Kogarah station and the St George hospital precinct
Kogarah station sits between Rockdale and Carlton stations, a short walk from St George Hospital on Gray Street. For a buyer on rostered shifts, being able to walk to both can be a large part of the appeal of the apartments near the station.
Lender policy does not change with that walk, but the valuation evidence does: a valuer looks for sales of comparable units within the same station and hospital catchment, and a rental appraisal for an investor should reflect that same position.
- Apartments are the majority of Kogarah’s homes, with established houses on the streets behind them.
- For a Kogarah buyer on hospital rosters, Links sets ANZ, Westpac, Macquarie, ING and Resimac, among other lenders, side by side on how they count penalties and overtime, as well as how they view the building.
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Apartments are the majority of Kogarah’s homes, with established houses on the streets behind them. For a unit, the file turns on internal size, the strata record and how exposed the lender already is to that building.
For a house, it turns on condition, past approvals and the valuation. Either way, the income side of a precinct worker’s file often matters as much as the property.
For a Kogarah buyer on hospital rosters, Links sets ANZ, Westpac, Macquarie, ING and Resimac, among other lenders, side by side on how they count penalties and overtime, as well as how they view the building.
Example scenario (illustrative, not a real client): a registered nurse on permanent rostered shifts at St George Hospital wants a one-bedroom unit near Kogarah station. Her current bank counts only part of her penalty income, which caps her price range, and the unit is small enough inside to rule out some lenders.
Comparing lender policies shows which options treat both the rostered income and the floor area more favourably, so she knows her real range before she makes an offer.
