Home Valuation – Sydney
Home valuations are influenced by a number of factors. One of the largest being the employment opportunities that the location provides residents. Houses in towns and cities where there are no jobs sell for significantly less than houses in cities like Sydney where the tourism, culture, and recreational opportunities alone create lots of opportunities for employment and growth.
Being home to over 4 million people, the city has been designed to welcome more, and more residents through its variety of real estate options, excellent public transit, and it’s dedication to making sure that there are jobs created for residents in need. Because of how many tourists travel through Sydney every year, tourism is one of the largest industries. From hotels, to event management, restaurants, catering, tour guides, and so on tourism brings thousands of jobs to the city. With locations such as the Royal Botanic Gardens, the Sydney Opera House, Sydney Harbour drawing in thousands of tourists on a regular basis, it is not wonder that tourism has become such a part of the city.
Over time it has become clear that cities that do not have tourism of this magnitude, and iconic landmarks such as these end up having to make up the jobs elsewhere for citizens. This is where things get difficult for some cities, as not all locations have other industries to fall back on. Not having jobs and employment opportunities like this in your area will greatly impact your home valuation.
When looking at cultural opportunities for employment, the city of Sydney offers a lot of opportunities. From working at Museums, Sporting Events, Concerts, Shows, Libraries, there are so many opportunities for residents to take advantage of throughout the city. It is because of all of these opportunities, that cultural administration is one of the more popular industries throughout the city. Home valuations done on homes in areas without the cultural events, or landmarks often end up having a somewhat lower result, while a lot of this is because of the employment opportunities that cultural events and locations bring, it is also because of the educational opportunities for internships, and volunteering as well.
In terms of education, the city of Sydney is home to 6 primary University Campuses, as well as 4 secondary campuses. This is an amazing thing from employment in Sydney and also an amazing thing for home valuations being done in the area. These schools not only offer residents amazing educational opportunities, but they also offer opportunities for employment as well. Having so many campuses right in the city means that students can consider living at home while attending school and saving money, while still gaining a wonderful education. This is another factor that greatly benefits the outcome of home valuations in this area. Living in a city that has these opportunities, and has so many well educated residents is considered to be extremely appealing, both for professionals moving there, but also families.
These opportunities, often work in a cycle, being able to attend a great school (and save money) while experiencing cultural events and shows leads to more education and a better paying job, and it is these jobs that create the opportunities for the next generation. Many home valuations are done online, and therefore can only take so much information into consideration. The state of the economy and the opportunities that a city offers are two of those factors. Home valuations for houses in more rural areas that do not have these employment rates, are noticeably lower, while there are trade offs to living further out, often the size of lot that you are able to purchase, the opportunities and amenities that you miss out on can be difficult for some people to take. Especially those looking to establish themselves in their careers.