Parramatta. The city is a hot spot

Tim Lawless, national research director, of RP Data has nominated Parramatta as a real estate hot spot worth watching. “There’s a corridor stretching from Canada Bay out to Parramatta showing strong population growth, which translates into demand for housing. When you have a market like Parramatta that has decent multiple connections into the city via ferry, train and road, it should mean a good rental market, which is what investors look for,” he said in The Sydney Morning Herald. Michael McNamara, GM, of Australian Property Monitors, said because Parramatta was such a strong, diverse local economy “people like me see it as having a good amount of residual value”.