Guest blog: 10 affordable Sydney suburbs for first time home buyers

By the resi financial blog team, 22 May 2014

Best suburbs in Sydney to buy in

10 affordable Sydney suburbs for first time home buyers

 

Becoming a home buyer is exciting, but all the considerations you have to factor in before writing a cheque will leave your head spinning. Things like value, location, style and size all come into play during your search, and for first-time home buyers one issue remains paramount – price.

We’ve scoured the state of NSW to find which Sydney suburbs house the most stellar steals. In terms of where to buy in in 2014, we’ve found the name of the game seems to be westward expansion. Factors we have used to determine which areas will boom in near future include population growth, housing demand, capital growth and household income levels.

We hope that this rough outline will give you a jumping off point as your search for your ideal home. As value is always fluctuating, it’s a good idea to do independent on research on the suburb you choose. Your local Resi branch can help you work out the real value of your chosen area and help you get the best deal.

 

1. Carramar

One of Sydney’s most affordable suburbs is located 30 kilometres west of the CBD. Carramar comes from the aboriginal word meaning “shade of trees,” and has become a hot spot for purchasing property, with the average median home selling for just more than $400,000.

2. Blacktown

NSW’s largest suburb is located 34 kilometres west of the city centre and is tipped to explode in 2014. Buying in the multicultural area of Blacktown is feasible for first time home buyers; home prices settle at $430,000 compared to the average median house price in Sydney – around $640,000.

3. Liverpool

Another west-side gem, Liverpool lies just 32 kilometres southwest of the CBD. One of the oldest urban settlements in Australia, this pocket has steadily been gaining popularity in the real estate world as buyers have begun looking to the borders of the heavily populated cityscapes.

4. Villawood

Buyers looking for a more residential feel just a stone’s throw away from the city will find solace in Villawood. Homes in this ethnically diverse suburb go for around $440,000.

5. Yennora

With an average home price of $442,000, Yennora is an affordable landing pad less than 30 kilometres from the hustle and bustle of the city centre.

6. Mt Druitt

What used to be one of the poorest suburbs in Sydney is gaining momentum as a buyer’s goldmine in 2014. Mt Druitt is located just more than 40 kilometres west of the CBD, with median house prices around at $399,000.

7. Rouse Hill

Infrastructure changes will benefit suburbs that skim the city this year, such as Rouse Hill. The new rail link to the northwest is set to boost real estate popularity and development.

8. Cabramatta

‘Cabra’ is 30 kilometres away from Sydney’s CBD. Known for its vibrant Vietnamese culture, the area is gaining traction amongst first home buyers. One of its attractions is convenience; the Cabramatta Railway Station is a main junction part of the Sydney Trains network.

9. Lethbridge Park

This suburb has seen a massive 7.8 per cent growth in median home prices in the last year. You could snap up a property in Lethbridge Park for around $256,000.

10. Hornsby

Terrific public transportation options make Hornsby a popular choice for first time home buyers looking to purchase in desirable area. Just 25 kilometres northwest of the CBD, average home price is $471,000.

 

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Categories: Guest blog, Sydney, TTFS