Question 1

Is Sydney Olympic Park a nice place to live?

Accepted Answer

Sydney Olympic Park is a purpose-built riverside suburb and events precinct centred on parklands, wetlands and waterfront promenades around Homebush Bay and the Parramatta River. Large sports and entertainment venues sit alongside a compact village of cafés, restaurants and shops, so day-to-day life sits alongside concerts, festivals and regular sporting fixtures. Housing is mostly modern apartments with some townhouses and waterside developments, attracting young professionals, downsizers and families who favour active outdoor living. Bicentennial Park, walking and cycle paths and a dedicated train station with event transport services make getting around straightforward.

A long-term government master plan is guiding further growth, with capacity for about 15,000 homes and up to 26,000 jobs and minimum 5% affordable housing targets. The plan also earmarks new community uses such as playgrounds, schools, a cultural centre, library and sports fields, while major transport upgrades are under way or planned, including a future metro station and light rail stops within the precinct.

Question 2

Is it expensive to live in Sydney Olympic Park?

Accepted Answer

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Question 3

Is Sydney Olympic Park a good place to invest?

Accepted Answer

Unit rents in Sydney Olympic Park rose 5.2% over the past year, a solid increase in the income those units are earning. Over the same 12 months unit values fell 2.7%, a modest decline, so on the unit side rental income moved in the opposite direction to property values.

If rental income is your priority, the 5.2% rise is the figure that matters; if capital growth is what you want, the 2.7% fall in unit values is the relevant movement. Whether that balance fits your goals and circumstances is for you to weigh up.

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	N/A	$635K
Change in value Past 12 months	N/A	-2.7%
Sold Past 3 months	N/A	27
Median days on market Past 12 months	N/A	47
Average rent Past 12 months	N/A	$810
Change in rent Past 12 months	N/A	5.2%

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