Sydney property values are some of the highest in the world, and many buyers are willing to pay the premium for the privilege of living in the beautiful harbour city. However, amidst tight competition and as the best of the best get taken off the market, the search spreads ever outward, for buyers keen to nab the perfect property. Locations outside of the central metropolitan area, such as north western Sydney have started to come into their own and many have become marquee locations – offering the lifestyle and conveniences of city living, for half the price of the central Sydney equivalent.
Sydney’s north west has developed in recent years to become a busy, well serviced region, accommodating for a number of life stages amongst its residents and thus attracting a diverse community. Further transformation is ahead, as the NSW state government funnels literally billions of dollars of investment into numerous major projects in the west and north west of Sydney. Along with the existing amenities such as local goods and services precincts, shopping centres, cafes, bars and restaurants as well as education, sporting and leisure facilities, new projects will fuel and support planned future growth for the north western Sydney region.
Key major projects focused on the west such as the Western Sydney Airport development (due to open in 2026), and the Western Sydney City Deal will have more than an indirect effect on the north western region too. As a result, local projects including Sydney Metro Northwest are preparing the region for the growth ahead, particularly as the NSW Planning and Environment department rolls out its North West Growth Centre (NWGC) plan, prioritising strategic growth for the region through to 2026. With new railway stations, increased frequency of transport services and expanded commuter parking options as part of the metro project; and 33,000 homes and 250,000 more residents the goal of the NWGC plan, north western Sydney is poised to become a city in its own right. The new residents will utilise the results of the metro project as early as 2019. It will open up transport corridors with stations running between Tallawong and Chatswood, and transform commuter behaviour, with services expected to run every 4 minutes, making timetables a thing of the past.
Sydney’s north west is a rich part of Australia’s heritage, with many towns in the Hills Shire in particular, dating back to the early 1800s. Locations such as Kellyville, Box Hill, and Rouse Hill were some of Australia’s first settlements, and heritage listed sites in the region ensure it retains its rural charm. Today north western Sydney would be unrecognisable to those early settlers, but to its modern-day residents it offers all the modern conveniences along with an affordability that is impossible to achieve today in central Sydney.
North western Sydney’s shires include Blacktown City Council, The Hills Shire Council and Hawkesbury City Council and there are various exciting new residential developments taking place in each, creating a buzz not previously seen. Projects such as The Hugh in North Kellyville and Marsden Central in Marsden Park are delivering contemporary living solutions that offer affordability as well as lifestyle appeal, to everyone from young professionals to first home buyers and property investors. The placement of these developments in niche areas, already serviced by more than adequate facilities, is creating a network of desirable locations within the north west region.
These current developments are taking a new approach to urban living, offering a total lifestyle package - in many cases at below market price - by way of building the population early and getting good residential traction into the developments, and therefore the region. The properties are exceeding the expectations of new buyers to the area, by providing community amenities such as health, recreation and leisure facilities. The focus of these developments on complete lifestyle offerings, not only appeals to buyers for the immediate term, it also offers them something most investors don’t specifically look for when purchasing – a future home.
The dream of harbour views can be a difficult one to let go of, but such incredible investment opportunities, within an hour of the CBD are also hard to resist. Timing is everything and as the north western Sydney region goes through its construction and development phase, properties remain more than affordable in the short term, for everyone from first home buyers to longer term investors. As the major properties and projects reach their production milestones over the next decade or more, property value in north west Sydney is expected to see strong growth, and buyers could see themselves far exceeding any future investment dreams and lifestyle plans they had imagined for themselves. More importantly, whole new communities will be prospering and Sydney’s north west will become the city’s hottest new residential location.