When you tell your friends and family that you’re buying your first home, the questions are always about the ‘where’. Location is one of the main considerations on where to buy or build your new home. How do you decide where you will hang your hat in Sydney, with so many growing suburbs on the rise and local developments adding further value to our already heaving lifestyles?
Whether you’re buying as an investor or just looking for your dream home, the idea of being able to one day sell your home for profit is very desirable. So, with that in mind, what factors should you be looking for in a neighbourhood?
Accessible Public Transport – The need for easily-accessible public transport options is still a strong driving factor in increasing house prices.
Available Schools – Naturally, a well-regarded school is going to increase interest in an area from families and investors alike. Areas that boast access to several high ranking schools are very likely to maintain and increase in value over time.
Affordable – Ironically, lower prices can be a strong driving factor for growth over time. As more people move into an area and more amenities/shopping precincts pop up, demand will increase alongside a decline in property availability.
Infrastructure – From parks to roads to power, infrastructure is often undervalued when it comes to the home buying hunt. However, the conveniences and security offered by a suburb with good infrastructure are going to be more than worth the price of admission.
Future Developments – When you’re looking to buy in a growing suburb, you’re looking to purchase a home in an area that is going to become more sought after. By staying informed about future developments and planned changes to infrastructure, you can pinpoint growth areas and see which suburbs are likely to see booms of interest in the next few years.
Shopping Precincts – Convenient, high-quality shopping locations are a huge factor for home buyers, especially those with families.
There will always be more factors to consider when it comes to making good property investments. For now, let’s take a look at a few suburbs across Sydney that are currently seeing a lot of buzz in the property market.
Kingswood is an outer ring suburb of NSW, only an hour from Sydney’s CBD. The market is ample with real estate opportunity in Kingswood, experiencing 4.96% growth in just three years. Median house prices are sitting at under $550k, despite the developments and a new surge of residents hitting the suburb. Young families are setting their sights on Kingswood due to the plentiful primary and secondary school facilities, not to mention the transport access.
St Mary’s is a suburb one hour from Sydney, close to Penrith and Parramatta and the vibrancy of those thriving hubs. Annual growth is substantial at 9.77%, with median house prices sitting around the $640k mark. First-time homeowners will only see upside from an investment in St Mary’s, as the area continues to develop due largely in part with the proximity to Badgery’s Creek Airport. Last year saw over 100 sales, and 2019 is expected to be a larger year still.
Campbelltown is a suburb known by all New South Wales residents. With the enviable location of the middle of the South West Growth Corridor, it’s clear to see why Campbelltown’s attracting new families and savvy investors. The expected population growth will position Campbelltown as the face of Sydney’s metropolitan development, making it one of Australia’s fastest growing cities. Only 30 minutes from Western Sydney Airport, investors are finding the median home price of $625k a sound investment with untold growth potential.
Bucketty is as picturesque as it is affordable, located in the highly visited Hunter Region. First home buyers have the option of choosing a dwelling in the bustling centre or sitting on the fringe of the rolling hills. Bucketty has the best of both worlds, with easy Sydney access but far away enough to enjoy the peace. The average median house price is under $425k, which makes this an enviable location for those looking to enter the market in a growing suburb.
Kellyville is a short distance from Sydney, known famously for being the place where city and country meet. For those who enjoy living in New South Wales but are not too keen on the hustle and bustle, Kellyville might be the suburb to call home. Smart investors have been onto Kellyville for the last couple of years, with an annual growth of almost 5% turning heads.
Location makes up such an integral part of the buying process, not to mention the social interest of knowing where you will live and who will be your neighbours. Give each growing suburb its due, but don’t solely be governed by the statistics – it’s also about community and aligning yourself with a sustainable lifestyle.