What makes St Leonards a smart place to invest?

When you think of the lower north shore, the suburbs of Mosman and Neutral Bay probably spring to mind first. However, neighbouring Crows Nest and St Leonards are often overlooked and these locations have a lot of appeal.

Here’s why we love St Leonards as a suburb to invest in:

St Leonards has everything

Train station? Check.
Hospitals and healthcare centres? Check.
Gyms and sports grounds close by… restaurants, pubs and clubs are all there, within walking distance of almost every home in the suburb.

St Leonards may feel like a suburb you only ever pass through but it has a great deal to offer. Crows Nest up the road is a popular and appealing shopping strip while the train station gives fast and easy access to the larger malls at Chatswood and the CBD.

There is even a Coles Express at the train station so commuters can pick up a snack on the way to work or dinner on the way home.

As one reviewer on Homely explained, St Leonards offers “convenience at your doorstep.” Others remark about how the suburb feels safe to walk around at night and the fact you can be in the city within 15-20 minutes.

Hospital hotspot

Royal North Shore and North Shore Private hospital are just off the Pacific Highway and the Mater Hospital is down the road in Crows Nest.

As an investor, this means you will easily be able to find tenants; health care workers like to live conveniently close to work, particularly shift workers.

Another drawcard is the local Bradford Senior College, a co-educational specialist senior secondary and vocational day school specialising in the creative industries.

St Leonards is a business hub

Many Sydney businesses have their headquarters in St Leonards, including SBS and Mastercard. Young professionals who want to live close to work as well as the nightlife of Sydney choose St Leonards as it can be a more cost-effective option than suburbs close to the ocean, while still giving them easy access to places like Balmoral Beach and the Pacific Highway towards the central coast.

Cost effective investment opportunity in Sydney

St Leonards mostly offers apartment living, with some older apartment blocks and recently completed luxury apartments. Over the last year, reports put average prices at $736k for a one bedder, which offers a good entry point into the market for beginner investors. Meanwhile, the average for a two-bedroom unit is $1.32 million.

Units with higher values are more recently completed and offer sweeping views towards the harbour or upper north shore. More competitively priced apartments are compact while offering the practicality of being close to everything.

Rental demand and great returns for investors

According to Real Estate Investar, St Leonards has a population of 5,494 people and 53.56% of its occupants live in rental accommodation.

The value of units in the area have settled somewhat over the last year, meaning it’s a good time to get in as an investor before they go up again. Meanwhile, the average rent in the area is $785 per week and has shot up by 12.9% in the last twelve months, showing how much demand there is for quality rental properties in the area.

Realestate.com.au reports there are over 2000 interested tenants for an average 169 properties available for lease. The median time on market for a vacant apartment is 22 days.

Future infrastructure

St Leonards is always a hive of activity and there is new infrastructure in the works to support the growing community. A comprehensive land use and infrastructure package for St Leonards and Crows Nest has recently been released to guide future development and infrastructure decisions in the area until the year 2036. This plan leverages existing public transport infrastructure and the future Crows Nest Metro Station, and will provide new infrastructure, open spaces, upgraded cycle lanes and more.

Thinking of investing in St Leonards?

Being so close to the business hubs of Chatswood, North Sydney and the Sydney CBD as well as a stone’s throw from the restaurants and shops at Crows Nest, Cremorne and Neutral Bay makes St Leonards a savvy investment. This timeless location is set to get better and will always be in demand from tenants and first time buyers.

Looking for the perfect investment in this area? Reach out to HPA today. As area specialists, we are always happy to chat to buyers, sellers and anyone in need of an experienced and reliable property manager.