Bought suburban Sydney property for $1.16 million
Choosing Sydney city center as a place to settle is a new trend when buying Australian real estate. However, this trend seems to be shifting as buyers boldly pay more than seven figures to choose to live in areas far from the center, with house prices far exceeding neighboring suburbs, even on par with city areas.
Leppington is located about 50km from Sydney, once a semi-rural area, now growing at an astonishing rate. Domain’s latest house price report shows Leppington recording a median price of AUD 1,162,500, up 4.7% year-on-year and soaring 112.9% over the past five years.
According to RomicMoore Property’s Slavko Romic, the appeal of living close to the city no longer holds much weight for today’s buyers.
“Today the suburbs have full amenities, ready to meet all needs,” he said. “Now everything is available from the airport, Leppington train station, major shopping centres, schools, restaurants, cafes and jobs… living here is convenient without having to travel into the city centre.”
House prices in Leppington exceed those of some suburbs closer to the city, including Bass Hill, about 20km from the CBD, with an average price of around A$1,100,000, and Lakemba, less than 14km from the CBD, with an average price of A$1,096,250.
Some projects worth investing in Leppington: Dickson Road
“The price is similar to Bass Hill, you can absolutely own a dream house in a developed suburb, this makes Leppington attractive, full amenities with complete infrastructure connection, can easily move to shopping centers, schools, parks,…” according to Samuel Bortolazzo of Urban Real Estate Australia.
“Leppington is gradually becoming a satellite city. Here we can almost satisfy all the needs of residents.”
The suburb of Leppington is part of the state government’s south-west development plan, covering about 10,000 hectares adjacent to parts of south-west Sydney. According to Australian Bureau of Statistics data, Leppington’s population increased from 3498 in 2016 to 9423 in 2021, as buyers flocked to newly built homes in the suburb.
The reason not only comes from the attraction of new construction projects but also the birth of Western Sydney International Airport.
Chelsea Mifsud from LJ Hooker Leppington said: “The arrival of the international airport and the progress of construction over the past five years have reinforced people’s decision to buy a home in the suburb,” said Chelsea Mifsud from LJ Hooker Leppington. “As the development was revealed and many people visited because of the importance and value of real estate in the area.”
Western Sydney International Airport, scheduled to open in 2026, is located in Badgerys Creek, just 15 minutes from Leppington.
“If it goes into stable operation, it is expected that travel time to the airport in Mascot will take about 50 minutes,” Mifsud said.
The new airport was a draw for first-time home buyer Annabelle Veneracion in Austral – the neighboring suburb of Leppington. Veneracion shared that when she was looking for real estate in Leppington, real estate prices in Austral were more affordable for her.
The average house price in Austral is AUD 880,000, up 38.5% over the past five years. Veneracion bought a four-bedroom, two-storey house in Austral for AUD850,000.
“Austral is only two minutes from Leppington… and when I heard there was a new airport coming, I knew I had to buy because real estate could skyrocket even further,” she said.
See more: Villa project in Austral
Veneracion added that she also “rarely goes into the city.”
“Ed.Square is only 10 to 15 minutes away, I was here last week and the place is quite busy just like the city because of the crowds, the shops, the cafes…everything is so bustling,” she said.
Romic added that rising demand has made the suburbs an attractive option for investors.
“Distributing a lot of real estate, I noticed that investors from the eastern suburbs, buy projects here,” he said. “They are investing in larger land plots before planning because they see the potential for future growth.”
Source: SBS News. 2024. would-you-pay-1-16-million-to-live-50km-from-the-cbd-1262692
Disclaimer:
Article content is based on reliable information sources. However, the information herein is for general reference only and should not be considered official or complete. Use of the content and information on this website is the sole responsibility of the reader. We are not responsible for any consequences, damages or losses caused to readers or any third parties related to the use of information on this article or website, whether directly or indirectly.
Related articles
Treasurer Jim Chalmers officially announced the 2026 Australian Federal Budget, focusing on reforming the tax system and enhancing national security in the context of inflation and global geopolitical turmoil. Housing Policy Reform The government focuses on addressing the housing and tax system to support the younger generation (Millennials and Gen Z) through systemic changes. From […]
The Federal Government has officially announced its 2026-2027 budget, with reforms to Australia’s real estate, tax system and increased housing supply aimed at helping more Australians own their homes. Support home ownership and increase supply Australian property tax reform: Change regulations on negative gearing and capital gains tax (CGT) incentives. The changes are estimated to […]
The birth of the Metro West line is not simply a transportation solution; it is symbolic of Sydney’s transformation into a connected megacity. With a record investment of up to 27.3 billion Australian dollars, the project promises to unlock the potential for tens of thousands of luxury apartments, turning areas along the route into the […]