Why you should consider these 10 Sydney suburbs for your next purchase
Property investors are always on the lookout for hotspots, and while capital cities are usually considered as safe locations for wealth creation, property markets in particular suburbs are expected to perform way better than other areas.
Sydney has always been among the top areas for people in the business of creating wealth through property because of its continuous demand for different types of dwellings, which is brought about by the city’s good economic standing.
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Starr Partner’s Douglas Driscoll shares his insights into the suburbs that will boom or will continue to boom, in 2017, in no particular order:
According to Douglas, Blacktown started to boom last year, and after more than 4,000 new homes have been approved for building it continues to be a “suburb to watch” this year.
Add that it is in close proximity to the central business district, the redevelopment of major establishments such as the Blacktown Hospital as well as the grant to start several energy projects, and you got yourself a property hotspot.
A mere 20-minute drive from the central business district, Croydon is considered by many as “one of the inner west's hidden gem”.
Douglas said: “[The suburb is] full of classic Californian bungalow homes [and it’s] fast becoming a hotspot for younger buyers after historically being an area closely held by an ageing population.”
“I would consider the suburb to be the new Erskineville, with some great local schools giving it that inclusive family vibe,” he added.
Many people have already started to realise that, considering the land sizes in Panania, they can very well add value to their properties by building duplexes.
This opportunity gives property investors a good value for their money—but hurry! The average house price of under $1 million might change soon.
While urban suburbs like Blacktown have already witnessed massive growth, the “sleeping giant” Fairfield is only about to get an “impressive facelift”.
The suburb’s city council has recently obtained funding from the federal government for the upgrade of several large transport and infrastructure projects, so watch out for the opportunities in this area!
5. Emu Plains
The best of both worlds is what Emu Plains has to offer.
While it’s still within commuting distance to the central business district, people can also enjoy the best of New South Wales as the suburb is located at the foot of the Blue Mountains.
According to Douglas: “Being the last suburb on the T1 Western Line, residents have regular trains as opposed to the hourly mountain trains. Emu Plains is also close to shopping centres such as Westfield Blacktown and Westfield Penrith.”
Gone were the days when Merrylands is overshadowed by its neighbouring suburb Parramatta because there are some exciting, multi-faceted infrastructure projects in the works to bring new life to the ageing City Centre.
The suburbs freestanding dwellings, which are considered by many as some of Sydney’s best, will be complemented by European-style eateries, trendy alleyways, and sleek and mixed-use high-rise buildings—all of which as part of a billion-dollar rejuvenation project in the area.
7. Macquarie Park
Residential projects and redevelopments, make Macquarie Park—dubbed as “one of the best commercial districts in Australia”—among the most desirable locations in Sydney, especially for people who want to live close to their jobs.
“Macquarie Park’s location speaks for itself, with only a 35-minute train to the CBD, and the convenience of motorways such as the M2,” Douglas said.
8. Bella Vista Waters
Back in the day, northwest Sydney’s “jewel in the crown” Bella Vista Waters—with its elegant homes in tree-lined avenues—was only an aspiration for many people because the average house price sat at around $2 million.
However, it has recently become more popular due to the development of the main station of the North West Rail Link, as well as the suburb’s great commercial epicentre and its close proximity to the M2 and M7 motorways.
9. Edmondson Park
First home buyers might do well to consider starting their investment journey in Edmondson Park, which is located between Campbelltown and Blacktown.
Douglas said: “[The suburb is] part of the South West Priority Growth Area [and is] on the doorstep of the upcoming Badgerys Creek airport … With more than 100 new homes being built, it will be an exciting new area in the years to come.”
“There are [also] approved plans for a new town centre to be built around the bus and rail interchange along with three new schools, shopping, entertainment and health facilities,” he added.
Quickly emerging as a new growth centre in the southwest, Liverpool is expected to become its own central business district, much like Parramatta.
In line with the opening of the new airport at Badgerys Creek, the local government is set to improve public transport and create a Liverpool central business district to accommodate the influx of new workers and travelers alike.
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