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Sydney suburbs on the up

First-time buyers are bringing up the value of previously neglected areas in Sydney.

With competition for living space in Australia's largest cities driving up rental and purchase prices, buyers are increasingly flocking to new areas previously thought to be run down and undesirable.




A recent report on the state of property prices across the country had indicated that prospective buyers may have to look as far away as 20 kilometres from major city centres before house prices dropped to national average levels, but a recent spate of purchases in suburbs such as Ingleburn and Macquarie Fields could soon change all that.




Both areas have been included in the recent Fast 50 report by Smart Property Investment, which lists the country's top emerging residential markets.




The influx of new buyers to these previously ignored suburbs is likely to result in widespread regeneration throughout both areas, resulting in a long term revival of the real estate sector in these zones.




Prices in the suburbs are currently much cheaper than in other parts of the capital, which is why they could soon a hotbed of activity for first-time buyers.




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