PHOTO: Sydney, Australia
Prices in the NSW capital may have soared over the past year, but if you know where to look, the city still offers opportunities to lock down a three-bedroom home for half a million dollars.
The PropTech Group has looked at three-bedroom apartment sales across the city during the third quarter of 2021, pinpointing the most affordable suburbs for buyers in that segment.
“After nearly two years of a pandemic, people want more indoor space,” Joe Hanna, group chief executive and managing director of the PropTech Group, noted of the growing popularity of larger units.
“Anyone looking for a three-bedroom apartment will want to consider Mount Druitt, Carramar, Berala, and Ingleburn. In all those suburbs buyers were able to find three-bedroom apartments for less than a half million dollars,” he revealed.
And beyond those locations, Mr Hanna says their data shows it is entirely achievable to find a three-bedroom apartment around the $500,000 mark in Sydney.
They’ve released a list of the 10 suburbs with the lowest settlement prices for three-bedroom units sold in Q3 of 2021.
Mount Druitt – $429,950
Carramar – $490,000
Berala – $491,000
Ingleburn – $495,000
Campbelltown – $505,000
Werrington – $571,000
Merrylands – $590,000
Telopea – $596,000
Punchbowl – $600,000
Yagoona – $600,000
For buyers in the three-bedroom market, Mr Hanna advises getting comfortable with moving quickly.
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