Australians are becoming wealthier – and it’s thanks to property
Wealth per capita is now sitting at a record high of $522,032, thanks to record-high property prices. ...
Fifteen years ago, buying in an area like Parramatta or Surry Hills was seen as an unwise investment; they were areas that have seen crime, poverty and underdevelopment throughout the years. However today they have seen a revitalisation and are drawing in new investors daily. So the question every investor is asking is: where is the next Parramatta?
Blogger: Sam Elbanna, CPM Realty
The answer lies in Sydney’s south-west, in a vibrant and growing major centre of culture and industry - Liverpool. Despite the misguided view that the area may not represent the option for a property investment, Liverpool is set to have a huge influence on the property market as the area expands and develops.
Liverpool is economically based on manufacturing but has a booming medical industry with the largest hospital in NSW, as well as a thriving student community which is driving population growth and a change in demographics of the area. In 2012, the NSW Treasury identified Liverpool as one of eight growth areas, with 100,000 new dwellings earmarked for development.
Most people don’t realise that Liverpool is only 25km from the Sydney CBD and with the upgrades to the M5 and M7 motorways, the Hume Highway and a rapidly expanding infrastructure, getting in and out of the area has never been easier. Public transport is also exceptional, with three new train platforms set to open.
The property market is wide open for investors, with roughly 51% of residents renting. Most sectors of the property market have increased in price by 20% or more over the past three years. And with the development of the very first luxury apartment complex for the area set for completion in 2015, Liverpool is finally receiving the luxury treatment that has been missing for so many years.
With the changing demographics in the area and a demand for higher quality residences, there is no better time to look at investing out west. The prices are low and there are some major infrastructural and industrial developments in the works, positing Liverpool as the investment hotspot. In 15 years, investors will be looking back and thinking ‘what is the next Liverpool?’
About Sam Elbanna
Sam Elbanna is the founder and managing director of CPM Realty and is regarded in the industry as one of Sydney’s leading project marketers.
With 18 years of experience in property development around Sydney, he has a keen understanding of property markets, developments and investing in Sydney. He has been instrumental in the sales of a number of development sites ranging from small suburban residential development sites in the suburbs, to larger multi-storey office buildings and development sites in and around the Sydney central business district.