Bankstown is 17km from the Sydney CBD, in Sydney’s Western suburbs.
Bankstown is comprised of a large proportion of units. Residex reports 51% of all housing is units, 10% is semi-detached and 32% are houses. 7% is commercial/other. Age mix for the area is 0 to 29 yo 45%, 30 to 49 yo is 28%, 50 & above is 27%.
According to Residex, Bankstown experienced market growth of around 16.5% from April 2015 to March 2020. Home buyers are attracted to its affordability and investors are attracted to its long-term prospects.
Bankstown is the end point of the new southwest metro train line with more frequent and faster services to the CBD.
Bankstown has its own share of great cafes and restaurants specialising in all forms of cuisine. Bankstown Central was for a long time the biggest shopping centre in Australia when it opened in 1966. It is set to become one of the largest precincts again soon with plans being submitted for a $2 billion redevelopment of the centre and construction of multiple towers on the current site. The current centre has all the modern amenities including a cinema complex and specialty restaurants and cafes.
Bankstown has multiple options for gyms when it comes to staying fit with all the usual suspects having locations in the area, Fitness First and Anytime Fitness to name a few. If sports are more your thing, then Bankstown city sports complex is a giant park that could more than accommodate your needs.
Bankstown has its own public school along with several specialty religious schools. It also has a number of government religious and private high schools close by.
Price growth in recent years has been good in Bankstown for units with prices increasing 12.8% in the five years to now and 19.5% for houses. Residex notes Only 0.48% of properties in the suburb are currently on the market with an average time of 33 days on the market.
Residex notes the median house price now sits at around $970,000. Median unit price is $486,000 in Bankstown.
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