Two years ago, the real estate market in the Macarthur region was undergoing exponential growth. Demand was on a record high due to low interest rates, causing prices to skyrocket to keep up. People were on waiting lists to secure properties, but reports indicate that up to 90% of buyers in the region were investors.
This trend continued on through 2015 and 2016, and now prices are higher than ever before. However, heightened activity in the city centre of Sydney has caused the macarthur region to slow down by comparison. Statistics from realestate.com.au show that Oran Park Town has a median property price of $757,000. In 2012, the median property price in Oran Park was only $261,000. In just five years, prices have almost tripled, which is what has been slowing the market down in these rapidly expanding areas of Sydney’s South-West.
Although the real estate market in the Macarthur region has slowed down, it doesn’t mean that it isn’t growing. Properties are still selling fast, but not at the lightspeed pace they were a few years ago. Prices in Sydney are expected to continue to increase as well, driving more and more people to the western suburbs. The Macarthur region has proved itself to be a valuable yet increasingly expensive investment, but also much more expensive than it once was to homebuyers.