Sydney’s undervalued suburb

39 Boronia street, Granville, Sydney

FOR SALE at $440,000: 39 Boronia street, Granville, Sydney

Located west of Sydney’s CBD, Granville’s median house price of $390,000* is relatively inexpensive for a location that is within the 20km benchmark from the CBD.

Property prices in the suburb has been growing at an average of 7.2% over the last 10 years with approximately 45% of all dwellings within the suburb designated as rentals. The median weekly rent of $380 gives investors a respectable return of 5% per annum.

Investors or home buyers alike would be wise to consider:

  • Locations within walking distance to parklands such as Granville Park, Mona Park, retail shops, restaurants and Granville or Clyde train stations.
  • Older properties on larger blocks of land with potential for future upgrade.

Why I like this suburb

  • A mere 3km to heart of Parramatta metropolis in Sydney’s west.
  • Convenience of retail, commercial facilities, cafe and restaurants.
  • Good public transport facilities with Granville and Clyde train stations located within the heart of the suburb.
  • Potential upside for capital growth over the next 5 – 10 years as overcrowded areas in the inner west begin to move further west of Sydney.

*Source: RP Data – median price for 12 months to May 2010

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