Infrastructure underpinning buyer interest
One Sydney suburb has seen increased property interest due to significant new infrastructure projects, according to PRDnationwide’s research department.
Interest in residential property in western Sydney suburb Liverpool has jumped up due to a rail upgrade, expansion to existing health facilities and retail hubs. Median prices have been “robust” since 2008 they noted, while transactions have increased over the last six months.
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Currently, median prices sit at $472,000 for houses and $300,000 for units, with much of the demand being for houses.
Research analyst for PRDnationwide Oded Reuveni-Etzioni said it was becoming a genuine buyer hotspot – due also to the affordability.
"We've seen a 5.9 per cent increase in house transactions in Liverpool for the six months to April this year, and more than a six per cent increase in median price for houses in the last year," Mr Reuveni-Etzioni said.
"With the median price at around $472,000 and with the suburb supported by a strong retail and health presence, buyers are comparing Liverpool to other more expensive areas of Sydney and seeing a suburb that offers great opportunities."