Outstanding growth in Sydney's south
One suburb in Sydney has recorded above-average growth on the back of infrastructure spending and population growth.
House prices in Liverpool in the south west region have recorded price increases of 45 per cent since 2008, according to research from PRDnationwide.
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In the same period, unit prices are up by 52 per cent.
PRDnationwide research analyst Harrison Hall said the market had begun to grow in popularity since March 2014.
“Key driving forces of migration, both from inside, and outside of the country, combined with new housing stock and increased investor activity have helped this happen,” Mr Hall said.
Mr Hall suggested $8 billion worth of infrastructure would be invested into the area in coming years due to the Badgerys Creek airport project.
The largest proportion of transactions were recorded in the $650,000-plus range.
Local PRDnationwide Liverpool principal Tony Pascale said activity was taking off.
“In the 53 years I've been in the real estate business in Liverpool, I haven't seen the market move as quickly as it is now,” he said.
“In the last nine months, we have seen properties selling anywhere from $25,000 – 55,000 above the reserve price.”
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