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Sales 'booming' in Sydney's Inner West

Off-the-plan sales in Sydney's Inner West are soaring.

Sales of off-the-plan homes in Sydney's Inner West are booming, according to one property group.

Raine & Horne says Lilyfield, Dulwich Hill, Marrickville and Petersham are hotspots for affordable off-the-plan properties.

The increase is part of a wider trend seen in the Australian property market. Australian Bureau of Statistics data revealed that the number of finance commitments for new dwellings rose 3.5 per cent nationally in April 2013, the 14th consecutive rise since March 2012.

"While sales for off-the-plan residences have been steady in Sydney for the first half of 2013, we have been encouraged by a jump in confidence for new off-the-plan dwellings, especially in Sydney’s Inner West," says Angus Raine, chief executive officer of Raine & Horne.

Purchasers who buy into an off-the-plan development in the Inner West are making a sound investment for the future, according to the firm's Annandale sales consultant, Michael Montano.

"The Inner West is a fantastic region of Sydney that has seen periods of strong growth in capital values over the last decade," he said.

Posted by Craig Francis

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