Question 1

Is Greenfield Park a nice place to live?

Accepted Answer

Greenfield Park is a quiet, established suburb in south-west Sydney. Principally residential with single-storey brick homes on tree-lined streets and pockets of newer townhouses, it tends to attract families and long-term residents. Local shops and community activities reflect a multicultural character, and people use nearby parks and sporting fields for recreation. Public buses link Greenfield Park to surrounding centres and there is straightforward road access to larger commercial hubs.

It has 5,394 people, a median age of 38 and a median household income of $1,477 a week. Most homes are owner-occupied (69.5%) while 30.5% are rented, which contributes to its settled feel. The Greenfield Park Community Centre provides a local venue for activities and bookings, and there are no significant new public infrastructure or civic amenity projects. Whether Greenfield Park suits you depends on whether you value an established suburb of families with local amenities and good road and bus links.

Question 2

Is it expensive to live in Greenfield Park?

Accepted Answer

At a median house price of $1,437,500, buying in Greenfield Park works out to about 18.7 times a typical local household's annual income as recorded at the last Census, which sits well above local incomes. Looking at renting, a house rent of $680 a week would take about 46.0% of a typical local household's weekly income at the last Census, a large share, while a unit rent of $550 a week would take about 37.2%, a sizeable share. On these figures, renting still takes a significant portion of local income, but buying is the more stretched option against what households earned at the last Census.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Greenfield Park a good place to invest?

Accepted Answer

House values in Greenfield Park rose 20.0% over the past 12 months, a strong increase in what houses are worth. Over the same period, house rents fell 5.9%, a solid decline in rental income, so the house market has shown capital growth while rental income moved the other way.

If you are weighing Greenfield Park as an investment, the 20.0% lift is the figure that speaks to capital growth and the 5.9% drop in rents is the figure that speaks to rental income. Which of those matters more will depend on your objectives and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$1.44M	N/A
Change in value Past 12 months	20.0%	N/A
Sold Past 3 months	12	1
Median days on market Past 12 months	44	N/A
Average rent Past 12 months	$680	$550
Change in rent Past 12 months	-5.9%	N/A

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