PROPERTY SHOWCASE PARRAMATTA
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ISSUE 19 | February 2022
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Our region ideal for two markets ARRAMATTA’S is proving attractive for two key demographics of the booming Sydney property market in 2022. The demographics are young first homebuyers and investors looking for a solid property which will provide a good income while increasing in value. And there are plenty of properties to choose from. According to realestate.com.au, Parramatta currently has 463 properties available for rent and 237 properties for sale.
Median property prices during the last year ranged from $1.36m for houses to $605,000 for units. This makes buying a unit in Parramatta as a great option for first homebuyers because it is still affordable. If you are in the market for an investment property, consider houses in Parramatta which rent out for $480 per week with an annual rental yield of 1.8%. Units typically rent for $415 per week with a rental yield of 3.6%. Based on five
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years of sales, Parramatta has seen a compound growth rate of 5.6% for houses and -1.6% for units. North Parramatta is proving more attractive for unit buyers looking for a quieter lifestyle in walking distance of the bustling CBD. However, Parramatta is excellent for those who enjoy the vibrant lifestyle and is especially attractive for those who need transport to work. But you had better be quick to snap up a bargain if January sales are anything
to go by. While the Sydney market was considered to have ‘cooled’ in January, the west with its lower, reasonable prices, continues to be ‘warm’ to ‘hot’ depending on the suburb. For example, a home trashed by renters and needing a complete renovation at Blacktown, sold for $765,000. The home was marketed by Daniel Formosa of Starr Partners Blacktown who targeted buyers seeking a property to renovate and it attracted scrutiny by the national media.
Parramatta a top rental city DALLAS SHERRINGHAM EVERAL suburbs in the Parramatta region have been rated in the top rental opportunities for families as in Greater Sydney. The just released RentRabbit.com.au Tenant Opportunity Report reveals the top 20 tenant-friendly suburbs within commuting distance of Sydney’s CBD. Rosehill placed eight at $460, Westmead ninth at $460 and Wentworthville 10th at $460. Parramatta was ranked 13th at $480 median rental. Other suburbs in the region ranking in the top 20 were Greystanes 11th at $475, Northmead 15th at $490 and Dundas 17th at $510. Ingleburn was judged best rental suburb in Greater Sydney at $430, while Blacktown was second, also at $430. The new research commissioned by RentRabbit established the leading rental markets for tenants who have average salaries and want to live in good areas. To make sure suburbs are suitable for families, only house markets were considered – unit markets were excluded. To further ensure markets are tenant-friendly, suburbs were excluded if they are more than 100km from the CBD. That leaves a small list of Sydney suburbs. To establish a top 20 ranking. These suburbs were then ranked based on weekly rental rates, from lowest to highest.
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All the suburbs had a median weekly rent of $525 or below, while most were located within 35km of the CBD. RentRabbit.com.au co-founder Ben Pretty said life was tough right now for tenants on average incomes. "Vacancy rates are low in many parts
of Sydney and landlords are responding by jacking up rental rates,” he said. "I really feel for tenants who are being forced out of their homes and suburbs, especially when they have kids who are forced to change schools. “The RentRabbit Opportunity Report
aims to help everyday tenants identify rental markets that are affordable, while also being livable and commutable. “That way, they can focus on raising their families and building their lives, without having to worry about whether they can afford to pay their bills.”
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FUNDING
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Chamber’s plan for arts sector: 4
Dune – 5 Stars. The greatest movie of the decade: 26
Thank you to all our readers and advertisers for your support during 2022 and we look forward to returning with some exciting new projects in 2022.
RETAIL BOUNCES BACK -WEST WINNERS Фf^ ÌÓ æ â î î±Ë æ ® þ Ì î® îÓó©® æî ÓÌ EÓÿ â î ±Å âæ ® þ â þ Å î® æÓÅóî±ÓÌæ Ì â Óâ ¨Óâ w æî âÌ ^ą Ì ąФæ У â± Âæ Ì ËÓâî âФ æóßßÓâî Ë æóâ æ Ì ¨Óâ î® ±Ì óæîâą ÓóÌ â î ±Å ±Ì óæîâąϻ óî î®±æ æ îÓâ ® æ ßâÓó Â î®±æ ą â Ì ąÓÌ Ϻ ®±æîÓâą Ó¨ ÓóÌ ±Ì©  ¨âÓË î® ® â æî Ó¨ î±Ë æϺ FULL STORY PAGE 5
WSABE 2021 celebrates hope, resilience de si in ARRAMATTA Chamber of Commerce found-
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ed the Western Sydney Awards for Business Excellence in 1990, affectionately known as WSABE. On Wednesday, November 24,
World class health care
Westmead Hospital’s new clinical tower oepns: 2
2021, about 700 guests gathered at ATC, Rosehill Gardens to celebrate business excellence in the region. After what has been the most challenging period of our working lives, guests flowed,
New suburb named BradÀeld
Govy ofÀcially names high tech city at Aerotropolis: 6
BEST GIFT SINCE THE OPERA HOUSE
MERRY CHRISTMAS
World ranking for WSU Business School: 8
immaculately dressed in theme ‘Back in Black’ with a touch of gold celebrating hope and resilience. The resilience of the business community in Western Sydney is second to none. More page 17.
