Most popular Sydney, NSW suburbs for first-home buyers

First-home buyers have a ‘type’ when it comes to zeroing in on their property but they may need to re-think their approach to find what suits them best.

As many of 90 per cent of Nathan Chapman’s sales in Warrimoo, Faulconbridge and surrounding Blue Mountains suburbs such as Springwood, Glenbrook, Blaxland, Valley Heights and Winmalee are sold to first-home buyers.

Mr Chapman, a sales agent with Lister Estate Agents – Springwood, is a local who moved away and boomeranged back which gives him a great perspective on what younger people who are considering moving to the area, really want.

“It’s a lot to do with pricing and affordability, but there’s a lifestyle element as well, Mr Chapman said.

345 Great Western Highway, Warrimoo, NSW, is right in many first-home buyers’ sweet spot.

“Young couples are wanting to move out of their apartment on the northern beaches or the eastern suburbs and get more bang for their buck.

“They want a substantial home.”

A three-bedroom Warrimoo home on the Great Western Highway “oozing cottage charm and rustic features” – with a price guide of $765,000 – $800,000 – Mr Chapman currently has for sale is smack back in the middle of the sweet spot for prospective first home buyers.

Both Warrimoo (1st) and Faulconbridge (13th) sit on realestate.com.au’s top 20 list of the most popular suburbs for first-home buyers.

“When the vendors come to list their properties I can tell them pretty much exactly who will be looking to buy it, first home buyers, and exactly what they are looking for – old world charm, the Blue Mountains feel and a bushy backdrop,” he said.

“For a while now the first home buyers coming from the city have out-competed the locals up here, but it is starting to even out a bit.”

Mr Chapman said he hasn’t witnessed any buyers’ regret.

“It’s a great community and great for young families,” he said.

“It’s got most of the amenities you get in the city, good schools and the train line has been upgraded.

“No one I have sold to has wanted to move on.”

However Luke Sommen, senior sales executive at Ray White Park Coast East warns first-home buyers against zeroing in on only on locations considerable affordable or purchasing in an area they aren’t at all familiar with.

6/481 Old South Head Rd, Rose Bay, NSW, could be a great purchase for a first-home buyer.

He said rookie buyers should look far and wide to find the right home for them.

He points to a studio he has in Rose Bay in Sydney’s eastern suburbs (median unit price $1,450m) for sale for $489,000.

“In the current market there are some great opportunities for first-home buyers to purchase studios and one bedroom apartments that offer all the benefits of living in the east and inner city,” he said.

“While gaining a foothold in a market that has delivered the greatest historical capital growth and returns in the Australian real estate sector.”

Originally published as Most popular Sydney, NSW suburbs for first-home buyers