There’s a new entrant to the top 10 locations for New South Wales first home buyers, according to the latest property report.
Prop tech firm InfoTrack has released its Property Market Update Q1 2024, naming the suburbs with the highest volume of sales to first home buyers from 1 January to 31 March 2024.
Making the list was newcomer postcode 2142 which covers Blaxcell, Camellia, Clyde, Granville, Holroyd, Rosehill, and South Granville. It just made it into the Top 10, at ninth position.
The report further found postcode 2760 which covers seven suburbs – Colyton, Oxley Park, Ropes Crossing and St Mary’s – experienced an explosion in popularity, named in first position in Q1, up from ninth last quarter.
InfoTrack’s Head of Property Australia, Lee Bailie, said there was a lot of movement in Q1, but Greater Western Sydney continued to dominate the list.
“New entrant 2142 has never appeared in the Top 10. We have seen consistent growth in sales figures with particularly strong results in February and March this year. Median house prices in this location have jumped 6.32% from Q4 2023 to Q1 2024” Mr Bailie said.
We saw another two postcodes named in the Top 10 which didn’t appear in the last quarter of 2023. In second position, was postcode 2200, covering Bankstown and surrounds.
“Similarly, in sixth position was 2762, covering Schofields and Tallawong, which previously made the list in Q3 2023,” Mr Bailie said.
Along with 2760 and 2200, InfoTrack’s report showed postcodes 2145 (Greystanes, Wentworthville, Westmead, and surrounds), 2560 (Campbelltown and surrounds), and 2148 (Blacktown and surrounds) rounded out the top five.
“The State Government has been boosting local investment across West and Southwest Sydney, and with commutable distances, extensive infrastructure, and greater affordability, first home buyers are continuing to see the benefits of living and owning this location.”
Mr Bailie said there was only one location outside of Sydney which made the top 10.
“Postcode 2250, which includes several suburbs in and around Gosford, has cemented its status as a property hotspot, with the postcode coming in at eighth position after also being named a popular choice in Quarter 1 and Quarter 4 of last year.”
Strata properties retained a 49 per cent share of property sales, consistent with Q4 2023.
The full report can be viewed here.
