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Sydney's newsest suburb to meet...

Sydney's newsest suburb to meet demand

Construction of a suburb in Sydney is set to be completed ahead of schedule.

Construction of a suburb in Sydney is set to be completed ahead of schedule and will help to boost the city's housing supply.

Bungarribee, known locally as Bunya, is in the western area of Sydney and will offer more than 800 new units - many aimed at first-time buyers.

The Property Observer reports one in three purchases will be stepping on to the property ladder for the first time and demand is expected to be high.

Minister for planning and infrastructure, Brad Hazzard, said: "New Western Sydney housing is selling like hotcakes and Bunya is leading the charge."

He added: "Over 650 lots of the 820 have sold in under three years and demand for the remaining 170 lots is hotter than ever, with future residents visiting the sales office daily."

Prices for the properties range from $525,000 for a 400 square metre unit, to $630,000 for a 600 square metre plot.

Posted by Steve Douglas.

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