Will You Miss The Blacktown Boom?
Blacktown has indeed become a popular residential development area “bucking the down turn” with sales of property going strong and looking to continue that way. Blacktown has been a particular favourite of Positive Real Estate and it is a true fact we were advising our clients to invest in the area several years ago.
Since 2009, many of my clients have been investing in the residential district of Blacktown and we have released several low entry point deals which have offered clients a three tiered investment strategy. A low cost product with high rental returns (sometimes positively geared) and now they are sitting right in Sydney’s upswing cycle, so investors will capitalise on exceptional capital growth.
1 – Low Entry Point
2- High Rental Returns
3 – Capital Growth
The Key Investment Indicators Pointing Towards Blacktown
Residents enjoy an easy 10 minute walk to all major facilities within Blacktown, including Rail and Bus Interchange services, West Point’s new $300 Million Shopping Centre, Blacktown Hospital and TAFE College, Swimming Centres, Parks and Social Clubs. Blacktown is also rapidly growing City within Sydney’s Greater Metropolitan Region. Its current population of 287,000 expected to grow by 72% to 481,000, by 2036. The State Government along with private enterprise have invested hundreds of millions of dollars into its redevelopment and infrastructure – also driving growth providing an excellent incentive for investors.
Sydney Greater Metropolitan Region extends from Kiama in the south to Port Stephens in the north and west to the Blue Mountains. According to the Urban Development Institute of Australia, Sydney’s Greater Metropolitan Region accounts for 25% of the Nations value–added Gross Domestic Product and the City of Blacktown accounts for 20% of this region’s total Gross Domestic Product.
The vast and rapidly developing employment hubs of Norwest Business Park and Huntingwood are both only 10 minutes by car and 15 minutes by Bus. Residents also enjoy a 5 minutes drive to the recently opened M7, M5, M4 & M2 Orbital Expressway. Additionally Blacktown is located only 34 kilometres west of the Sydney CBD and is the administrative centre of the local government area of City of Blacktown. Blacktown is also the largest of any suburb or township in New South Wales.
The Blacktown Commercial Business District is located close to Blacktown railway station. Westpoint Blacktown is a major shopping centre in Blacktown. Finally Blacktown has many restaurants and bars. The Blacktown CBD features the following landmarks:
- Blacktown City Council corporate head office
- Blacktown Courthouse
- Max Webber Library -Blacktown City Council’s newly completed central library
- Blacktown Hospital
- Patrician Brothers College Blacktown
- Fairfax Community Stadium (Used by NSWPL team Blacktown City Demons)
- Blacktown Baseball Stadium (Baseball) 5,000 capacity(1,200 seated)
- Blacktown Softball Stadium (Softball) 5,000 capacity(1,100 seated)
- Blacktown Showground (festivals and cultural events/activities)
- Francis Park (Rugby League, Soccer and Athletics)
- Blacktown Aquatic Centre
- Alpha Park
Over the last several decades, Blacktown’s growth has been sustained and rapid, contributing to its present status as the most populous City in New South Wales, the third largest in Australia behind Brisbane City and the Gold Coast and the eighth fastest growing City in Australia.
I was looking at a recent article posted by Vikki Campion in The Daily Telegraph on March 12, 2011 where she exclaims, “ FORGET the fibro cottages and battling first-homebuyers – Blacktown is the new boom town as it tops Sydney’s real estate wish list. The western Sydney suburb is undergoing a renaissance as an upgrader suburb, recording record gains as the star of the Sydney housing market last year, with the most sales of any local government area.”
Campion reports, “As most of Sydney’s real estate sales flatline, Blacktown has been one of the few suburbs to rise in value and blitz last year’s sales figures. Property sales are nearly 10 per cent higher so far this year than 2010, when Blacktown was the most popular suburb in Sydney with 619 house sales reported. It recorded a December quarter 2010 median house price of $355,000 and latest RP Data figures reveal the median reached $400,000 for homes in January and $565,000 for land.
Keep an eye out for deals in Sydney’s West – only 30 odd kms to Sydney’s CBD, the area simply cannot sustain the low-priced entry points particularly with the suffocating undersupply of housing in Sydney.
Come along to one of our next Complimentary Property Investor Nights held in Sydney – to find out more.
Source: “City of Blacktown.” Wikipedia, Wikimedia Foundation, Inc. 26 March 2011