Postcode 2160 reigns as top choice for New South Wales first-home buyers

The new entrants

2160 made a noteworthy appearance in InfoTrack’s latest Property Market Update, securing the number one spot among the top 10 postcodes for first-home buyers. This is a substantial leap, considering the postcode was not listed in Q1 2024 and has since gained significant popularity. According to data from realestate.com.au, the median house price in postcode 2160 is $1.2 million, reflecting a growth of 14.3% in the last 12 months. The median price for units and apartments is $480,000, with a 2.1% increase in the last year. However, the median unit price has dropped by just over $50,000 in 2024 compared to figures recorded between November 2020 – October 2021.

Encompassing the suburb of Merrylands, several factors contribute to 2160’s rising popularity:

• Convenient location: proximity to Parramatta.
  
  
• Enhanced accessibility: major employment hubs like Parramatta and Sydney CBD are easily reachable, with the city on average a 45-minute train journey from Merrylands.
  
  
• Diverse property options: the area offers a variety of property types, from standalone houses to apartments.
  
  
• Abundant amenities: a wide range of amenities, including shopping centres, parks, schools, cafes and restaurants, and healthcare facilities, ensure a comfortable and convenient living environment.
  
  

While multiple postcodes have remained consistent from previous quarters, 2140 (Homebush), 2770 (Mount Druitt), 2155 (Kellyville) and 2217 (Beverley Park) are new entrants that have joined the top New South Wales postcodes for first-home buyer’s for Q2 2024. These areas also offer attractive qualities, including transport accessibility, more affordable housing and a strong community focus – trends that reinforce growing interest in these postcodes.

Consistency in top choices

Several postcodes have consistently remained popular among first-home buyers over the first half of 2024. Notably, postcodes 2560, 2145, 2170 and 2150 have maintained their presence in the top 10, indicating sustained demand and desirability in these areas. Postcodes 2145 and 2150 have been strong contenders and consist of neighbouring suburbs connected to the newly popular postcode 2160. The rise of 2160 is likely influenced by the ongoing popularity and growth of 2145 and 2150, as its proximity to these sough-after areas makes it an attractive option for first-home buyers.

Lee Bailie, Head of Property Australia at InfoTrack said, “Greater Western Sydney has consistently dominated the top 10 postcodes for first-home buyers in New South Wales, as seen in previous Property Market Updates. We have observed interesting trends and seen notable shifts in popular postcodes so far this year, especially in the second quarter.

Merrylands (2160) has emerged as the top choice for first-home buyers, which is a significant jump considering it is a new entrant this quarter. Additionally, four new postcodes have entered the list, indicating an evolving market landscape.”

You can uncover more trends in InfoTrack’s latest Property Market Update here.