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Sydney's Macarthur region tipped to boom25th February 2008 A new report has tipped the sprawling catchment of Macarthur in Sydney's west as the next big property hotspot, with research group RP Data describing the 3,000 square kilometre catchment as being "on the cusp of a boom". According to RP Data's most recent consumer study, 'The Insider Report', property investment opportunities in Sydney's Macarthur region "are rife". Comprising of three council regions, Camden, Campbelltown and Wollondilly, Macarthur covers 3,070 square kilometres of land area, and is an integral part of the NSW Government Metro Strategy for future growth. RP Data National Research Director Tim Lawless said the fundamentals are right for this area to take-off as one of Sydney's most promising regions for capital growth. "Despite the region having several suburbs that are affected by mortgage stress, it is well-placed to provided excellent long-term benefits for property investors," Lawless said. A further one million people are predicted to move to Sydney by 2030, he added, with Macarthur expected to gain an additional 130,000 resident over the next two decades. The year 2007 saw the greater Sydney property market increase in value by 7.4%, with the houses increasing by 5.9% and units increasing by 10.7%. The Eastern Suburbs were at the top of the market with a 24.5% increase, while values in Inner Sydney increased by 15.3%, Lower Northern Sydney by 19.4%, and the Northern Beaches up by 11.9%. While the inner city recorded strong growth rates in 2007, the outer regions experienced low levels of affordability and high levels of mortgage stress, with Outer Western Sydney increasing by just 3.2% in 2007. The Insider's Report suggested that the time to invest in the inner, eastern and north shore suburbs had already passed, as their 2007 rates of growth are unsustainable and, already, rental yields have been undercut by the high rates of capital growth.
myRPData Insider Reports © Your Investment Property. magazine. Reproduced with permission. To read more Investment news from Your Investment Property, go to www.yipmag.com.au or pick up a copy from your local newsagent today.
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