A suburb in the spotlight: Petersham Property

A bit about Petersham

Petersham, NSW, 2049 is located 6 km or a 1-hour 30-minute walk to the Sydney, CBD. Located in the inner Western Suburbs, Petersham is approximately 1.3 square kilometres in size and covers 2 parks.

Noted for its schools in the area, including Foret Stree High school and Petersham Public School. There is a small row of shops along New Canterbury Road and down Audley Street which includes a variety of food options, from cafes, bars and restaurants.

This suburb has appeal to young professionals and families, due to the easy access to the city via the train line, larger blocks of land and parks and green space.

The population of Petersham has grown by an average of 7.8% over a 5 year period (from 2011 to 2016). Households are professional couples aged 30-39 and young families or couples without children.

Petersham median house prices

The majority of the area is made up of owner-occupied couples, with the median sales price for a house is $1,500,000 and units over $760,000.

Petersham housing stock is tightly held. Typically with low stock turnover. Which makes houses and large apartments, highly sought after for young couples and investors.

Recently we have seen vendor discounting tighten up.

The majority of the local property for sale is 3 and 4 bedroom terraces. Appealing to couple looking for additional space, and young families.

Current housing stock

Investment property yields

In regards to rental yields, there has been downward pressure on gross yields for house and unit stock. This is a result of an increase in rental stock and tenants in a position to renegotiate their rental agreements.

Getting a mortgage to live in Petersham

If you are a first home buyer, young family, or upgrading your family home from an apartment to a house with a block of land, then Petersham maybe home. How you structure this move, you need to discuss your options available, with a hfinance mortgage broker, to help make this transition happen.

Getting a mortgage to invest in Petersham

If you are seeking an investment loan, to purchase a property in Petersham. It is important to understand the capital gain growth and the gross rental yield on the purchase.

Lenders have tightened their credit policy around investment lending and it is important to sit down with a hfinance mortgage broker, to discuss your financial goals and map out your financial future. Especially if you are looking to purchase an investment property and later do a renovation to add equity and future value.

Jeremy Harper is the director of hfinance. hfinance is a mortgage brokering business. To speak with a Sydney Mortgage Broker. Contact by calling us on 1300 928 227 or email info@hfinance.com.au. You can also read about other suburbs, like Surry Hills.