Sydney properties have steadily increased in value over the last decade, and it’s no wonder why. Sydney offers excellent schools, a diverse night life, and a wealth of natural beauty for people who want to stretch their legs and soak in the wonders of the natural world. In addition, properties in some Sydney neighbourhoods are set to raise in value as some of the planned developments of 2018 come into play.
These developments mean huge increases in value for certain suburbs in the following years. In addition to making Sydney a major player in both travel and industry, they offer the wise investor a chance to get a hefty return on a timely purchase. Here are the suburbs that are set to experience major changes this year:
Badgerys Creek is about to be the home of a new international airport. Hands down, this is big news. The construction has already begun, and soon this suburb and those that surround it are set to become prime real estate. To accommodate these new developments, the New South Wales government has announced the creation of an entirely new suburb. This suburb, South West Creek, will be placed along the southern fringe of the airport and will feature 30,000 homes. And that’s not all. The northern fringe of the airport is planned to feature another 300 homes and a town centre.
Homes in the suburbs close to the airport have already dramatically increased in value, and this is just the beginning. In Silverdale, the suburb just west of Badgerys Creek, the median house price has increased in value over 20% in the last six months alone. Liverpool, a suburb a short drive east of Badgerys Creek, now features a new office for the Western Sydney Airport Corporation. The values of residential properties in this area are set to skyrocket before the end of the year.
While the recent construction of WestConnex has caused the market value of many residences in the Inner West market to plummet, Marrickville has continued to boom. In 2018, construction is planned for hundreds of apartment complexes and nearly 3000 new high-rises along Carrington Road. To top it off, legislation is currently underway to rezone Marrickville’s industrial area into a creative complex housing offices, restaurants, cafes, and small bars. The decision hasn’t been finalized yet, but if the plans go through, expect Marrickville to become one of Sydney’s new high-value residential suburbs.
Edmondson Park is the site of one of Sydney’s new master-planned communities. But, it’s not the only suburb to have this distinction. However, Edmondson is also the site of a new railway station, a station that houses the South West Rail Line to link the residents with Liverpool. This makes Edmondson Park an ideal suburb for those who prefer to use public transportation rather than cars. Plans are also in motion to construct schools, a cinema, and more than a hundred shops.
The residential land in Edmondson Park has already been bought up by developers, and homes are currently being constructed in anticipation of a massive inflow of new residents. There are high odds that the value of homes in this suburb will increase rapidly over the next year, so you may want to get your foot in the door while you can still get a good deal.
The key change driving the transformation of Frenchs Forest is the Northern Beaches Hospital. The hospital is set to open this year, and with it will come massive rezoning and around 5000 apartments, as well as a large town centre. A proposal has also been put forth to the New South Wales government to construct the Beaches Link Tunnel in order to connect the hospital with the Lower Northern Shore. If the proposal goes through, French’s forest will house more than 10,000 apartments.
The hospital alone will provide jobs for more than 1300 people, so the residences near it will become prime real estate before long. New roadway construction will make Frenchs Forest easily accessible, and current residents have seen the trend. Residences in the neighbourhood are already hot commodities for investors, and if the tunnel is approved, you can expect the prices to rise even more.
Recently, one of New South Wales best-ranked schools, St Ives Primary School, reduced the size of its catchment zone. The suburbs surrounding St Ives Chase are now excluded, and this dramatically increased the value of residences in the suburb. Over the last year, the median house price has risen almost 10%, and this trend is expected to continue through the following year.
With the chronic overcrowding of schools on the Northern shores, St Ives Primary has become even more appealing for parents. As a result, St Ives Chase, once the cheapest suburb in the area, has now becom ethe most expensive and highly sought-after. If you can find a property in this neighbourhood, you’ve got an investment that’s sure to increase in value over the coming years.
It’s a major investment to purchase a home, and wise investing is key for both retirement planning and providing for your children. When considering how and when to invest, it helps it look at the predictions offered by home loan specialists. Here is a breakdown of some of the main trends in Sydney for property prices and interest rates for 2018.
Given the high prices of homes in the current market, you’ll want to make sure you can get the best Sydney home loan you can. For this, you’ll want a qualified and experienced Sydney mortgage broker, someone who’s familiar with the area and can act on your behalf to secure home loans with the lowest interest rate, in suburbs that will increase in value over the years. Home loan specialists can make sure that you know about the intricacies of the real estate market, giving you all the information you need to find a basic home loan tailored to your needs, and helping you to invest in a home that will increase in value over the years.
When it’s time to invest in your new home, make sure to find a qualified Sydney mortgage broker that understands both your needs and the current market. With home values across Sydney raising steadily, you’ll want to find the best deal you can on your home loan. If you have any questions or would like more information, contact 1st Street.com.au anytime.