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News release

Sydney

Is Homebush the next Strathfield?

Boutique Homebush residence Loft announced to the market


With the expanding population and fast-paced growth of residential prices in the Strathfield Local Government Area (LGA), Homebush looks to be the next big suburb within the precinct.

According to JLL Research, the median price of apartments across the suburb of Homebush has grown by 6.8 per cent per annum over the five years to December 2014. Apartment prices in Homebush increased by 10.2 per cent in 2014 – significantly above the ten-year, long-term average of three per cent within the suburb.

The latest offering to the Homebush market is the boutique, luxury residence Loft, priced from $529,000. JLL's Director of Residential Project Marketing, Jason Soulos, is managing the sales process. The new one and two-bedroom apartments offer spacious proportions, private balconies and sophistic

Mr Soulos said over the past five years, one fifth of apartment sales across the Strathfield LGA have occurred within Homebush.

"Within the Strathfield area, Homebush is highly in demand – particularly within the younger demographic – due to a number of factors. The area is experiencing strong price and population growth, increasing its appeal. However it is still relatively affordable in comparison with surrounding suburbs, including Strathfield."

The median rent for an apartment in Homebush has grown by 3.1 per cent per annum over the past five years, while the gross rental yield for apartments stands a

"These factors are driving the younger cohort towards Homebush. Already, approximately 37 per cent of the suburb's population falls within the 20-34 year-age group. Reflecting its young demographic, the area has a high proportion of renters and smaller household types – including singles and couples without children.

"This supports strong demand for apartments, and suggests that the area will increasingly appeal to property investors seeking secure rental flows with rental growth potential," said Mr Soulos.

The population of the Strathfield LGA is projected to reach 45,650 in 2021, up from 32,750 as at the 2011 Census – reflecting an average annual increase of 2.1 per cent over this 10-year period. This exceeds the corresponding rate of population growth of 1.7 per cent per annum expected across the Greater Sydney region.

Located 15 kilometres from the Sydney CBD, within the cultural district of Homebush, home to Sydney's famous Olympic Park, Loft is moments to shopping, dining and transportation links. A family-friendly environment, the village is also within easy reach of a number of quality schools, hospitals and leading universities.    

Loft comprises a limited collection of one and two-bedroom residences. Each home features ample storage space, secure underground parking and direct elevator access.

Each residence has been carefully designed for maximum exposure to light and airflow, with open-plan spaces throughout and a neutral colour palette. Polished kitchens are built to cater for family meals or entertaining with guests and are appointed with the latest in Delonghi appliances, with glass splash backs and stone benchtops.

Loft apartments are built by Oxford Contract Builders – one of the best-licensed and qualified home builders in Sydney, with 25 years of experience.

Loft apartments are available now. Visit: ttp://lofthomebush.com.au