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Property ownership has been a big topic of conversation across New South Wales – everywhere from news bulletins to dinner tables. That's only ramped up in the wake of recent Federal Budget announcements that affect things like negative gearing and capital gains tax. If you’re dreaming of carving out your own slice of property paradise, now might be the time to pay attention to these up-and-coming NSW hotspots. A wave of major infrastructure projects across NSW – from new transport hubs to urban renewal precincts and employment centres – is set to significantly transform several neighbourhoods over the next year. So, which suburbs should you be watching? Here's where the property pros over at RealEstate.com.au are saying you should keep an eye on...
1. Bankstown, South-West Sydney
Sydney’s bustling south-west hub is about to become more connected than ever thanks to the in-progress Metro line that will connect Bankstown to the CBD. When the new line finally opens, Bankstown passengers will reach Gadigal Station in just 30 minutes (a full 15 minutes faster than the old trip to Town Hall). Add to that a major redevelopment of the suburb’s shopping centre into a mixed-use precinct with offices, apartments and student accommodation, and it’s easy to see why experts are tipping strong growth. House prices are forecast to rise 5.9 per cent over the next year, while unit prices could jump 7.2 per cent.
2. St Marys, Western Sydney
Big things are happening in Sydney’s west. The future Metro line connecting St Marys to the Western Sydney Airport is expected to supercharge the suburb, with house prices predicted to surge 18.8 percent and units are tipped to rise 2.2 percent. As well as connection being easier, the station precinct will also be rezoned to make way for more than 9,000 new homes. While the Metro line is delayed, the new airport is due to open this October.
3. Port Kembla, Wollongong
Long known for its industrial roots, Port Kembla is gearing up for a new advanced manufacturing hub that’s expected to create around 30,000 jobs in the region, driving a projected 7.5 percent rise in local house prices. And despite the suburb's industrial vibe, Port Kembla Beach is also one of Newcastle's finest.
4. Broadmeadows, Hunter region
With plans to eventually become the primary station on the planned Sydney to Newcastle high-speed rail link, this small suburb is tipped for huge growth. With more than 3,000 new home builds projected in the next year, a 36.1 per cent increase in housing prices and 0.7 per cent in units is expected. These effects will also be felt in surrounding suburbs including Adamstown, New Lambton and Hamilton.
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