Sydney's south west primed for growth
The outer suburbs of Sydney will be hit by a surge in demand as rising prices push buyers further out, a leading property analyst has said.
Australian Property Monitors senior economist Andrew Wilson said Sydney’s inner suburbs were becoming increasingly out of reach for buyers.
“Given how strongly prices have grown in Sydney over the last 12 to 18 months, buyers are starting to look at more affordable suburbs and we're starting to see price growth in those south-western suburbs start to pick up,” he said.
These families may reconsider buying in several suburbs which were formerly out of favour, he suggested.
“All of that region – Macquarie Fields, Ingleburn, Campbelltown – are all now starting to rise,” he said.
“They are gentrifying and they do possess a reasonable level of urban infrastructure and amenities."
In his view, the south west offers public transport and commuting options, despite its distance from the CBD.
“There's the motorway there and also the train line. These are the key factors that people start to look at in terms of ticking their boxes," he said.
Dr Wilson also predicted the airport planned for Badgerys Creek would stimulate prices in the regions.
“That will mean more job opportunities and these areas become even more popular,” he said.