Wednesday, 30 September, 2020

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Two western Sydney regions make 2019 top 10 suburbs list


A new housing estate at western sydney’s Oran Park. (AAP Image/Brendan Esposito).

Two western Sydney locations feature in realestate.com.au’s Top 10 number of house sales for 2019, coming in at number four and seven.

Oran Park is number four on the annual list, with 221 sales through 2019 at a median price of $700,000. Coming in at number 7 on the list is Glenmore Park with 206 sales at a median of $712,000.

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Nerida Conisbee outside beautiful houses

Nerida Conisbee, chief economist of REA

REA Group chief economist Nerida Conisbee said the reason Oran Park ranks so high on the list is the demand for house and land packages in residential developments and it looks like the high volume of such builds will continue.

She said the demand comes from first homebuyers and started after the May Federal Election.

“Email inquiries from first home buyers interested in house and land packages really picked up on realestate.com.au after the Federal Election but quietened down in October and November when owner occupier interest to filled the gap and that seems to be driving things recently,” she said.

REA Group Chief Economist Nerida Conisbee

“We started to see a lot of activity in those areas when the western Sydney airport was first announced.

“We all know people love an infrastructure project and today we saw the draft plan for the Aerotropolis released so we can expect to continue to see a lift in activity.

A new housing estate at Oran Park. (AAP Image/Brendan Esposito)

My Property Consultant agent Shannon McDonnell said a lot of the interest around Oran Park comes from people buying with the intention to keep for the next 20 years.

He said it will be “scary” what the western Sydney airport and necessary infrastructure will do to property prices in the near future.

“Badgerys Creek Creek is only about 20 minutes from Oran Park and despite a number of housing estates nearby Oran Park will be the best bet for infrastructure as a lot of subdivisions are released nearby,” he said.

Aerial Pics for Housing Splash

Aerial photos of the new housing estate Oran Park. Picture: Jonathan Ng

“Some savvy investors are buying up due to the airport coming and associated infrastructure projects like the train line … Oran Park is such a big area with a host of listings but other nearby estates are coming into their own.

“A lot of the sales are decent buys in areas with big infrastructure projects ahead.”