Future infrastructure projects in South West Sydney is driving new investor demand in the region, according to two property experts.
Michelle Nash, executive property manager at Professionals Narrellan, said projects such as the Aerotropolis, Western Sydney International Airport, Camden Medical Campus and Sydney Science Park are being touted as the reason why more investors are looking to grab a slice of the property pie in the city’s south.
Add on to this the “growing Greenfield suburbs”, such as Gledswood Hills, Oran Park, Gregory Hills and Leppington, which are all within a 10 to 20 kilometre radius of the infrastructure hotspots and already benefiting from such infrastructure, Ms Nash said South West Sydney is set to become a prime region for property investment.
“Expected job creation will further drive demand for homes in the region. Market prices and rental vacancies are already very low when compared to like product in the North West growth areas," Ms Nash said.
“Gledswood Hills, for example, has a relatively low percentage of rental properties due to a high uptake of owner-occupiers. This is an alluring proposition for savvy tenants and in turn makes the area an enticing option for investors.”
Craig Barnes, sales and marketing manager at Sekisui House, offered a similar sentiment, saying: “The South West is igniting Sydney’s future growth.”
“Investment dollars being poured into the region solidifies its future growth, particularly in suburbs located within close proximity to key infrastructure hotspots,” he added.
“It is anticipated that much of Sydney’s growth activity within the next 10 years will be concentrated in the Western Sydney region, particularly greenfield developments with land availability. They are fast becoming destinations of choice for Sydney home buyers.
“A broad range of affordable investment opportunities currently offer investors an attractive buying proposition within these developing suburbs prior to them becoming established. Lifestyle opportunities, future growth and connectivity makes suburbs such as Gledswood Hills an appealing investment proposition.”