Get a property report and suburb profile for any property in Parramatta

Parramatta sits on the Parramatta River and functions as the commercial and civic heart of western Sydney, anchored by Parramatta Park and Old Government House. The centre mixes high-rise apartments with older terraces and federation homes in quieter streets, and offers cultural venues, riverside walking paths and public open space, alongside a busy retail and dining spine on Church Street and around Parramatta Square.

Home to 30,211 people with a median age of 32, Parramatta’s community is largely couple-based while renting is the dominant tenure at 71.8%. It is a major transport hub around Parramatta station with extensive bus links and river ferry services, and the light rail is now operating. With a renewed civic square, a new performing-arts venue and riverfront and theatre upgrades under way, Parramatta suits people after a lively urban base in the west, including professionals, families and students; whether it fits you depends on what you want from a suburb.

Housing costs in Parramatta 2150 look different for renters and buyers. With house rents at $730 a week and unit rents at $690 a week, those payments are about 35% and 33% respectively of a typical local household's weekly income at the last Census (weekly income $2,092), so renting would take a sizeable share of a typical local household's income at the last Census.

Buying is considerably more stretched against local incomes: the median house price of $1,459,444 is about 13.4 times a typical local annual household income at the last Census (well above local incomes), while the median unit price of $624,000 is about 5.7 times a typical local annual household income (somewhat above local incomes).

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

House values in Parramatta fell 10.0% in the past 12 months, a sharp drop in what houses are worth. Over the same period house rents rose 1.4%, a slight increase, so for house owners the year combined a decline in capital value with only marginal rental income growth.

Unit rents increased 4.5% over the year, a modest rise and stronger than the change in house rents, so if rental income is your main focus that movement is the more relevant one here. Whether that makes Parramatta the right investment for you depends on your goals 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.