Located in Sydney’s lower North Shore between North Sydney and Chatswood is St Leonards, identified as an investor hotspot with a high rental population of 67%. Market analysis indicates future growth for St Leonards in population, employment and transport facilities as well as continued leading education, public amenities and world-class health facilities.
Population and Demographics of St Leonards
The population of St Leonards is forecast to increase by 3.24% compared to greater Sydney’s population growth of 1.86%. This aligns with the expected completion of new high density residential developments and employment growth.
More than 50% of St Leonards residents are educated professionals with 32% earning over $90,000pa.
St Leonards is a multicultural suburb with approximately 53% of residents born overseas. 26% of residents are from China and Hong Kong.
Residential Market in St Leonards
St Leonards is prominently a medium to high density suburb, with apartments making up 95% of residences. 50% of occupants live in 1-bedroom units with an estimate weekly rent of $650-$700.
However, according to realestate.com.au St Leonards has a high demand for 3-bedroom units, recording 563 searches per month followed by 2-bedroom apartment recording 332 searches per month and 1-bedrooms receiving 266 searches respectively.
Employment in St Leonards
The St Leonards commercial area is expected to provide upwards of 2,800 jobs by 2025. It also provides easy access to 12,000 workers traveling from Sydney CBD, 17,000 from North Sydney CBD and 18,000 from Chatswood.
Infrastructure upgrades in St Leonards
$46 Million has been invested into St Leonards transport interchange that will provide improved amenities to businesses and residents in the local area by 2022.
By 2024, $8.3 Billion would have been invested into the Metro Rail. The station provides new metro rail access to St Leonards residential area and serves people within walking and cycling distance. It improves travel to local schools and businesses.
Royal North Shore Hospital’s investment is approaching $1.3 billion in new clinical facilities, the ability to double the clinical services space and a plan to get much-needed support services on site, RNSH is well placed to provide world-class health and research facilities long into the future.