In the City of Blactown lie the Blacktown suburbs, a colorful hub known for its multicultural vibrancy and its full-package residential identity. It is a 35-minute drive away from the Sydney central business district, and is seemingly a whole, other world from the Central Business District’s buzz and energy. The Blacktown suburb is the largest in the whole New South Wales area. Characterized by big houses and beautiful mansions, it is also home to numerous business and entertainment spaces that caters to the locals’ every need.
Real Estate in Blacktown: By the Numbers
$732,750 is the median price for buying real estate in Blacktown, while the median rent price is $420 per week. Between $700,000 and $775,000, you can find three-bedroom home or even a four-bedroom property for the comfort of your whole family. By data, it is suggested that Blactown has an average demand from the market, with 331 visits per property. Blacktown’s current median price is roughly increased by 75% compared to the data of five years ago, amounting to an 11.8% compound annual growth rate. Based on over a thousand property rentals and 400+ sales, Blactown’s rental yield for the last 12 months is 3.0%.
(Data from Realestate.com.au)
Why Choose Blacktown
Purchasing and investing on a real estate in Blacktown is currently among the trends set by the foreign investors of today. It is a big hit among first-time home buyers, as well as cash-rich investors looking for an expansive mansion for a much affordable cost. The people living in the area are mostly established couples, starting families, and independent youth. As of the last census, there are nearly 50,000 residents in the area, with 5.4% of the total population coming from China. This multicultural hub is mostly known for bringing in families from all over the world with its enticing, relaxed lifestyle for families and the balance of nature and bright lights. With the thrilling Wet N Wild water theme park and the serene Chang Lai Yuan Gardens, residents here are free to explore the area and still be entertained by its various aspects.
Blacktown also has a number of notable schools for children, including the Coreen School which caters to children with learning difficulties, and the Tyndale Christian School, among many others. Family homes here are also large, and there are lots of opportunities for redevelopment. Mansions are much more affordable here too, the same with the smaller, individual apartment units.
The Blacktown central business district offers a wide array of shopping options, plenty of choices in restaurants, fun parks, cinemas, park reserves, and arts and library services.
All in all, Blacktown offers a chance to start anew for buyers, and the opportunity for investors to invest in an untapped, relatively under-the-radar market. With a colorful character built for sights and the calming green atmosphere of the neighborhood, it is quite certain that the market will pick up in no time, and that now is the time to invest while the prices are still low and much more affordable. And with a thriving local economy partnered with plenty of housing options to choose from, the demand is soon going to overpower the supply.
Other Popular Suburbs in New South Wales
Other Regions in Australia
Other locations in Australia are equally as desirable as New South Wales. Choose a region below to find out the best locations in the area. If you need information on the real estate buying process for foreigners in Australia, check our Foreign Investor's Guide.
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