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Property
Published in Western Sydney Business Access | Parramatta Times | Blacktown News | www.westernpropertyguide.com.au
North Parramatt a Units popular… As region experiences massive growth
OUTLOOK | DALLAS SHERRINGHAM
NORTH Parramatta units are still a popular choice amongst real estate investors in 2021 according to a survey of the top 50 postcodes in NSW.
Th e suburb came in 36th in the top 50 ranked areas with investment unit values in the 2151 postcode growing by 72.2% during the past decade. A total of 135 investment units have sold in 2021.
Th e 2151 postcode stretches from the Parramatt a River through Northmead all the way to North Rocks Shopping Centre.
Nearby Blacktown local government area was rated the best region for investors buying houses and units in the Greater Sydney Region.
Th e survey by a leading real estate internet sales site placed the houses in the Blacktown LGA top of the tree in a study of the 50 most popular investment property regions.
In 2021, a total of 482 investment houses have sold in the 2148 postcode representing a 10-year growth rate in median house prices of 109%.
Th e rental yield was 2.9% this year and the rental demand annual growth averaged 3.3% over the 10 year period.
Th e Kellyville region covering the 2158 postcode was fourth on the list with 413 investment houses purchased, representing an annual growth rate over the 10-year period of 111.4%.
Penrith and Liverpool were close behind placing sixth and seventh in the number of sales.
In Penrith, units were the most popular type of investor property with 333 sold this year, representing a growth rate of 94.3%.
Liverpool units were the most popular investment properties in the 2170 postcode area with a 65% increase over the period and 302 sales this year.
Blacktown units also featured in the top 10 list of suburbs att racting investors with 250 sales in 2021, a 10 year increase of 79.5%.
Continued on page 13
”We’ve never had a year quite ve never year quite like this one.” his one.” - John McGrath. McGrath.
John McGrath.
HOW TO WIN THE WEST HOW TO WIN THE WEST
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POLITICS Why new State leadership is good for the West: 2 MANUFACTURING Local firm’s game changing deal with ASIA: 46
COVID LESSONS
“KEEP saying that the risk of getting a side effect to AstraZeneca is one person sitting in a full SCG, and the risk of dying from it is one in a million - the equivalent to a lightning strike.” Vivid stats voiced by infectious disease expert Professor Tony Cunningham as he took part in a Regional Roundtable webinar of internationally renowned experts held recently by a collaboration of Access News Australia and The Westmead Institute for Medical Research. The panel, who hail from a range of disciplines, spoke about their take on the lessons learned from COVID, and their prognosis of future trends in a post-pandemic world. See pages 4,5.
ISSUE 15 | OCTOBER 2021 TRUSTED LOCAL NEWS WWW.PARRAMATTATIMES.COM.AU
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What it might look like to have flying cars over Parramatta CBD.
INSIDE
CARS OVER CBD
CAN you imagine cars flying above the Parramatta CBD? Parramatta Chamber of
Commerce president Luke Magee can certainly see it as a possibility after the Parramatta Times discussed a report from University of NSW suggesting the concept was not far away. “I hope it can be something we can look forward to in the future. It would be good for Parramatta, with its lack of parking,” Mr Magee said. “These flying cars could work like the proposed driverless cars where you park them
outside the city and they come to pick you up." More page 2.
Key to business relationships: 7
Bankwest becomes CommBank Stadium: 13
COMING SOON
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PROJECT$ PROJECT$
Cash boost for local precincts
From top left clockwise: Grange Avenue, Loftus St and Glengarrie Rd - all projects for possible development under the AIF program. HIGH growth greenfield precincts in Blacktown will bene-
fit from a share of $139M being handed out by the State Govt this year. The cash is up for grabs for eight Western Sydney councils as applications have opened for round
two of the Accelerated Infrastructure Funding (AIF). More page 4.
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Riverstone 239 house sales, Harrington Park 235, Cranebrook 225 and St Clair 231 were all in the top 15 and rose in value between 101% and 105% over the decade.
Leading real estate agent John McGrath said:” We’ve never had a year quite like this one’.
“Investor activity has been increasing every month since the start of 2021, while fi rst home buying began declining in February and continued to do so for three consecutive months,” Mr McGrath said in the Real Estate Conversation.
This is great news
“In January, investor loans represented 23% of the total loans market - a record low. Th ey have since gone up to 28%. Th is is below the long-term average since 2002 of 36%.
“Conversely, fi rst home buyer loans in January represented 25% of the market and this has now gone down to 21%. Th is is still above the long-term average of 16%, so activity might be dropping off a bit but it still remains high.
“Th is is great news for sellers of sub$1.5m houses and units. Any lost demand from fi rst home buyers is being more than off set by new activity from investors and this will keep prices growing for now.”
Mr McGrath said this was important because the unit market was most at risk of feeling the eff ects of negative population growth if demand from local fi rst home buyers and investors ran out before the international border opens. He said was expected by the Federal Government in mid-2022.
“Although the COVID boom has been going since last year, investors are only now gett ing in on the action. Th ey’ve sat on the sidelines mainly due to the rental moratoriums and uncertainty. No one wants to make big fi nancial decisions when their job might be at risk.“
“However, the general economic outlook for the country is much bett er now, despite what is happening in Sydney with the Delta variant now. Most investors now know whether they have job security or not, so the path has been cleared to invest if they can.
“Th e investment landscape looks great,” he said. Australian home values lift ed 12.4% across the combined capital cities in FY21, and a remarkable 17.7% across the combined regions.
Th e average national weekly rent went up 6.6% in FY21 according to CoreLogic, which was the fastest pace since 2009. Growth was best in the regions at 11.3% vs 5% in the capitals.
Sources: McGrath RE report, realestate.com.au
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