Good buys still to be had

House hunters can snap up bar­gains in re­gion’s sub­urbs, de­spite grow­ing me­di­ans

Mt Druitt - St Mary's Standard (East) - - NEWS - Marissa Ge­or­gopou­los

MT DRUITT sub­urbs are some of NSW’s top property growth ar­eas, yet buy­ers can still snap up bar­gains there for $500,000 or less.

Wha­lan’s me­dian house price soared 21.6 per cent in the 12 months to July to $480,000, lat­est CoreLogic RP Data sta­tis­tics re­veal.

The fig­ure was al­most triple Sydney’s 8.7 per cent rise while Tregear, Emer­ton, Coly­ton, Mt Druitt, Black­ett, Leth­bridge Park and Ersk­ine Park ex­pe­ri­enced more than 10 per cent growth over the same pe­riod.

Re­search by property ad­vi­sory firm Char­ter Keck Cramer found Mt Druitt had one of the high­est com­pound growth rates be­tween 2011 and 2016. An­other re­cent study by Finder.com.au named Will­mot as the only re­main­ing “af­ford­able” sub­urb in Sydney.

Raine and Horne St Marys sales man­ager Peter Dia­man­tidis said that, de­spite the price jump, the Mt Druitt area was still “the cheapest place to buy”. “What’s hap­pen­ing now is ev­ery­one is out this way try­ing to buy an in­vest­ment or first home for un­der $500,000,” he said. “You can start off at that early $400,000-mark and get a ba­sic three-be­d­room house on about 580sq m.

“You start get­ting up around the high $400,000s for maybe a four-be­d­room house with a dou­ble garage or an in-ground pool.”

He said nine nearby sub­urbs, in­clud­ing Tregear and Emer­ton, had ex-pub­lic hous­ing homes built 40-48 years ago, which was why there was am­ple property.

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