Discover Eastwood’s Diversity and Potential
Eastwood traces its colonial history back to 1792, today it’s a diverse and very popular suburb with lots of open bushlands, an appealing ethnic culture, varied history and great Asian cuisines. It’s a suburb that’s well worth considering as a great place to live or invest and you’d be hard pressed to find a more central location.
Eastwood is surrounded by every conceivable facility with great transport, the holy grail of many home-buyers, among its many attributes. Eastwood’s popularity took off around 2015 and it remains a tightly held market and new projects like Highgardens, are in limited supply.
An entire mix of ingredients have contributed to Eastwood’s appeal which, any of the communities 17,900 lucky residents would endorse, so let’s look at some notable demographic facts about the area.
According to the last census in 2016, particular features of the demographics include; there’s a high proportion of married couples with no kids, there’s an average age of 36, many are university educated (well above the NSW average), the housing market is mixed mainly traditional detached homes, but also with 24% apartments and the biggest employment group is professionals with higher than average incomes.
Part of Eastwood’s appeal is that 38% of the population are of Chinese origin, with Australia being the main country of birth and with both parents originally born overseas.
Alongside Australian and English ancestry there’s also a diversity of Korean, Taiwanese and Japanese which is a wonderful juxtapose in an area where the Granny Smith Apple was first grown and today’s street food is one visible sign reflecting this mix.
This interesting mix of cultures is a big influence and each year during The Granny Smith Festival, now regarded as one of Sydney’s largest street festivals, 90,000 visitors are attracted to sample what these varied cultures offer.
Apart from Granny Smith Apples, Eastwood’s evolution and popularity has also been greatly influenced by its location mid-way between Sydney and Parramatta, plus a few other interesting facts. Gregory Blaxland, one of the explorer trio of Blaxland, Wentworth and Lawson who helped to open up the interior of NSW has a long association here.
Eastwood’s also has a close association with the Parramatta River, Australia’s colonial wine industry and local silk production. While the brickworks produced many of the bricks for Sydney post Sydney’s Second World War housing boom. The extension of rail services to the area in 1886 and the diversity of the local community since the 1990’s, these varied factors have all contributed to Eastwood’s long-running and growing appeal.
Which brings us to today and a quick look at why this area has almost the perfect combination of culture, location, facilities and potential.
In every direction access is outstanding, being just 4 kms from Top Ryde, 5 kms from Macquarie Park, 10 kms from Parramatta CBD and a little over 18 kms from Sydney CBD.
The surrounding road network includes the M2, Victoria Road and Lane Cove Road, while rail connects are outstanding with three station Eastwood, Denistone and Epping. Schools are well-established and cover a spectrum from local public schools and private schools including The King’s School and higher education centred on the innovation driven Macquarie University.
There’s also no shortage of retail facilities from the local Eastwood Centre and nearby high streets, to Macquarie Shopping Centre, Top Ryde and Rhodes.
The area also has lots of open space focused on a total of thirteen local parks and the nearby Lane Cove National Park, Denistone Park and Bush Farm Park. Bush Farm was built by Gregory Blaxland and became a free access public recreational area in 1914 and remains popular today.
Gaining a foothold in the area looks an appealing idea and one project enabling this is Highgardens, a development by the respected Winten Property Group and Lyon Group Australia.
The project contains a mix of 1, 2 and 3-bedroom apartments built over 10 levels with a roof-top garden that has city views, three levels of parking and a retail mix on the ground floor.
Highgardens is primed for bus and rail transport and has the advantage of being an easy walk to local schools, there are 5 in the suburb and shopping at the upgraded Eastwood Shopping Centre.
Prices start at $713,000 for 1-bedroom apartments, $745,000 for 1-bedroom plus study and $920,000 for 2-bedroom apartments which, by comparison to other areas, including nearby Epping are competitive prices.
However, for a limited time, in this prime location, it’s possible to secure on any apartment purchase a valuable incentive which include a 5% deposit and free window furnishings package.
Highgardens will position buyers right at the heart of Eastwood’s village-atmosphere and the connectivity of the neighbourhood can be easily appreciated. The suburbs historic levels of capital growth and low rental vacancy rates gain further ticks when considering this opportunity.
Summing up, Eastwood and Highgardens is an easy task, this suburb has great appeal and a daily lifestyle rhythm that’s hard to beat and instantly tempting to singles, couples and families, a rare combination that’s all tucked into one very connected and compact area.