Property

ISSUE 19 | February 2022 PROPERTY PARRAMATTA 13SHOWCASE Got something to share? Send your property tips to info@parramattatimes.com.au

Our region ideal for two markets

PARRAMATTA’S is proving attractive for two key demographics of the booming Sydney property market in 2022.

The demographics are young fi rst 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 fi rst homebuyers because it is still aff ordable.

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 fi ve 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

SEVERAL 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.

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 aff ordable, 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 aff ord to pay their bills.”

HOW TO WIN THE WEST HOW TO WIN THE WEST

WESTERN SYDNEY MEDIA ALLIANCE

DECEMBER 2021 | EDITION 128 BUSINESS | LIFESTYLE WWW.ACCESSNEWS.COM.AU

APRIL 2021

Edition 120 WESTERN SYDNEY BUSINESS

FILM REVIEWS

Dune – 5 Stars. The greatest movie of the decade: 26 EDUCATION

World ranking for WSU Business School: 8

RETAIL BOUNCES BACK

WEST WINNERS FULL STORY PAGE 5 WSABE 2021 celebrates hope, resilience insidePARRAMATTA Chamber of Commerce founded the Western Sydney Awards for Business Excellence in 1990, affectionately known as WSABE. On Wednesday, November 24,

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, 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.

New suburb named Brad eld

Govy of cially names high tech city at Aerotropolis: 6 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 Voice of Australia’s most progressive city ParramattA TIMES OUR CITY’SLOCAL PAPER ISSUE 9 | April 2021 Minister pushing for more women on Parramatta Council: 3 ParramattA TIMES ISSUE 17 | DECEMBER 2021 TRUSTED LOCAL NEWS WWW.PARRAMATTATIMES.COM.AU

MERRY CHRISTMAS

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. BEST GIFT BEST GIFT SINCE THE SINCE THE OPERA HOUSE OPERA HOUSE

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.

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.

FULL STORY PAGE 10

THIS EDITION TALE OF TWO POOLS

AUTO: SsangYong's mid-life update: 30 BUSINESS: Retailers reveal solutions: 34 TRENDS: Is love passing you by?: 36 SALOVS: How hope really happens: 19

AFTER a few hot summers for swimmers who loved Parramatta and during their closures, relief is on the way. Just a day apart, the refurbished Wentworthville pool opened and spectacular Parramatta Aquatic Centre. Both communities have been without a pool since 2017, the Parramatta Memorial Pool demolished to make way for Bankwest Stadium and the previous Holroyd Council wanting to close the tired Wenty pool

160 YEARS rather than refurbish it. After a bit of and the NSW Government on who would pay for its replacement, an OF GROWTH 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 IN its 160 years as a local government area, Parramatta certainly has grown up - all 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 Dominic Perrottet to the “topping out” ceremony of the 225 metre 55 storey high 8 beloved pool with an upgrade. While Parramatta residents wait two years for their pool, they are welcome to dive to Wenty.

Parramatta Square, which, with adjoining 4 and 6 Parramatta Square, will house 9500

NSW Government workers. More page 8. FULL STORY PAGE 6

INSIDE WSABE 2021 WRAP-UP

NEW LOCAL ISSUE 9 | DECEMBER 2021 TRUSTED LOCAL NEWS WWW.GREATERBLACKTOWNNEWS.COM.AU Blacktown's LOCAL media voice BlacktownsLOCALmediavoice

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

Young people turning $150 dining voucher from Blacktown their lives around at BYSA. Workers Club. Issue 1 | April 2021 Issue1|April2021

EXCLUSIVE: Bob Turner on his new role at Blacktown FC.

Youth Needs Our Support

AVITAL 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

WELCOME to the Blacktown NEWS

WELCOME to Blacktown's NEW LOCAL media voice, The Blacktown News (BN).

The Blacktown News is the much-anticipated new newspaper and digital media brand that The News will be distributed across 110 strategic distribution points in the LGA. Published in digital and print editions the Blacktown News o ers maximum impact for targeted advertising covers Blacktown LGA with local news written by experienced journalists.

The Blacktown News is Blacktown's ONLY printed newspaper and is independently owned and managed locally by a management team that has been working in Blacktown for almost 20 years. opportunities and reach to Blacktown's diverse population. With a mission of championing community and business issues, the BN is a proud media partner of the Greater Blacktown Chamber of Commerce, the Blacktown Local Business Awards and Blacktown FC.

As one of the state’s fastest growing cities, Blacktown HIGHWAY UPGRADE HIGHWAY UPGRADE has undergone a signi cant transformation. THE troublesome Prospect Highway is set for a $280M upgrade that will improve safety and travel times in Greater Blacktown and Western Sydney. The blackspot has been given the green light thanks to a joint funding commitment It's population is set to rise from 400,000 to 540,000 residents by 2036. The Blacktown News is the print and digital media resource that connects residents and visitors to the city’s diverse community, its progress, business opportunities and lifestyle. from the Australian and NSWs governments. Work will start early We value your feedback. Go to www.greaterblacktownnews.com.au to share your story.

next year on the 3.6km stretch of highway, after the contract was awarded to Fulton Hogan. Federal Minister for Communications, Urban Infrastructure, Cities and the Arts Paul Fletcher said the project would deliver improvements to travel times and safety for drivers, cyclists and pedestrians. More page 6.

Keep up to date with the latest news in and around Blacktown!

High impact media that reaches Australia’s fastest growth region - Greater Western Sydney, home of Australia’s newest 24-hour airport.

Targeted reach. Four powerful media brands in digital and printed formats. Contact us today for a conversation about your success plans: graham@accessnews.com.au