New South Wales is Australia’s premier state, having the balance of world-renowned beaches, the beautiful and colorful seaside towns, the ever vibrant city lights, and the farmer-friendly lands all inside its entirety. These factors alone are enough for an investor to have a look at its real estate market, but what makes the NSW real estate market flourish today more than ever?
NSW Real Estate Market: Why New South Wales
With an area of 800,000 square kilometers, NSW is home to approximately 2.9 million people, and has contributed roughly more than AUD $138 Billion to the country’s GSP. Both the city life and the scenic, agricultural aspect of the state have enticed people to invest now as it continues to work like a well-oiled machine.
Sydney represents the country’s participation in the international market as a global city. It is a hub of diversified and ever evolving potential that continues to churn out favorable numbers, and makes the NSW a regional powerhouse. Its houses 600 multinational companies, and 60% of the country’s communications technology and regional information, among other knowledge-based businesses. The government’s support towards the city’s future plans are reflected in its high concentration of investment. This is why Sydney is part of the list of Top Real Estate Locations for Chinese Investors. However, this also makes it an expensive location to invest in.
Outside Sydney lies another world, seemingly the opposite of the city’s bright lights and sights. Inland NSW features the pastoral countryside and the small towns alongside it, where farming, livestock, and agriculture is concentrated. The state is responsible for a large portion of the country’s meat and vegetable supply, making it the most important in the whole country.
Aside from agriculture, the scenic landscapes of the great outdoors are also key factors in the market. The great outback, the arid desert, the winter sports, and the spectacular beaches drive tourists to visit the state and buyers to consider its potential.
Buying a house in NSW is a win-win situation. You can enjoy the property and have a taste of the lifestyle the place brings, or use it as an investment that will grow right before your eyes. If you are wondering when the right time is to join the NWS real estate market, that time is now.
Top Suburbs for NSW Real Estate Market
Other Regions in Australia
Other locations in Australia are equally as desirable as New South Wales. Choose a region below to find out the best locations in the area. If you need information on the real estate buying process for foreigners in Australia, check our Foreign Investor's Guide.
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