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Western Sydney popular with first-home buyers

InfoTrack’s, Property Market Update found that the top three postcodes for first-home buyers in the fourth quarter of 2023 were 2145, 2170 and 2141, which were spread across Sydney’s West.

The locations that have attracted the most first-home buyers included Constitution Hill, Girraween, Greystanes, Mays Hill, Pemulwuy, Pendle Hill, South Wentworthville, Wentworthville, and Westmead.

InfoTrack’s Head of Property Australia, Lee Bailie, said there were also a number of outer suburbs that have experienced growing demand for the first time.

“The postcode 2141, which encompasses four suburbs – Berala, Lidcombe, Lidcombe North, and Rookwood – has made an impressive entry, coming in in third position for its debut in the top 10 list,” Mr Bailie said.

He said other popular locations were are around the University of Western Sydney’s Kingswood campus including Kingswood, Cambridge Gardens, Colyton, St Mary’s and Oxley Park.

“It makes sense we are seeing a younger buying cohort taking up residence in this geographical location, with the university so close and with the recently opened WestConnex tunnel extension of the M4 Motorway,” he said.

“It’s also clever long-term planning – purchasing property in proximity to major roads and facilities like a university can be a smart investment for students or city workers seeking accommodation.”

Source: InfoTrack

The only location outside of Greater Western Sydney to make the list of in-demand suburbs was from the Central Coast, around Gosford.

“There are 24 suburbs which made up the postcode 2250, which was also named at number five in Q1 of 2023 but fell from the list in Quarters 2 and 3,” Mr Bailie said.

“The beach lifestyle, greater property affordability, and commutable distance to the Sydney CBD account for this surge in popularity for Gosford, Erina, Mount White, Peats Ridge, and Wyoming.”

The report also found a near-even split between apartments and houses for first-home buyers, with 47 per cent purchasing owner-occupied houses while 49 per cent opted for strata owner-occupied.

“Strata properties steadily climbed in popularity for first home buyers throughout 2023, from 46 per cent in Q1, 47 per cent in Q2, 48 per cent in Q3, and now 49 per cent share in Q4,” Mr Bailie said.

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Rowan Crosby

Rowan Crosby is a senior journalist at Elite Agent specialising in finance and real estate.