Ask most Sydneysiders about the Western Suburbs and the area’s diversity is sure to be one of the first things they mention. And for good reason – a quick look at the stats shows that the region is one of the city’s most varied. Which is quite understandable, given the size and population of the area.
Home to approximately 9% of the country’s population, the Western Suburbs are the embodiment of modern Australia. With residents coming from over 170 countries and speaking over 100 languages, the area is a true cultural melting pot. This has been further reinforced by its popularity with new migrants, approximately 60% of which choose to settle in the area.
While traditionally one of Sydney’s most working-class areas, West Sydney also feature some of the city’s most financially advantaged locations. This is supported by the strong local business sector, with approximately 75% of residents also working locally. As the area has long suffered from poor transport connections this ability to live and work locally is highly prized.
As experienced buyers agents, we love areas like Western Sydney. While they may not be the biggest investor hot spots, there are plenty of opportunities for those willing to look. They also favour those that do their research and are willing to consider a wide range of options.
Luke and Julian each have over 20 years of property investment experience.
While the Western Suburbs may not be to everyone’s taste, the area appeals to many. It is also traditionally more of an affordable area to buy in and there is usually strong demand for rentals. This makes it a prime location for property investors.
Importantly, the population of West Sydney is projected to increase significantly over the next 5 – 10 years. In fact, the area is expected to shoulder much of Sydney’s growth over the next few decades. This should mean that demand for property in the region remains strong for the foreseeable future.
That being said, the Western Suburbs has also seen a lot of development over the last 5 – 10 years. This has increased the available housing stock in the region and is forecast to continue for at least the next decade. As such, there are some areas and market segments where capital growth will likely be slower.
Offsetting this is the generally strong demand for rentals throughout the region. This is propped up by the large percentage of Western Sydney residents that are long term renters. As a result, even lower-end and “investor grade” properties usually attract significant interest.
With all of this in mind, Western Sydney is a great option for open-minded investors. However, if you are considering buying in the region, it is critical you do your research and make sure the numbers stack up.
Whether you are new to property investment or just need a little help finding your next purchase, Search Party Property can help. As leading buyers advocates, we specialise in spotting great opportunities and sharing them with serious investors. We can also guide you through the whole process and help make sure you get the most from your investments.
If you are thinking about investing in the Western Sydney property market, research will be the key. However, we understand that this is not everyone’s forte – or interest. That is why our experienced team are experts in monitoring local markets, analysing price and population data, and investigating individual properties.
This allows us to share invaluable insight with you and should help take the stress out of choosing an investment property. It also allows us to recommend the optimal management approach for individual properties, including any maintenance or renovation work required.
To further support you on your investment journey, we will also work with you to develop a tailored investment strategy. As part of this, we will take the time to get to know you, your situation, and your motivations. We will also work with you to clearly define your investment goals and make sure the approach we take will help you achieve them.
If you would like more information on Search Party Property’s service, and what property investment could do for you, give us a call.