When it comes to property, and particularly property investing, “diversity” is all too often treated as a dirty word. This is especially true in suburban areas, where many investors worry that this description is code for unsafe or disadvantaged. However, diversity is usually a positive quality that provides many benefits – as Blacktown clearly proves.
Sitting approximately 35km west of Sydney’s CBD, the suburb of Blacktown is part of the City of Blacktown. Considered one of the most multicultural areas within Greater Sydney, its residents come from a wide range of backgrounds. As such, it is often described as a “melting pot”, with many different cultures represented within the local community.
As the administrative centre for the broader region, Blacktown is home to many of the area’s key civic services. This includes the local hospital, courthouse, police station, and library, as well as the large Westpoint Shopping Centre. The town centre also features a small collection of specialty shops, several hotels, and restaurants serving a range of cuisines.
In recent years, Blacktown has become a hub for sports facilities and is now the base for multiple professional teams. Much of this is centred around the Blacktown International Sportspark, with its multitude of grounds, extensive parkland, and administration centres. There are also several other stadiums and significant sports facilities, as well as ample parkland, located throughout the suburb.
Blacktown is also very well served when it comes to educational institutions. There are many primary and secondary schools in the suburb, with both public and private options available. There are also campuses of the Australian Catholic University, University of Western Sydney, and NSW TAFE.
Tourist interest in the Blacktown area is also steadily increasing, with a range of family-friendly entertainment options now available. This includes both the Sydney Zoo and Featherdale Wildlife Park, a motorsport megaplex, and Sydney’s only drive-in movie theatre. There is also the Blacktown Arts Centre, with its performance and gallery spaces, and the regular night food markets.
Further adding to the appeal of Blacktown is the relatively easy commute it offers into Sydney’s CBD. The suburb has a major station, which is a stop on both the North Shore & Western and Cumberland Lines. There is also an extensive local bus network and driving into the CBD can take as little as 30 minutes.
Luke and Julian each have over 20 years of property investment experience.
While there are many positives to Blacktown, a lot of people still hold negative perceptions about the suburb. This is reinforced by the area’s reputation for being more affordable, which is seen as both a positive and a negative. However, there is obvious investment potential here; you just need to make sure you select the right property.
A good buyers agent can help with this, guiding you through choosing the best property type and location. This is particularly valuable advice if you are planning to invest in Blacktown, as the local demographics are rapidly changing.
Specifically, the suburb is seeing an older generation move out, and professionals and young families move in. This change is being driven by its relative affordability, with property in Blacktown generally cheaper than most surrounding suburbs. The local Council has also made active efforts to rejuvenate the area, which has helped improve liveability and amenity.
While larger family homes are the most highly sought-after, they are generally held for longer, which can cause supply issues. As a result, it is possible to achieve strong capital growth, particularly if you plan to update or extend. However, the higher cost to buy does mean that houses tend to deliver more modest rental yields.
By contrast, units have greater rental potential and can easily achieve yields of more than 4%. However, they are less broadly attractive to buyers, so their capital growth potential tends to be weaker. There is also a trend toward higher density developments in the area, which could also impact unit values over the long term.
As experienced buyers agents, Search Party Property knows how to make the most of complex markets, like Blacktown. Our team members are experts in the investment process and can guide you through every step. From strategy setting to settlement, and on to the next property, we will be there for you the whole way.
To make sure we are offering you the best possible advice, we will start by learning more about you. We will help you understand your motivations, define your goals, and plan the best investment approach. This will provide you with a framework for all your decisions, which you can use throughout your investment journey.
Once your strategy is set, we will start searching for a suitable opportunity to begin – or continue – building your portfolio. In doing this, we will assess the current state of the market, including recent sales results and relevant rental figures. We will also forecast future growth potential, based on factors like plans for significant local developments or infrastructure upgrades.
While we will compile the shortlist of the best opportunities available, you will be responsible for picking your preferred option. If needed, we can help with this, providing advice on which property best fits your investment strategy. We can also help you coordinate the usual inspections (building, pest, etc.), making sure you have all the relevant information.
If everything looks right and you decide to proceed, we will get to work on securing the deal. Depending on the selling method, this could include everything from helping you prepare your offer to representing you at auction. Where required, we will also offer advice on maximising your returns and walk you through putting together your investment team.
At Search Party Property, we are committed to making the property investment process as easy and stress-free as possible. If you would like more information on working with us, or to discuss investing in Blacktown, contact our friendly team today