Property prices will continue growing in key Sydney suburbs backed by demand

1 min read

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Even though the boom in Sydney’s real estate market has been tapering off a little in recent times, experts feel that several suburbs in Sydney will continue witnessing high demand levels and this will lead to sustained price growth in the near future. Southwest Sydney is one of the biggest regions in the city where housing values are forecasted to increase on the back of growing demand. Rising sales volumes are usually indicators when it comes to expected increases in home prices. There are more than 700 suburbs in the metropolitan zone of Sydney but some key suburbs are amongst the hottest realty markets in Sydney at the moment.

These include Rosemeadow, Macquarie Fields, Tahmoor, Spring Farm and Beaumont Hills among others. Four of these areas lie within the Camden, Campbelltown and Wollondilly local government zones which are within a radius of 30 kilometres southwest from the Sydney Central Business District (CBD). Beaumont Hills is located in northwest Sydney however and is an exception of sorts. The southwest region is witnessing a boom in real estate on account of high demand from first-time buyers and infrastructural development including better railway and road access. The development of the Western Sydney Airport is another major growth trigger for real estate markets in this belt.

The Campbelltown and Camden regions should continue witnessing solid growth in the near future and there is ample land available for developing new projects and residential communities. There are other areas like Canterbury-Bankstown and Blacktown which continue to see growth in prices and demand alike. There are the northern beaches which are another hotspot in terms of growth. Some of the suburbs have transformed into buyers’ markets due to lower prices including Parramatta, Harris Park, Carlingford, Ermington, Mascot, Waterloo and Zetland which could again see demand rise in the future.

Several investors are also eyeing regional zones for investments on account of the better returns and lower capital values. Some of the key regional hubs include the Hunter Region and Newcastle among others. Prices have already gone up by a whopping 20% or close in the City of Newcastle over the last year or so. There are nearby zones which are also attracting healthy demand including Singleton, Maitland and Cessnock among other areas.

 

 

Resident Editor