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