Professionals Real Estate 
INVESTORS could be set to turn to the South West Sydney suburb of Lakemba with the area set to be the next suburb to be swept by the city’s gentrification wave.
With experts in Deloittes Australian Mortgage Report 2018 tipping refinancers and upgraders to be leading the home buying market in coming years, developers are tipping the multicultural mix of Lakemba which will provide an added lure to homeowners looking for an opportunity to settle their families.
Infill developments appear to be set to be the driving force behind Lakemba’s rise.
According to Branko Dragicevic of BBM Developments buyers are keen to maximise their purchasing power in the Sydney market.
“People are leading busy lives so they are happy to live on a smaller site but they still value space in their homes and having a small garden area to relax in,” he said.
” Lakemba sits right next door to Belmore where property is about 20 to 25 percent more expensive.
“Lakemba is a real sleeper suburb. It’s slowly being gentrified and immigration has bought a real vibrancy to the area’s retail trade.
“People who move here love that thriving 24/7 feel to their trading.”
Mr Dragicevic said his company strived to build product that felt as close to the heritage feel of the area they were developing.
One example is the company’s townhouse complex at 111 Yangoora Road, Lakemba, which consists of four homes ranging from three to four-bedrooms each.
Mr Dragicevic said by giving the development a heritage feel and by using high quality materials, the company was comfortable the homes would appeal to a range of buyers.
“We are seeing interest from families and investors,” he said. “Our indications are that the homes will offer a yield of 3.9 per cent which is very attractive to investors and the property is halfway between two train stations which is great for families looking for an easy commute.”
Agent Michael Sabongi, of Professionals Belmore, said BBM had gone out of its way to make the most of the site.
“The complex has basement carparking, which provides some of the largest townhouse garages I have seen,” he said.
“Each one has space for two to three cars along with considerable storage.
“The company has spared no expense inside either with all the homes offering caesarstone benchtops and tempered mirror splashbacks, built-in dishwashers and the latest appliances.
“There’s floor-to-ceiling tiles in the bathrooms, security intercoms for visitors, internal access to the basement parking and ducted two-zone air conditioning, alarms, gas and dryers.
“And with the homes ranging in size from 230sq m to 374sq m there’s plenty of space whether you are looking for the next step up for a growing family or are looking for a high-quality investment in a rapidly gentrifying area.”
He said prices on the homes started from $950,000 and ranged up to $1.1 million.
For more information visit www.professionalsbelmore.com.au or phone Michael Sabongi on 0448 419 008
