The East Ryde Property Market At a Glance
Image by Jordsau, CC BY-SA 3.0, via Wikimedia Commons
East Ryde is a lovely suburb nestled in the Ryde district of Sydney. It has long been a desirable area for professionals and growing families searching for balance. It offers the convenience of urban living combined with the tranquillity of suburban living, with great schools and nearby amenities.
That doesn't mean it's the easiest property market to navigate; like every suburb, it comes with its own risks and benefits, and here, we explore everything potential buyers should know about the area.
The Benefits of Buying in East Ryde
One of the keys to consider is the market growth in East Ryde, with steady growth in the last several years and a growth of 7.5% in the last 12 months. This trend is likely to continue, making East Ryde an easy choice for property investors and first-home buyers.
Beyond the market, East Ryde is a nature lover's dream. It's surrounded by Lane Cove National Park, offering lush greenery and access to handy picnicking spots, peaceful walking trails, and plenty of wildlife to spot while enjoying the serenity. This proximity to nature is a must for potential buyers looking for a slower pace of life. Many of the properties in East Ryde make up what is known as the "Dress Circle Estate". This was a development designed in the 1960s and it is known for incredible views thanks to its elevated position. In addition to the surrounding bushland, living in the Dress Circle Estate gives you a prime view of the Parramatta River and the Sydney Skyline. It simply can't be beat.
It's difficult to overlook the benefit of location because this convenient setting is only 12 kilometres outside of the Sydney CBD, making it an ideal spot for commuters and major transport links. It can be challenging to find affordable suburbs that offer this level of quiet so close to the city. With a relaxing, community-focused environment, it's a must-see for families. With several solid schools, stunning parks and reserves, and low crime rates, it's grown to become one of the most family-friendly suburbs in the area.
The Risks and Challenges Associated with Buying in East Ryde
You've seen the best, but it wouldn't be fair to discuss the many benefits of buying in East Ryde unless we also touch on the risks and challenges you may face.
The biggest risk, of course, is flooding. Certain areas are more susceptible to flooding during heavy rainfall than others, so it's important to speak to a local plumber about the property you're interested in. Firstly, choosing a local plumber is a must because they know the ins and outs of the area, including knowledge of past floods and the areas most heavily affected. Secondly, consult the flood zone map to see whether the property you're interested in falls in the danger zone.
The most common issues to properties in the East Ryde area include flood damage like dampness and mould, plumbing problems, and termite infestations. All of these can lead to major renovations and high costs, so it's important to consult a plumber and have a pre-settlement building inspection completed. While some of these issues are down to flooding, many are also the result of aging properties. With so many mid-20th century homes and poor maintenance, costly upgrades may be required.
It's a popular suburb, which means you will pay more for a property than you would if you travelled further outside the CBD. However, the median house price of $2,500,000 is a reflection of how desired East Ryde is and this may rule out many first-home buyers or an investor after a high rental yield. East Ryde has a rental yield of 2.1% and if your goal is cash flow, East Ryde isn't the market for you, it's better for long-term capital growth.
Finally, you may face strict development regulations depending on where you buy. With certain areas boasting heritage-listed homes and others in flood zones, there may be restrictions on how much you can develop, renovate, or rebuild a property.
Is East Ryde Right For You?
East Ryde is a sensational suburb, with community-focused residents and stunning nature scenes in the surrounds, it's difficult to overlook this family-friendly spot. With its proximity to the CBD, it makes the morning commute a much more appealing prospect to city workers. However, it's important to weigh the risks and the benefits and consider whether you have the budget to take care of the ongoing maintenance and renovation costs.
You can set your mind at ease by working with a local plumber and a ruthless building and pest inspector and getting to know the area yourself. The more you familiarise yourself with the flood zones and the most expensive neighbourhoods, the more focused your property search can become in finding the perfect house.
Once you narrow your search, you can consult council regulations to find out your options for renovations or extensions to get a full view of your options moving forward. It isn't enough to just find the perfect property, you have to future-proof your investment!