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Hawkesbury suburbs top choices for first home buyers in NSW

Jul 19, 2023

Parts of the Hawkesbury region have become some of the most sought after by First Home Buyers in New South Wales.

According to the latest quarterly property report released by InfoTrack, the postcode 2765, encompassing 13 suburbs including Vineyard, Oakville, Maraylya and Riverstone, has emerged as the top pick for First Home Buyers across the state during the period from 1 April to 30 June.

The data supports what Hawkesbury commuters are witnessing everyday – the rapid development of Sydney’s western suburbs to provide affordable housing. All the major roads to Sydney and along the train lines show a massive development led transformation of Western Sydney with row upon row of tightly packed new homes, devoid of greenery.

First home buyers are flocking to post code 2765 near Oakville and Maraylya.

The recent data also indicates a surge in property purchases within the Hawkesbury region, particularly in postcode 2765, which has experienced a significant fourfold increase in monthly purchase amounts from January to June. More than half (52%) of the properties sold in this postcode during the last quarter were priced between $500,000 to $1 million, indicating the affordability and attractiveness of the area to first-time buyers.

Owner-occupied houses have been the preferred choice among buyers, constituting 67% of all purchases in the region. This preference for spacious and self-owned homes reflects the shifting priorities of First Home Buyers, who are now seeking properties that offer greater value for their investment and a better work-life balance.

InfoTrack’s Head of Property Australia, Lee Bailie said, “The popularity of the Hawkesbury is reflective of the broader movement we are witnessing across the East Coast, where First Home Buyers are increasingly drawn to properties that offer better value for their investment. InfoTrack’s Quarterly Property Market Updates show a progressive movement to the outer regions of Sydney as more people seek larger land areas and proximity to parks and facilities, without sacrificing accessibility to transportation options.”

The region’s ascendancy to the top spot on the First Home Buyers’ list is not entirely unexpected, as it had already secured the third position in the previous quarter.Bailie said the rise of Hawkesbury’s suburbs as preferred destinations for First Home Buyers is a testament to the changing dynamics of the real estate market, fueled in part by the evolving work landscape. With the adoption of hybrid working models and reduced emphasis on daily commuting to the CBD, buyers are now prioritizing locations that offer a more fulfilling work-life balance.

“They’re looking for properties that offer a bigger area of land, and the Hawkesbury has this, as well as ample parks and facilities, but is close to transport options when needed,” Bailie said.

Former farmland and bush is rapidly being developed in Sydney’s north-west corridor as successive governments rezoned land for large housing developments. Ironically much of the open space, bush and paddocks used in their brochures to entice buyers to their developments no longer exists.

A list of new home packages on real  estate website realestate.com showed the average land size for plots selling in Oakville was about 336m2.

The InfoTrack report also highlighted the inclusion of two new entrants in the top 10 list of First Home Buyer hotspots across New South Wales. The southern Sydney suburb of Arncliffe (postcode 2205) and the inner-city suburb of Waterloo (postcode 2017) have made their mark, showcasing the diversity of choices available to prospective buyers.

For those interested in exploring the full report, it can be accessed here: Property Market Update – InfoTrack

 

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