With one of the strongest housing markets in the country, it’s unsurprising that pockets of Sydney have skyrocketed in value over the past few years – in some cases, where you would least expect it!
Here are a few of the Harbour city suburbs that have gone from drab to fab, thanks to the recent property boom…
One of the most diverse, multi-cultural suburbs in the country, property values in Blacktown have gone from strength to strength, gaining 46 per cent in the past three years. However, with a median house price of $730,000, it’s still affordable by Sydney standards.
With council plans in the works to update the CBD, university and sporting facilities next year, price growth in Blacktown is sure to continue – so now might be the perfect time to snap up a property like this lovely 4-bedder, before the market goes through the roof!
Just 10 kilometres from the CBD, Croydon Park boasts house values that have more than doubled over the past five years, to the point where you’ll now need a multi-million-dollar budget if you hope to score a property there. That’s right: the median house price has hit $2.1 million in this sought-after neighbhourhood.
With hundreds of new homes scheduled for construction in the coming years, thanks to council re-zoning, Croydon is likely to remain a high-growth area into the future. This apartment would make the ideal first home or investment property for a young couple wanting to get onto the property ladder.
The market in Panania is expected to continue to soar as we welcome 2018, after reaching the $1 million mark this year – a gain of almost 40% since 2014. With infrastructure projects in the pipeline and the new South West rail link making commuting a breeze, the new owners of this home will undoubtedly be glad to have secured their slice of the suburb.
The median price in Dural is currently a touch $1.5 million – astonishing for in a suburb that was once considered too rural and far from Sydney to be a property hot spot. Located around 34 kilometres from the CBD, Dural has seen rapid development over the past few years, with many newly-built homes and units now standing alongside the multi-million-dollar acreages of old.
Commuters can travel to the city via the M2, and the village-like atmosphere makes it the ideal place for young families, who love the parks and excellent schools. With properties such as this one on offer, it’s no wonder!
Located 33 kilometres north-west of the city centre, Bella Vista started out as a farming area, and has been in the midst of a development boom for the past ten years. Since 2012, house prices in the suburb have grown a mind-boggling 82 per cent, to the current median of $1.6million.
With new medical and hospital facilities, 3 shopping centres and new residential and commercial developments popping up all over the place, it’s easy to see why families have been drawn to the area. It’s fast becoming the central business district for The Hills local government area, and is the corporate headquarters for many major players in the national economy, including AAMI Insurance and Woolworths Limited. This grand home is typical of the luxurious digs a family can expect to purchase in the $1.6-1.8 million price range in Bella Vista.
One of the oldest urban settlements in Australia, the median house price in Liverpool is currently just $800,000 – but don’t let that fool you!
If you’d bought here back in 2012, you’d be laughing all the way to the bank, as your home would have doubled in value in that time. The local Westfield underwent an extensive refurbishment in 2006 and again in 2011, and some experts predict Liverpool will become the quasi-capital of Sydney’s south-west in the coming years, thanks to infrastructure spending and development – so be quick if you want to score a property like this one at an affordable price!