Young professionals and immigrants are among the rising number of buyers flocking to a western Sydney suburb for its affordable homes.
Not only does Blacktown have a median house price of $714,500 — well below Sydney’s $985,000 median — but the latest CoreLogic figures show its median unit price comes in at just $540,000.
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And with a whopping 327 unit sales in the past 12 months, there is proof that home seekers are jumping at the chance to own new apartments sprouting in the CBD.
Nurse Giecy Sharma, who grew up in the Philippines and dreamt of moving to Australia and buying a home, is counting down the days until construction starts on her new home.
The local resident bought an off-the-plan apartment in the 20-storey Inspire tower with husband, Puneet, when they were renting in 2016.
“I was driving past the display board and it caught my eye,” Mrs Sharma, 29, told the Blacktown Advocate.
“I had been looking for a property to purchase for a long time and this caught my eye due to the location because I am working at Royal North Shore Hospital, and this will be close to the train station,” she said.
Despite buying when the market was still hot, they paid $600,000 for a two-bedroom, two bathroom unit with a car space. It will be on the building’s 15th floor in Second Ave, which will have views from Parramatta to the Blue Mountains.
Mrs Sharma said while the home came in under budget, it was a relief to have found something for that price as units near her work had been far more expensive.
“We mostly searched in the western suburbs because that is where my family lives too … we are looking forward to moving in.”
The Merhis Living project is due for completion in 2021. Prices start at $425,000.
Marketing manager Anthony Aoun said it had been popular with migrants, most of whom came from India and the Philippines.
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He said Blacktown offered these newcomers and first home buyers “an attractive, more affordable alternative to its surrounding suburbs Granville and Westmead”.
Near shops, restaurants, schools and Blacktown Aquatic Centre, the $190 million building will have floor-to-ceiling windows and open common areas for residents.