RESIDENTIAL PROPERTY

Top suburbs attracting first home buyers

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FOR first home buyers, Marsden Park takes the number spot among New South Wales suburbs.

According to research and data by proprech firm InfoTrack, which followed purchaser behaviour over the past 12 months, Marsden Park, Austral and Oran Park are the top three most favoured suburbs for NSW first home buyers.

Additionally, the data confirmed a post-pandemic rush of homebuyer activity for the first quarter of 2021.

“In March 2021 we saw a 25% increase in first-home buyer activity in NSW. And a similar lift in November and December of 2020 last year. So it’s a really positive sign. What is promising is that first-home buyer activity is still 40% more active than in April 2020,” said John Ahern, CEO of InfoTrack.

Though April did see a mild decline in first home buyer activity, Ahem largely attributes this short 10% fall to the shorter month of April, due to the timing of public holidays.

Sitting at 53km from the SydneyCBD and with a median house price average of $829,000, Marden Park took first place.

“It has recreational parks, views of the Blue Mountains and access to a railway station, and that’s a common thing first-home buyers look for; a great place to live and access to infrastructure,” said Ahern,

While the number two suburb, Austral, sits 50kms south west of the CBD and has a median house price of $715,000.

“Austral is about $100,000 less than Marsden Park, but it has potential as the airport is going in next door and you’re able to build a larger house. Whether you’re buying or building a house in post-COVID times, people are looking for more space and they can get that in Austral,” added Ahern.

Following Austral is Oran Park, with a $742,000 median house price, Schofields with a median price of $855,000, Campbelltown with $623,000, Liverpool with $741,000, Wagga with $443,250, Greystanes with $870,000, Hamlyn Terrace with $650,000 and Gosford with $557,500.

Amongst the top 10, Wagga Wagga is the furthest out from the Sydney CBD at 459km, followed by Hamlyn Terrace at 112km and Gosford which is 84km from the CBD.

“What I’m seeing in relation to first-home buyer activity in today’s property market is that it’s at an all-time high, and I’m assuming that FOMO (fear of missing out) is the biggest driver,” Tom Panos, auctioneer and partner at Info Track’s Securexhange website.

First home buyers are continuing to enter the market, even with rising dwelling prices, aided by interest rates that are in many cases making buying more affordable than renting. I haven’t seen a significant trend in buying property outside of metro Sydney, apart from the central coast. First-home buyers are most definitely buying in the north west and south west suburbs of Sydney,” concluded Panos.

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