When talk of housing affordability in Australia arises, it invariably turns to Sydney... and it’s not pretty. The variables to the current market - such as inner-city suburbs investing in high-density living, and even the most dilapidated dwellings are worth their weight in gold - become a scare tactic to prospective buyers, and it can feel like there’s little point in trying to enter the market. But there’s a route to owning your home that is giving renewed hope to prospective buyers. We’re talking about house and land packages in burgeoning Greater Sydney and The Hills Shire suburbs; and at affortable price points for homes big enough to accommodate families, it’s a much-needed break away from the inner-city housing constraints.
The conversation around housing and the state’s capital is that it’s dire out there - housing prices are ever rising, the bubble won’t burst (but threatens to on the daily) and the median income can't keep up. In fact, Sydney was recently listed as the second least affordable city in the world (after Hong Kong) by the Demographia International Housing Affordability Survey, with house prices selling 13 times higher than the average household income.
But, there’s a saving grace on the horizon: the growth of Greater Western Sydney and The Hills Shire, and the availability of affordable home and land packages that are taking the pain out of purchasing.
The Domain Group’s State of the Market Report has named Camden the fastest growing suburb in NSW, with an estimated 150% population increase expected over the next 20 years. With plenty of affordable land options and new infrastructure - such as five new schools, a hospital upgrade and a Western Sydney Airport in place - it’s little wonder the region is on the rise. In fact, our Oran Park home and land plots are receiving significant interest for this very reason. Under the Camden municipality and at an achievable price point, it’s one of our most sought after packages.
Talking to Domain, Director and Co-Founder of First Home Buyers Australia, Taj Singh supported the idea that Camden and surrounding areas are a viable and appealing option for future home-owners. “We have seen a lot of clients enquiring about buying in the south-western pockets of Sydney; that is Liverpool, Camden and Fairfield,” he said. “They are swayed to those areas as a result of the infrastructure being put in place and the planned airport which will drive more jobs in the area.”
The Hills Shire is also taking off. According to social researchers McCrindle, the region is 10% larger than it was seven years ago, and is expanding at a rate faster than the national growth average. It's also a melting pot, with a higher-than-national average population of students, full-time workers, diverse cultures (3 in 5 have a parent born overseas), young families with school-age children (20% higher than the Sydney average), and a burgeoning demographic of those in their 40s, 50s and 60s. In short, there is no one demographic carving out an A-typical occupant, making it the perfect place to grow, thrive and evolve in your home and community throughout the years.
The growth of these regions has been a notable consideration for Clarendon as we navigate the ‘Where We Build’ and House and Land areas, with both accommodated for in our current and upcoming developments. After all, there’s no need to compromise on quality when joining the housing market. And, furthermore, you can find your new home in a booming area without sacrificing your financial freedom.