NEW research has included Llanarth as one of the top 20 family housing markets in the state.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Well Home Loans commissioned the research, with CEO Scott Spencer saying that the purpose of the family suburb ranking is to provide valuable information for families planning their next purchase.
There are nine Sydney locations on the list and 11 in regional markets, with Llanarth coming in at 20th.
The top spot went to Horningsea Park, where the median house price is $853,000.
To be defined as a family suburb, the location had to meet five key indicators.
This includes a median sale price between $200,000 and $1.5 million, owner occupiers have to make up at least 70 per cent of the local population, freestanding houses must make up at least 60 per cent of the dwellings, more than 60 per cent must be family households, and it must have a SEIFA education score of at least six.
ALSO MAKING NEWS:
SEIFA (Socio-economic Indexes for Area) is a product developed by the Australian Bureau of Statistics that ranks areas according to relative socio-economic advantage and disadvantage.
Llanarth has a SEIFA education score of nine.
Raine and Horne Bathurst director Grant Maskill-Dowton said he wasn't surprised Llanarth was on the list.
"Llanarth has always been more tightly held than your other newer suburbs because it hasn't had the opportunity to grow," he said.
"You look at your Marden Estate, Laffing Waters, basically anything on the eastern side of the bridge, has had the rapid growth rate, therefore there is always properties for sale out there," he said.
"Up until recently there has always been land out there to build on, whereas Llanarth has really stopped growing in the last 12 months to two years, so the property that comes up there is few and far between and there is demand for it."
The parks in Llanarth and the suburb's proximity to schools make it an attractive prospect for families, Mr Maskill-Dowton said, and he expects the demand for housing there to continue.
Our journalists work hard to provide local, up-to-date news to the community. This is how you can access our trusted content:
- Bookmark www.westernadvocate.com.au
- Make sure you are signed up for our breaking and regular headlines newsletters
- Follow us on Twitter
- Follow us on Instagram
- Follow us on Google News
What do you think?
- Why not write us a letter to the editor ...