Suburb Profile Report for Harris Park NSW (2150)

Harris Park Unit: Median price $490,000, Annual capital growth 7.45%, Number of sales 90, Weekly median advertised rent $415

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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Source: CoreLogic

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Giving property investors a an unimpressive capital gain of 0.00% for the last year, Harris Park, 2150 is the 1112th highest performer in Australia in this respect.

Over the longer term, Harris Park has seen property prices show investors a 39.60% return over the last 3 years. This is worse than over the last 12 months

Vendor discounting in Harris Park is giving property investors an average Vendor Discount of around -4.49%. This puts suburb at number 211th in NSW when ranking the most discounted suburbs.

On average over the past year, suburb has had 7.50 sales per month, which equates to 90 per year.

Using the current median advertised rental of $415 and the average annual increase in value of a median property of 7.45%, investors should hope to achieve an overall return of 4.40%

YIP MAG Information supplied by:

YIP MAG
July 2015

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Demand is already heating up in this suburb, with units typically spending just 28 days on the market, and a healthy vacancy rate of 2.13%, according to Real Estate Investar. The median price of units in Harris Park is also considerably cheaper than neighbours Parramatta ($520,000) and North Parramatta ($508,625).Full summary
Harris Park: Underrated suburb with bright future
 
Parramatta may be on the minds of many investors, yet its neighbour Harris Park that also has a bright future. But let’s not kid ourselves. There are some top class amenities in Parramatta which residents of Harris Park love to take advantage of. Namely, the massive Westfield Shopping Centre, which is the fourth largest shopping centre in Australia.
 
Additionally, Harris Park has all the benefits of the Parramatta CBD, Parramatta Stadium and excellent transport options. The latter is only likely to get better in coming years as new transport infrastructure is put together including the WestConnex and the Badgerys Creek Airport.
 
In the suburb itself is a little shopping area on Marion St, plus it’s located very close to sought-after schools and universities. It is also a multicultural suburb that’s becoming especially popular with the Indian population.
 
Demand is already heating up in this suburb, with units typically spending just 28 days on the market, and a healthy vacancy rate of 2.13%, according to Real Estate Investar. The median price of units in Harris Park is also considerably cheaper than neighbours Parramatta ($520,000) and North Parramatta ($508,625).
 
There are many affordable units on Brisbane St, Alice St and Harris St which are within walking distance of railway stations, the Parramatta CBD and the Westfield Shopping Centre.
 
Most sought-after properties:  Apartments
 
Most common properties:  Apartments
 
Top amenities: Westfield Parramatta, Parramatta train station, Parramatta River, Westmead Public and Private Hospital, Cumberland Hospitals, Restaurants in Church street, Parramatta Park, Public and private school, Parramatta Swimming centre, Parramatta Stadium, University of Western Sydney, etc
 
Local industry and business: Major business and commercial centre. This is a large commercial and residential area and has been acknowledged at the administrative centre for the Greater Wester Sydney. Many government agencies based here and the headquarters for many businesses. 
 
Public transport: Buses, Train and Ferry
 
Main arteries: Great Western Hwy, James Ruse Drive, M4 Western Mwy
Close
HOUSE UNIT
N/A $490,000
N/A -0.10%
N/A 0.00%
N/A 7.45%
N/A $415
N/A 90
N/A 4.40%
N/A 58.16

Source: CoreLogic

DSR Score for property investment : Good (U), Balanced (H)
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Demographics
Total population 5071
Median household income ($/weekly) 1114
Median age of persons 30
Median housing loan repayment ($/monthly) 1576
Average household size 2.6
  • Census Count Percent(%)
    0-4 years 433 8.5
    5-14 years 404 8.0
    20-24 years 448 8.8
    25-34 years 1880 37.1
    35-44 years 702 13.8
    Others 1205 23.8
    Age Group
    Census Count Percent(%)
    Registered Married 2020 52.7
    Not Married 1703 44.4
    Defacto Relationship 109 2.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 1104 23.6
    Croatia 236 5.1
    Indonesia 2026 43.4
    Malaysia 166 3.6
    Other 550 11.8
    Others 590 12.6
    Country of Birth
    Census Count Percent(%)
    Christianity 1285 28.1
    Hinduism 1874 41.0
    Islam 505 11.1
    Other Religious Groups 334 7.3
    No Religion 438 9.6
    Others 132 2.9
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 176 11.0
    $800-$999 168 10.5
    $1,000-$1,249 184 11.5
    $1,250-$1,499 182 11.3
    $1,500-$1,999 214 13.3
    Others 680 42.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1516 39.8
    Not in the labour force 1239 32.5
    Employed, worked part-time 718 18.8
    Unemployed, looking for work 227 6.0
    Employed, away from work 112 2.9
    Person Characteristics
  • Census Count Percent(%)
    Professionals 459 19.6
    Technicians & trades workers 245 10.4
    Clerical & administrative workers 332 14.2
    Machinery operators & drivers 256 10.9
    Labourers 350 14.9
    Others 704 30.0
    Occupation
    Census Count Percent(%)
    Infants/Primary 256 22.6
    Secondary 160 14.1
    Technical or Further Educational Institution 198 17.4
    University or other Tertiary Institutions 319 28.1
    Other type of educational institution 149 13.1
    Others 53 4.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 3980 85.3
    Separate house 507 10.9
    Semi-detached, row or terrace house, townhouse 169 3.6
    House or flat attached to a shop, office 8 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1183 69.6
    Being purchased 316 18.6
    Fully owned 186 10.9
    Other tenure type 14 0.8
    Tenure Type
Census 2011, ABS
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