South West Sydney primed for real growth

Sekisui House, the world's largest residential construction company, support the latest industry forecasting for growth in Sydney's south west region.

Sydney's property prices have increased by more than $350,000 in just three years.

However, Sekisui House's new development, The Hermitage at Gledswood, is offering homes well below Sydney's $1,013,000 median house price.

Their new, two-storey, turn-key homes are selling from $738,000.

The Hermitage is a 307 hectare masterplanned community which will include Gledswood Village, a mixed-use precinct spanning over seven hectares that will include residential, retail, commercial, leisure and entertainment opportunities and a primary school slated for 2020.

There's 120 hectares of golf course and a future Greg Norman designed and constructed course, scheduled to be playable in 2018, and 35 hectares of parkland and open green spaces.

Westpac highlighted a report that reveals the state government’s ‘First Home Owner Grant’ (New Home) and stamp duty concessions under the ‘First Home–New Home Scheme’ make purchasing in south west Sydney one of the most affordable areas in metropolitan Sydney for first home buyers.

Sekisui House project director Craig D'Costa said Gledswood Hills experienced a considerable price growth of 15.5 percent between 2014 and 2015.

“In the year since the South West Rail Link opened, demand for property within our development The Hermitage has increased dramatically," he said.

"As one of the NSW Government's 'Priority Growth Precincts,' south west Sydney has received a great boost thanks to several large public works programs.

"Key government works like the M5 widening, WestConnex and the new airport at Badgerys Creek have combined to create a tremendous investment opportunity in the southwest growth corridor."

D'Costa noted a recent shift in the buyer demographic in the last 12 months.

"It is fast becoming a preferred precinct destination for buyers from all over Sydney, not just residents already residing in the local South West region”.