Macquarie Fields, Ingleburn named as real estate hot spots


IT WAS once known for a riot, but now Macquarie Fields is a suburb people are battling to move to.

The suburb, and its next door neighbour Ingleburn, have made the top 50 hottest investment suburbs in Australia for 2013 by Smart Property Investment.

Macquarie Fields MP Andrew McDonald isn't surprised.

"It's the land of opportunity," he said.

"The area has enormous opportunities for families and it's good to see people recognise it.

"It's very different to what it was eight years ago.

"It has great transport, great schools and great sporting facilities and it has the best outside swimming pool in Australia.

"To stand outside in that pool on a hot day — you'd pay hundreds of dollars for that overseas."

Senior economist for Australian Property Monitors, Dr Andrew Wilson, contributed to the Smart Property Investment Fast 50 hot spot report and said Macquarie Fields was emerging as a solid middle class Sydney suburb.

"There were perceptions that the area suffered from low socio-economic problems, but people are having a second look and seeing the value," he said.

"It's been ignored, but Macquarie Fields and Ingleburn are growing faster than other Sydney suburbs."

The top 50 hot spots were based on factors including population growth, demand for housing, income levels, employment, vacancy rates, previous capital growth and current gross rental yields.

Local real estate agents have seen the area's developments first-hand.

"Good transportation and affordability are the two main ingredients people want and Macquarie Fields and Ingleburn have both," John Lagoutaris from Dunshea's Real Estate Ingleburn said.

"Rentals are in high demand for sure.

"A couple of years ago $340 a week was average, now it's about $400 a week for a three-bedroom place."

Russell Wyer, director of Richardson and Wrench Campbelltown and Ingleburn, said people saw the benefits in moving a little further south-west of the city.

"People see the value when they see a place in Macquarie Fields for $80,000 to $100,000 cheaper than East Hills which is only a few more train stations closer to the city," he said.

"And rental vacancies are below one per cent, whereas the rest of Sydney is typically two to three per cent," Mr Wyer said.