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Sydney Western Suburbs Property Investment – The Diamond Out of the Rough!
The stigma of owning, living or renting in Sydney Western Suburbs (western and south-western suburbs) is way past it’s use-by date. If you don’t agree, you are either living under a rock or you didn’t capitalise on some of the greatest opportunities Sydney’s West has to offer – Affordable housing, strong growth, lower cost of living and within close proximity to growing Business Districts.
Often the undesirable areas of the past, come to life when governments, councils and business commit to turning things around by creating great places to work, play and live.
This sounds delightful until, what was once an affordable area, becomes unattainable. Not so good for the people who didn’t get into the market earlier on. Exorbitant house prices that don’t come with water views, that are not in close proximity to the Sydney CBD, that don’t have the best public transport system. What they do have though is a growing community, a family orientated lifestyle, the feeling of living in suburbia with most of the luxuries a city brings. A lot of good reasons to get you there and keep you there.
When Sydney is on the run, and the investment property market is super hot, the western areas are more often than not the first ones to boom.
On the flip side, when things become tough, interest rate rises or unemployment increases, the western suburbs are the areas that are the first to see an increase in Mortgage delinquencies. You may also see tenants seeking assistance with Government benefits. During this time, however, you will find people from more affluent suburbs moving here to reduce their expenses. So, the market continues to stay active and therefore could influence a rent increase despite the wider economic downturn.
Even brighter days are ahead for the Sydney Western Suburbs investment property market. Over the next 10-15-years, there will be more jobs opening up, thanks to the Badgerys Creek airport, significant increase in spend on roads and rail, and new housing. When the Government is spending, Business starts spending, because there is support and security in the infrastructure being created to sustain the long-term investment.
