The year 2015 is only a few months in, yet already there are signs of where some of the best performing property markets can be found in the Harbour City.
The year 2015 is only a few months in, yet already there are signs of where some of the best performing property markets can be found in the Harbour City. If you're looking for properties that offer large degrees of capital growth, you'll want to keep your eye on these areas.
North west growth centre
A number of suburbs in Sydney's north west have already experienced growth thanks to the construction of the North West Rail Link. At a cost of $8.3 billion, it is Australia's largest transport infrastructure project, delivering eight new train stations that will connect Epping to Cudgegong Road.
Riverstone and Schofields are the next suburbs to benefit from this project, located at the western end of the rail link. While neighbouring Kellyville has also experienced fantastic growth, these suburbs will become increasingly attractive for buyers who can't afford homes in the area. By being a few kilometres out, buyers save as much as $100-200,000.
South west suburbs
The south west suburbs located near Badgerys Creek and the Leppington train line are the other major growth corridor to look out for. Badgerys Creek is set to become the location of the Western Sydney airport, with $3.6 billion being invested over the next decade to build and improve roads connecting the area to Sydney's existing motorways. Meanwhile, the South West Rail Link connecting Glenfield to Leppington just recently opened on February 8.
One suburb in the area to look at in particular is Harrington. It's located nearby, but not directly under the flight path of plans going to and from the airport. According to Residex, as of January 2015, its median house value is $348,000, with a projected annual growth rate of 8 per cent over the next eight years.
If you're interested in investing in one of these areas, DPN can provide you with a free property investment plan to help you come up with a strategy.