‘It has been my observation that most people get ahead during the time that others waste’ – Henry Ford
The critical component that drives Blue Wealth’s research methodology is the mantra that we must sustain the position of the ‘innovator’ – being one step ahead of the herd. What this typically means is that there will be negative sentiment on particular markets that we are operating within, because the herd are looking in the areas that we are finished with. The irony is, however, that the herd needs the innovator in order to take up a new market, and the innovator needs the herd to subsequently make him or her successful in that market when they all come rushing in.
Not too long ago, Parramatta projects were not considered a viable investment by potential purchasers due to certain stigmas associated with the area including distance from the Sydney CBD, traffic, crime rates and demographic profile, among others. Now, Parramatta paints a completely different picture.
Professor Edward Blakely of the University of Sydney reports that Parramatta has been named New South Wales’ best suburb by the Urban Development Institute of Australia. Riverfront development, increased participation from the University of Western Sydney and the University of New England, rail infrastructure, and CBD revitalisation are all contributing to Parramatta’s designation as Sydney’s second CBD.
The Blue Wealth Research Team has found that the median growth in Parramatta has been 14 per cent in the 12 months leading up to the present. That means a property worth $450,000 this time last year would today look more like $513,000. The herd are the ones paying this price, which has also created a decline in ‘time on market’ for Parramatta units over the same period. Blue Wealth’s 284 Parramatta clients are now enjoying a boost in equity, and may even decide to use this in assisting them to grow their portfolio further.
