Greater Western Sydney outpaces growth with rising property prices
Property values across Greater Western Sydney are climbing, with all but one of its 13 local government areas recording gains in the 12 months to June.
According to NAB’s Greater Western Sydney Horizons Report, Fairfield led the increases, reflecting strong demand across the west and reinforcing its growth story.
Median dwelling values reached $1.13 million in June compared with Greater Sydney’s $1.21 million. This relative affordability is a key driver of demand, particularly as Greater Western Sydney is projected to absorb two-thirds of the city’s population growth in the years ahead; more people moving into the west means greater competition for homes, placing further upward pressure on property values.
What makes the outlook even stronger is that affordability is only part of the picture, with major projects and new economic hubs also supporting sustained growth. Western Sydney International Airport, the Aerotropolis and Sydney Metro West are all boosting connectivity and creating long-term opportunity for home buyers and investors in the capital.
About the author – Alex Veljancevski is a Sydney Mortgage Broker with Eventus Financial, which assists first home buyers, investors, upgraders and borrowers seeking to refinance to a better deal on their home loan.
