Sydney is famous across the world for being one of the most desirable cities to live in, its filled with tourist attractions such as the Opera House, Harbour Bridge, spectacular coastines and mountain ranges. For Aussie residents, the city’s a popular location for buying a home, because despite dealing with all the common challenges of a large city (over development, transport, rising house prices etc) it’s just so great to live in.
…for those looking to invest in a new home there are still plenty of opportunities to be found – if you know where to look.
Over the last year, the residential property market has taken a blow, with the third quarter of 2018 showing an overall average drop of 6.5% in house prices. It’s the lowest dip in over two decades, but not all areas have been equally impacted. Sydney still has plenty of suburbs that have weathered the storm, and for those looking to invest in a new home there are still plenty of opportunities to be found – if you know where to look.
Where Should I Be Looking?
Market growth has varied from point-level, with slight increases to the double-digits. Emerging suburbs on the south-western end of Sydney are turning out to be the ones to watch out for. This is largely due to the property in these areas being affordable and appealing to first-time home buyers. In terms of suburbs that have experienced impressive market growth exceeding the average, Glenwood Hills, Leppington and Marsden Park are among the areas that the Kaplan Homes team have been building in. Here’s what you need to know about investing in each of them.
Gledswood Hills
A suburb rich in heritage and diverse in nature, it’s no surprise that people are flocking to live in this scenic area. The average home is priced at $850 000, which represents an increase of 7.6% in the last year.
Leppington
Rapid growth and convenient access to rail and road transport systems leading to the CBD make this area an attractive one. It showed a growth rate of 7.5% in 2018, with the average home going for about $790 000.
Marsden Park
Located less than an hour outside the city centre, this suburb is the perfect blend of peaceful isolation and access to urban living. The average home around here costs about $827 000 – a whopping 15% increase from last year.
Looking to take the plunge into the Sydney property, market ? Contact one of our friendly consultants at Kaplan Homes today. Call 02 4647 6688 or send a quick message and we’ll get back to you.
