Industry sets expectations for Albanese government
Now that the 2022 federal election has been decided, the industry is watching keenly to see how Labor’s housing promis...
Sydney's South-West is the beneficiary of major government spend and redevelopment, and some of its suburbs have seen double-digit growth in recent years as a result.
South-West Sydney is one of the NSW government’s top investment priorities. Reforming the region’s transport, roads, hospitals and schools is core to the government’s ultimate ‘Greater Sydney Region’ plan, which aims to create a Sydney were most residents can live within 30 minutes of their workplace, education and essential services.
The NSW government’s spend so far, and its investment pipeline, is having a significant impact on values of houses and apartments in the South-West Sydney region.
A suburb report, produced by Smart Property Investment in partnership with Coronation, reveals some of the top-performing suburbs to October 2018.
Macquarie Fields, which is 38km south-west of the Sydney CBD, has experienced major growth in the last five years. In 2013, house prices averaged $355,000, and they are now at $638,000.
Unit prices in Macquarie Fields have experienced similar growth, now sitting at an average value of $480,000 versus $280,000 in 2013.
Glenfield, which is 36km south-west of the Sydney CBD, has experienced a similar growth trajectory. The average house price in 2013 was $465,00, and is now $761,000. Unit prices came in at $303,000 in 2013, and they now average $509,000.
Suburbs even further south-west of the CBD, like, have still experienced notable growth. The average house price in Campbelltown in 2013 was $369,000, and it is now $640,000. Units in 2013 averaged $343,000, and they are now an average of $475,000.