Defying the Downturn: Canterbury-Bankstown is set for Price Boom

Recent trends are indicating that Canterbury-Bankstown region will be among the few city regions set to defy the deepening housing slump, according to the Daily Telegraphs Real Estate Editor, Aiden Devine.

The most recent ‘Price Predictor Report’ by research group Hotspotting has clearly shown three quarters of the suburbs in the area are still recording price rises and increasing sales volumes, a precursor to price growth.

Factors expected to propel the price rises are the cheaper housing, good train links, changes in buyer priorities and a massive transformation in the local housing stock.

Home values across the region as a whole have risen 15 per cent over the past year.

This was a sharp contrast to the rest of Sydney where prices have been dropping over the past five months and the city median has become cheaper than it was a year ago.