Quakers Hill, located in Sydney’s West, is set to perform strongly this year after new research flagged the suburb as a “significant growth corridor”.
According to Laing+Simmons Quakers Hill principal Lyndell Pilkington, the new report has the suburb of Quakers Hill in prime position to take advantage of the strong buyer interest from investors and young families alike.
Real Estate Business’s sister publication, Smart Property Investment’s, inaugural Fast 50 Report highlighted Sydney's West as one of the most significant growth corridors in the year ahead with Blacktown, Penrith and surrounding suburbs in particular, primed for growth.
“Historically, Quakers Hill’s low vacancy rates and rising rents have continued to catch the eye of astute property investors,” Ms Pilkington said.
“Added to this is the convenience of being located in close proximity to the M7 and M2 and on City Rail’s Western and Blue Mountains lines. The upgrade to train stations at Schofields and Quakers Hill, which now has a large free car park, has certainly added value to the area for commuters, who are being encouraged to take further advantage of fast trains to the city.”
“Quakers Hill has benefitted from being only five minutes away from Norwest Business Park, and the huge success of The Ponds, which continues to attract people who are looking to build,” she said.
“The new suburb has proven a strong growth trigger for neighbouring suburbs like Quakers Hill, which also offers a range of properties and larger blocks at affordable price points, even with house prices increasing by six per cent in the last 12 months.”
Ms Pilkington said the Quakers Hill rental market is extremely tight with Quakers Hill having only 43 properties currently available for rent from close to a 1000 rentals. The average weekly rent is approximately $450.
Ms Pilkington’s prediction reaffirms comments made by Starr Partners chief executive Douglas Driscol in an article by Real Estate Business in early December of last year, which predicted Western Sydney property prices would surge in 2012.