Family business in COVID
How many leveraged patience capital during COVID: 12
How hope really works
Feature on the Salvation Army Red Shield Appeal: 15
POWERHOUSE Parramatta CEO Lisa Havilah is more interested in the flood of excitement over the controversial $920M project than any flood-waters that may lap at its riverside approach. After the recent devastating rains that saw Parramatta River break its banks between the ferry wharf and the site of the museum, Ms Havilah is adamant that the building and its exhibits will not be affected.
ITS beginning to look a lot like Christmas in the City of Parramatta with an assortment of fun Yuletide activities for people of all ages to enjoy. See page 12.
FULL STORY PAGE 10
INSIDE TALE OF TWO POOLS
A 160 YEARS THIS EDITION
Minister pushing for more women on Parramatta Council: 3
FTER a few hot summers for swimmers who loved Parramatta and w ÌîÿÓâî®þ±ÅÅ ßÓÓÅæ Ì æóđ â during their closures, relief is on the AUTO: SsangYong's mid-life update: 30 way. Just a day apart, the refurbished BUSINESS: Retailers reveal solutions: 34 Wentworthville pool opened and TRENDS: Is love passing you by?: 36 î® Ĝâæî æÓ ÿ æ îóâÌ ÓÌ î® spectacular Parramatta Aquatic Centre. Both communities have N its 160 years as a local government area, Parramatta certainly has grown up - all been without a pool since 2017, the the way to the sky. Four days after a ceremony commemorating the declaration of Parramatta as a municipality, Sydney’s burgeoning second city welcomed Premier Parramatta Memorial Pool demolished Dominic Perrottet to the “topping out” ceremony of the 55 storey high 8 to make way225 formetre Bankwest Stadium Parramatta Square, which, with adjoining 4 and Square, will house 9500 and6 Parramatta the previous Holroyd Council NSW Government workers. More page 8. wanting to close the tired Wenty pool SALOVS: How hope really happens: 19
OF GROWTH
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rather than refurbish it. After a bit of æ óĖ îÿ Ì W ââ Ë îî ÓóÌ ±Å and the NSW Government on who would pay for its replacement, an agreement was reached on funding for the state-of-the-art aquatic centre. And in Wentworthville, a concerted community campaign and the Cumberland Council, saved the beloved pool with an upgrade. While Parramatta residents wait two years for their pool, they are welcome to dive to Wenty.
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MERRY CHRISTMAS Thank you to all our readers and advertisers for your support during 2021 and we look forward to returning with some exciting new initiatives in 2022.
WIN See page 4 for a chance to win a $150 dining voucher from Blacktown Workers Club.
Young people turning their lives around at BYSA.
Youth Needs Our Support
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VITAL youth service in Blacktown is set to close after missing out on important State Government funding. The Blacktown Youth Support Association’s Youth HQ program helps young people at risk - those who have
been in trouble with the law or those who may be headed that way. But the service was told at the end of last year by the Department of Communities and Justice that they had missed out on funding, in favour of more “targeted” youth
programs. A letter from the Minister for Families and Communities Gareth Ward suggested that the BYSA seeks funding from other government departments such as education and sport. FULL STORY 10
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ELCOME to Blacktown's NEW LOCAL media voice, The Blacktown News (BN). The Blacktown News is the much-anticipated
The News will be distributed across 110 strategic distribution points in the LGA. Published in digital and print editions the Blacktown
As one of the state’s fastest growing cities, Blacktown has undergone a signiĜcant transformation. It's population is set to rise from 400,000 to 540,000
HEnewspaper troublesome Prospect a ođ $280M year on the 3.6km stretchbyof highway, after the contract was new and digital media Highway brand that is set for residents 2036. News ers maximum impact fornext targeted advertising covers Blacktown LGAthat withwill localimprove news written by experiThe Blacktown News is the and digital media opportunities and reach to Blacktown's diverse upgrade safety and travel times in Greater awarded topopulaFulton Hogan. Federal Minister forprint Communications, enced journalists. resource that connects residents and visitors to the city’s tion. Blacktown WesternONLY Sydney. The blackspot has been of championingUrban Infrastructure, Cities and the Arts Paul Fletcher the The Blacktown Newsand is Blacktown's printed diverse community, its progress, businesssaid opportunities With a mission community and newspapergiven and is the independently owned and managed lifestyle. business issues, the BN is a proud project media partner of the green light thanks to a joint funding commitment would deliver and improvements to travel times and safety for locally by a management team that has been working in We value your feedback. Go to www.greaterblackGreater Blacktown Chamber of Commerce, the Blacktown from the for Australian and NSWs governments. Work willBusiness start early drivers, More 6. story. Blacktown almost 20 years. townnews.com.au topage share your Local Awards and Blacktown FC. cyclists and pedestrians.
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