Real Estate Prospect, NSW, 2148 Blacktown

Thinking about buying in Prospect? Now could not be a better time, with a whopping 2408 properties either residential or commercial there's certainly plenty to choose from.

The average property price for this area is $1,556,000 with prices in this suburb ranging from $269,000 to $82,664,000.

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Prospect Real Estate Market Outlook

Consistent high demand relative to supply is a key feature in Prospect driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Prospect ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. The high percentage of professional people in Prospect classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. High density population in Prospect requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. High industry presence in the wider area is a double-edged sword. While local employment options are high, the presence of industrial buildings may negatively impact lifestyle perception. Demand from first home buyers and investors however ensures good price growth.