district. The redevelopment of the town
centre is currently underway with the demolition of the former Waterloo Incinerator and plans to create a
civic square bordered with supermarket and shops.

The new town centre will service a number of apartment developments that have sprung up around the
Green Square railway station. When completed, the Green Square town centre project will provide 2500
homes located close to existing transport infrastructure and $3.2 billion worth of investment.

The Town Centre will help accommodate Sydney’s growing population. Over the next three decades,
Sydney will need an extra 640,000 homes to cater for its population growth. The majority of those will be
created by redeveloping existing areas, placing Green Square in a strong position to benefit from
Sydney’s growing population.

There is evidence to suggest that the new residents of Green Square are likely to be young, white-collar
couples and singles. These household typically have high incomes and are seeking appropriate retail
and leisure facilities as part of their cosmopolitan lifestyle.
Property Market
Australia's largest city remains the destination of choice for the 146,000 or so migrants taken in each
year. It is estimated that Sydney needs to cater for an extra 1.12 million people in the next 25 years. It is
inevitable that we will see numerous high rise apartments sprout up in established suburbs along the train
lines and bus routes.

Sydney's median house price has been stuck in a relatively narrow band above half-a-million dollars since
mid-2003. That is in stark contrast to the four years before that, when the city's median price surged from
$294,000 to $514,000. The Sydney median sale price was $ 542,488 for houses and $ 366,622 for
apartments as at July 2008 (APM).

After a period of minimal growth the Sydney property market is
showing signs of moving forward. Although the property market in
Sydney remains the nation’s most expensive housing market prices
still remain below their 2003 affordability peak in many locations.
This represents an opportunity for investors to buy strategically in the
Sydney suburbs within 10 to 12km of the CBD, those near water and
those that have scarcity value.

With other cities experiencing property booms, Sydney apartments are now beginning to look affordable
(Melbourne, Perth and Brisbane apartments are within 15% of Sydney values). Many analysts are now
picking the Sydney apartment market to be the number one pick for growth over the next few years.
Investors are becoming very active, bolstered by the prospect of capital growth in the market together
with low vacancy rates and improving rental yields.


Economy
The Australian economy was ranked first in the world for resilience in 2006, for the fifth consecutive year.
Australia was judged in the top 10 most attractive investment destinations globally in 2005.

Sydney serves as the country's centre for retail and wholesale trade, as well as public administration and
finance. It has a strong industrial tradition, with shipyards, oil refineries, textile mills, brass foundries, and
automobile, electronics, and chemical plants.

                             Sydney is the largest corporate and financial centre in Australia and is also an
                             important financial centre in the Asia Pacific. The Australian Stock Exchange
                             and the Reserve Bank of Australia are located in Sydney, as are the
                             headquarters of 90 banks and more than half of Australia's top companies,
                             and the regional headquarters for around 500 multinational corporations.
                             Sydney is home to 65% of Australia's Asia Pacific regional headquarters and
                             45% cent of its largest companies by revenue.

                             Growth in Asia has increased the city's importance as a financial centre,
                             helping its establishment as a key link between East and West. Sydney
                             provides approximately 25% of the country's total GDP.
Climate
Sydney has an oceanic climate with warm summers and mild winters, with rainfall spread throughout the
year. The weather is moderated by proximity to the ocean, and more extreme temperatures are recorded
in the inland western suburbs.

In summer, the temperature can reach the high 30s on a hot day,
                                      C
and will occasionally drop down to 17° at night, but the summer
temperatures are more typically somewhere in the twenties. In
                                           C,
winter, the temperature can go as low as 5° and will often reach a
high of 18°C. The temperature, in other words, is generally mild.

Sydney’s rainfall averages 1200 mm per year. More than one third of
this falls between March and May. The number of wet days each
month averages twelve.




Transport
Most Sydney residents travel by car through the system of roads, freeways and tollways (known as
motorways). Sydney has a large and well run Government public transport system serving extensive
train, bus and ferry networks.

                                   The Kingsford Smith Airport is the main international and domestic
                                   airport. It is about 10 kilometres (6 miles) south-west of the Central
                                   Business District and Sydney Harbour.




Visitors Attractions
Given Sydneysiders' love of water sports, it should come as no surprise
that there are more than 100 public swimming pools in Sydney. Sydney is
also spoilt for choice with beautiful beaches littering the coastline.

The best way to see Sydney Harbour is by getting out on the water with a
selection of sailing, canoeing, and windsurfing opportunities.

                           Surfing is a favourite past time of Sydneysiders
                           and weekends will see most of the popular
                           beach besieged with surfers.

                           Bush walking is also a very popular activity in Sydney and there are plenty of
                           coastal walks in the Royal National, Ku-ring-gai Chase and Sydney Harbour
                           national parks.

                           In addition Sydney has an abundance of landmark scenery, such as the
                           Opera House and Harbour Bridge, and has many historic features to visit.
Helpful links
Please click on the below links for more information on Sydney & Green Square

www.cityofsydney.nsw.gov.au

www.gstc.com.au

www.sydneyaustralia.com

www.sydney.com.au

				
DOCUMENT INFO