There are 10 key essentials that an area must possess for Terry Ryder to deem it as likely to be a candidate for the next hotspot location.

Part two City of Blacktown Real Estate Hotspot Hilton Parkes Real Estate

The City of Blacktown Real Estate ticks many of these boxes so this week we will discuss the last five criteria and how the City of Blacktown Real Estate meets them. This will give a good indication of the likelihood of growth in the area in the imminent future.

6. The Stayers

Terry Ryder’s definition of a “Stayer” is any location which maintains value through all stages of the cycle. They’re as likely to be a regional centre or an outer city suburb as a “prime” inner-city enclave. These places may not have shown the strongest growth in the last 12 months, but they will perform steadily over 5-10 years. Lalor Park in the City of Blacktown, another noted consistent performer, has a long-term growth rate (average annual growth in median house prices over 10 years) of 10% per year. Greystanes in Sydney, which consistently sells 70-75 houses per quarter, averages 8.5% per year in median price growth.

7. Education-Medical Infrastructure

It’s common for major medical and educational facilities to be located in the same area of our biggest cities. The presence of these complexes means many thousands of teachers, students, doctors, nurses and other professional staff are coming into these areas to work each day – and that translates into strong local demand for housing, both for purchase and for rental. The Westmead precinct in Sydney’s western suburbs has a major (and expanding) cluster of medical-education facilities, which impacts demand for City of Blacktown Real Estate.

8. The Ripple Effect

You can chart Sydney’s boom from 2013 to 2017 in this way. The areas that had high price growth first were those in the inner city. A year or two later suburbs a little further out were the ones with the highest growth. Finally, in 2016/2017, it was the outer ring suburbs with the most activity and high price growth. The city of Blacktown Real Estate has certainly seen growth on the back of this activity. For example, the median sales price for houses in Kellyville, NSW in the last year was $1,250,000 based on 471 home sales. Compared to the same period five years ago, the median house sales price for houses increased 85.2% which equates to a compound annual growth rate of 13.1%.

Similar figures were recorded for real estate in Plumpton. The median sales price for houses in Plumpton, NSW in the last year was $675,000 based on 80 home sales. Compared to the same period five years ago, the median house sales price for houses increased 77.6% which equates to a compound annual growth rate of 12.2%.Part two City of Blacktown Real Estate Hotspot Hilton Parkes Real Estate

9. Lifestyle Change

With the hustle and bustle of inner Sydney causing many families to look West, the lifestyle change has become a popular phenomenon for those looking for real estate in the suburbs of the City of Blacktown. According to Terry Ryder, the best lifestyle change locations are within 1-2 hours of a major city, have character homes and appealing streetscapes, and sit in attractive natural environments. City of Blacktown real estate fits all of the above criteria.

10. Job Nodes

Among many reasons why affordable areas often record strong capital growth rates is their proximity to employment nodes. The emergence of the City of Blacktown as a centre of economic and real estate growth has been influenced by the presence of education and medical facilities (always big job nodes) and proximity to the M4/M7 intersection. In 2015 the Blacktown LGA (Local Government Area) was the No.1 growth area in Sydney in terms of land values, according to the NSW Valuer-General.

The Blacktown LGA is part of the strongly-emerging Western Sydney economy, which will be greatly strengthened with the construction of the Badgerys Creek airport, associated infrastructure, and surrounding industrial precincts. The city of Blacktown’s qualification of these 5 criteria is great news for property owners in the area. The area could be the next “hotspot” as recognised by real estate investment expert, Terry Ryder.

Part two City of Blacktown Real Estate Hotspot Hilton Parkes Real Estate

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Source: Ryder, Terry.“How to identify real estate hotspots”. 2018. Ryder Property Research.