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Is This Sydney's Last Affordable Suburb?

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Core Logic data has earmarked Werrington as one of the best value suburbs in Sydney to purchase property, with the median house price growing by 21.78 percent in 12 months.

The data also reveals that local industry heavyweights have agreed that housing affordability in Sydney’s western suburbs won’t last long – with one analysis by Finder.com.au recently finding that the number of affordable suburbs in Sydney had decreased from 12 to just one within the last year.

With nearby Willmot named as the only remaining suburb in Sydney where an average income earner could afford an average house, Werrington truly remains a local secret.

According to Ray White Director Dan White, Werrington is definitely a suburb to watch for, and he says people who believe in property have seen themselves amply rewarded this year, naming Werrington amongst his top picks in Sydney for growth potential.

“The benefit for Werrington is that it remains relatively unknown. Because of this, and the climate of the Sydney market at the moment, this is unlikely to remain the case for long.

"Those who purchase in Werrington now could potentially see the value of their investment grow significantly,” he said.

“Werrington has' already proven its growth potential with a rise of more than 20 percent in the last 12 months.

"It is also an attractive location for growing families, with local parks, childcare and amenities quite accessible," he said.

According to research company Charter Keck Cramer, Werrington showed the highest median house compound growth over a five year period, growing 11.7% from 2011 to 2016, ahead of neighbouring Kingswood (11.2%), Penrith (11.2%), Mount Druitt (10.7%), Deans Park (10.7%), Blacktown (10.7%), Greystanes (10.3%) and Kellyville (9.4%).

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Article originally posted at: https://https://theurbandeveloper.com/articles/sydneys-last-affordable-suburb