Hot suburb = Parramatta?
If you have had a chance to read our story on ‘nine indicators of property success’ and applied the indicators to suburbs across Australia, you will find Parramatta is an example of a suburb that’s so hot, it’s on fire.
The combination of political focus at all levels of government, coupled with population expectations fueling an extreme demand for increased infrastructure are all pushing Parramatta to step further into the light.
Infrastructure and related activity include:
- expanded and upgraded hospital precinct including the Westmead Millennium Institute
- zoning and planning regulations adjusted to facilitate high rise buildings
- announcement of the light rail route connecting Westmead through to Strathfield via Olympic Park
- expansion and upgrading the ‘inner city’ precinct including the recently released design for the new Town Hall / Parramatta Sqaure
- cleaning and development plans for the river (includes visions for a beach)
- zoning changes relating to the ‘New Parramatta Road’ precinct
- campaigning for a fast train link between the Western Sydney Airport, Parramatta and Sydney city precinct
- Riverside Parramatta project – 74 storey mixed use tower with 600+ apartments and related parkland.
An area changing with such force offers opportunities for all levels of property activity – from well located units through to houses and commercial developments. This also includes opportunities for renovating, or splitting blocks to take advantage of increased density regulations.
For the bargain hunters, start from the centre of Parramatta and work your way out in a ripple footprint to locate opportunities at your price point and property type. This will mean you will stray into surrounding Council areas, however they are all pro-development (some more controversially than others . . hello Auburn).
Buy smarter = limitless ways to build lifetime income
Crave Property Advisory is a unique property strategy and buyers agent service. As the only independent and unbiased advisory that can help you use any property strategy Australia-wide, Crave’s services extend to home, investment and commercial property. A highly client focused organization, Crave developed the Modular Investing System (MI System) to provide clients with the ability to use a tailored mix of strategies and efficiently build profitable portfolios that create lifetime income.
Debra Beck-Mewing is the CEO of Crave Property Advisory, and has more than 20 years’ experience in property investing, Australia-wide. She has used a range of strategies to build her property portfolio including renovating, granny flats, sub-division and development. Debra is skilled in identifying development opportunities, and sourcing properties that have multiple uses and multiple exit strategies. A licensed real estate agent, Debra also holds a Bachelor of Commerce and Master of Business.
Disclaimer – This information is of a general nature only and does not constitute professional advice. We strongly recommend you seek your own professional advice in relation to your particular circumstances.
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