Investing in Sydney’s real estate market has been somewhat tricky in recent years, with high prices meaning that buyers and investors need due diligence more than ever before. Despite the now dropping market across Sydney, high prices still call for savvy and, on the look, -out for ways to find upcoming ‘hot spots’. There is huge potential in some pockets of metropolitan Sydney, set to benefit from future development and infrastructure projects.
In particular, Sydney’s flourishing North West should be high on everyone’s radar. For those who desire to buy property in an area that offers similar lifestyle benefits to the city, but at much greater affordability, north-west Sydney is definitely delivering.
It has been predicted that demand will continue to be met with a huge variety of supply in North Sydney. In accordance with The Implementation Plan proposed by the New South Wales Government, some 33,000 new homes are to be developed in North West Sydney. Estimates by the Hills Shire Council predict the population in Castle Hill will grow by at least 49.53% by 2036, allowing the area’s continued expansion and prosperousness. The range of growth and development projects underway pinpoint the entire region as a priority growth area, with heavy investment and development taking place within the next few years.
With more available urban space than the inner city, the north-west is also offering new major shopping centre developments, along with schools, parks, sporting facilities, service centres as well as roads and transport services. For example, recent infrastructure developments which, include the $900 million upgrade of Castle Towers and the $8.3 billion North West Rail link. Not only will buyers enjoy the benefits of contemporary life with an easy commute to the city and all the local amenities they need, but they can also become part of a strong local community, which the inner city often lacks.
To combat rising property prices in Sydney buyers and investors are strongly encouraged to continue to seek out growth areas and identify “hot spots” to realise the future potential, rather than to try to buy into markets that have already hit their peak. North West Sydney could just be where your future will unfurl.