One of the worst performing suburbs of Australia when it comes to house prices is touted as a good place to invest by a real estate agent.
Baulkham Hills, in northwestern Sydney, has taken a dive of 11.3 percent in real estate values last year. CoreLogic data show that this is the third worst domestic housing market in the suburbs.
Nevertheless, Sturr Partners, Chief Executive Officer Douglas Driscoll, said that the proximity to the suburb of North Hill's upcoming North Hill, Castle Hill and Norwest makes it a great long-term investment, even if it was 27 kilometers from the city center.
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Baulkham Hills, one of the worst performing suburbs of Australia in the area of house prices, is touted as a good place to invest
Douglas Driscoll, CEO of Starr Partners, said the proximity of the upcoming North West Rail Link (pictured artist impression) made it an excellent long-term investment
& # 39; It's all pretty healthy. When I look to the suburbs, I look at large-scale infrastructure projects, & # 39; he said Thursday to Daily Mail Australia.
& # 39; It is one of those areas where people look around, are looking for value for money.
& # 39; They're going to watch Baulkham Hills and they're going to see an area where they're going, & # 39; You know what, it is not healthy, but you get so much more value for money.
Mr. Driscoll, whose real estate group operates in Sydney, Newcastle and the central coast, also advised an outer-western suburb at Blacktown, although prices there fell by 8.1 percent in the year to November.
Despite being almost 50 kilometers from the city center, Riverstone was recommended because it gets a new city center and is next to an important employment center
Sydney's top 10 suburbs for growth
1. Baulkham Hills, north-west
2. Riverstone, outside of north-west
3. Auburn, west
4. Brookvale, northern beaches
5. Maroubra, southeast
6. Eveleigh, inside-south
7. Waterloo, inside-south
8. Millers Point, city center
9. Castle Cove, lower north coast
10. Breakfast point, inside-west
Source: Starr Partners
Nevertheless, he said that a new city center near Riverstone, 48 km from the city, made this suburb a great buy.
"I actually expected Riverstone to rise earlier than it actually is," he said.
Riverstone is a suburb away from one of Australia's largest industrial and commercial areas in Marsden Park.
& # 39; In itself considered a work hub, & # 39; said Driscoll, who moved the distance to the central business district of Sydney, was no longer an obstacle.
Auburn, 24 km west of the city, was the murder capital of New South Wales in 2014.
Despite the stigma that he is a hotspot, Mr. Driscoll said that the suburb of the train station, where 43 percent of the population is Muslim, is becoming increasingly cosmopolitan.
Auburn, 24 km west of the city, was on the list as an increasingly cosmopolitan suburb with quiet streets
& # 39; I have seen it becoming more and more popular & # 39 ;, said Driscoll.
Australia is the least wanted
Ryde, northern Sydney, 12.1% lower
Melbourne to the east, down 11.7%
Baulkham Hills, northwest Sydney, 11.3% lower
Sutherland, southern Sydney, below 10.9%
Parramatta, western Sydney, 10.3% lower
Melbourne in the south, 9.4% lower
Sydney south-west, 8.5% lower
Hornsby, northern Sydney, 8.3% lower
Blacktown, the west of Sydney, 8.1% lower
Sydney in the west, 8% lower
Source: CoreLogic average house and apartment values, year to 30 November
Until recently, multiculturalism was rejected a bit, while it is now seen as a positive thing.
"Auburn in many ways becomes a microcosm of Australia as a people, really.
& # 39; Auburn has a lot to offer: beautiful quiet streets, the city center is a hive of activity, you have a number of different eateries. & # 39;
While Sydney's northern beaches are home to chic suburbs like Manly, nearby Brookvale has often been forgotten, despite being the home of the Sea Eagles' Rugby League team.
Average house prices here are also $ 150,000 to $ 180,000 cheaper than the neighboring Dee Why and Allambie Heights and there are plans to turn the light industrial area into a restaurant and a café district.
A new bus line to the city and the recently opened Northern Beaches Hospital in French Forest were also touted as value additions.
Brookvale, near Manly, is a forgotten part of the northern beaches that will get a new restaurant and a pub district
Maroubra, south of the more famous beaches of Coogee and Bondi, was also on the Starr Partners list, along with the inner-south suburbs of Waterloo and Eveleigh, near the chic Surry Hills.
Mr Driscoll said that it would be worthwhile to consider areas near more glamorous suburbs that had the potential to revitalize.
Slowly but surely Sydney becomes more cosmopolitan. It is slowly but surely becoming an international city and with that comes gentrification, "he said.
Starr Partners CEO Douglas Driscoll (photo) said that areas besides more well-known suburbs had more opportunities to gentrify, such as Maroubra at Coogee and Waterloo at Surry Hills