Starr Partners have absorbed Minchinbury’s Re/Max real estate office, just as the suburb sits on the cusp of a market “boom”.
Director Scott Edwards said clients have been eyeing off the suburb, with first-home buyers the most keen to move in.
Domain data shows the average age of Minchinbury residents is between 40-59, while a three-bedroom home costs $675,000 – significantly higher than nearby areas in Mount Druitt and St Marys.
“It’s a small suburb with a very tight community,” Mr Edwards said.
“Once you come in you tend to stay. There’s only 1600 homes but a lot of people are looking to get in.”
Mr Edwards, who has managed Starr Partners’ Erskine Park and St Marys branch for 15 years, said recent housing affordability reforms had led to a “more normal” market.
“We’re seeing a significant number of first-home buyers come through the area looking at houses under the $750,000 price point, which is a direct result of the stamp duty concessions,” he said.
“Anything in that price range is moving very quickly. Buyer interest in the area will continue to go from strength to strength, especially as nearby developments such as the Eastern Creek Retail Centre gain momentum.”
Minchinbury’s position near the M4 and M7 freeways was a factor in its popularity, Mr Edwards said.
He said projects like Western Sydney Airport would further boost house prices across the west.
Mr Edwards said a slowing Sydney property market meant there was “no better time to buy” for young people.
“There’s more stock and more time to spend looking for the right home,” he said.
“Banks are being a bit tougher and investors are being squeezed out of the market.”