Camden suburbs buck downward real estate trend

Harrington Grove continues to buck real estate trends. Picture: Kayla Osborne
Harrington Grove continues to buck real estate trends. Picture: Kayla Osborne

Property prices across Sydney continue to fall, but nine Camden suburbs have bucked the downward real estate trend.

Last year property prices across Sydney fell 10.5 per cent, however Harrington Park, Camden, Camden South, Oran Park, Cobbitty, Elderslie, Gregory Hills, Mount Annan and Spring Farm have increased median property price.

New statistics from Hotspotting has revealed property prices across these suburbs have risen between two per cent and eight per cent over the past 12 months.

Camden registered the highest growth in median house price with eight percent from March 2018 to march 2019.

Harrington Park experienced a seven per cent increase, while Oran Park's median house price has risen three per cent over the past 12 months.

Harrington Estates - developer for Harrington Grove, Harrington Park and Catherine Park Estate - and Greenfields Development Company, developer of Oran Park Town, have worked closely together for many years to ensure the long-term success of Sydney’s south west.

Harrington Estates managing director Terry Goldacre said developers in Camden were committed to investment in the region regardless of the state of the wider Sydney property market.

“Western Sydney is positioned to become a standalone city to Sydney, with residents in the west having everything they need conveniently located close to home," he said.

"These factors are the drivers behind south-west Sydney’s steady property market, and buyer interest remains strong.

"One of the key reasons why property value in the south west remains strong is the array of major infrastructure projects being built across the region.

"From upgrades to major arterial roads, new train stations and lines as well as new business parks, retail centres and public access areas, south-west Sydney’s infrastructure network is driving population growth in the region."

Mr Goldacre said the future airport would also have a profound affect on growth across the region.

“In 2026, Western Sydney International Airport will open and the Aerotropolis that we are already starting to see, will drive business opportunities the likes of which have never been seen outside a major city," he said.

“People are moving to the Camden because they no longer need to live near Sydney to be successful."

Greenfields Development Company is currently building a six-storey commercial building as part of the new Oran Park Town Centre.

Greenfields property general manager Mick Owens said this was just the first of a number of commercial buildings planned for the region.

“We’ve had strong interest for this new commercial building, some of which has come from international companies,” he said.

“The town will keep growing over the next 15 years. It really is about creating a complete, self-contained town.”