Located in the south-west of Sydney, about 31km from the CBD, Canley Heights is a growing family area with a strong migrant population.
According to ABS estimates, the area’s population grew 5% per annum in the four years to 2009. Meanwhile, at the 2006 Census, 57.9% of residents were born overseas and 27% of these were born in South-East Asia.
These figures are similar to those of Canley Heights’ neighbouring areas, with the nearby suburb of Cabramatta known to have the largest Vietnamese community in Australia. However, with the median house price being around $60,000 higher in Cabramatta, Canley Heights ticks the box for affordability.
In terms of amenities, Canley Heights is well equipped for young families, with a primary school located in the area and the Endeavour Sports Reserve sitting in the northern parts of the suburb. The Cumberland Highway also runs through Canley Heights, making it a 45-minute drive to the city, and the nearest CityRail station is less than five minutes away in the neighbouring suburb of Canley Vale.
The Professionals Canley Heights principal Phong Nguyen says the appeal of late-night shopping facilities and restaurants has brought many people into the area.
“People are willing to pay a little bit extra over the market value to be close to these,” says Nguyen.
According to SQM Research, the suburb’s rental market is strong, with renters making up 34% of the market in 2006. Meanwhile, vacancy rates have consistently been below 2% over the past five years, according to SQM Research figures.
Nguyen recommends investing in houses rather than units to earn the best returns.
“If they are looking at Canley Heights, then they are probably looking at anything off Canning Vale Road and maybe a few streets behind it. A bit further down the creek, you might be able to invest too,” he says.