David Lao
906/23 Hassall Street, Parramatta, NSW 2150
Guide: $690,000-$730,000
2 2 1
Open Saturday 13 June 10:45 am🏛️ About This Suburb (Last Updated Date: 2026-02-26)
History, Aboriginal heritage, and the story behind the name.
Parramatta — Darug Country
Founded as the second European settlement in Australia to provide fertile land for farming to sustain the early colony. It served as the seat of government for early governors and remains one of Australia's oldest inland cities.
A high-energy metropolitan hub defined by a 'vertical' skyline, corporate headquarters, and a diverse multicultural population.
Overall Score
8
Strong metropolitan performance balanced by high-density supply risks.
Aboriginal Name
Burramatta— "Place where the eels lie down"
Name Origin
Derived from the Darug word describing the head of the Parramatta River.
Established
1788
Old Government House
Australia's oldest surviving public building.
Transport Hub
Major interchange for rail, bus, ferry, and light rail.
River City
Undergoing a multi-billion dollar riverfront activation.
📊 Scorecard
12 key dimensions scored 0–10. Each score includes a one-line explanation.
Market Momentum
7
Steady demand driven by infrastructure completion despite broader economic headwinds.
Amenity
9
Exceptional access to dining, retail at Westfield, and cultural precincts.
Schools
7
Home to high-performing selective schools and innovative vertical campuses.
Transport
10
Unrivaled connectivity with the new Metro West and Light Rail projects.
Risk Profile
5
Moderate risk due to flood zones and potential apartment quality issues.
Liveability
8
High urban convenience but lacks the quiet of traditional suburbs.
Demographics
7
Young, professional, and highly diverse population base.
Rental Demand
9
Extremely high due to proximity to commercial offices and Westmead health precinct.
Growth Potential
8
Significant long-term upside as the 'Second CBD' vision fully materializes.
Affordability
6
Relatively affordable compared to Sydney CBD but expensive for Western Sydney.
Crime & Safety
6
CBD environment leads to higher incident rates compared to residential fringes.
Walkability
10
A 'walker's paradise' where most errands do not require a car.
⚡ Quick Snapshot
Key metrics at a glance, plus your top advantages and watch-outs.
Unit Median
$685,000
Stable growth in 2025
Rental Yield
4.8%
Strong for investors
Pipeline
High
Many new towers planned
Metro West
20 mins
Target travel to Sydney CBD
Top School
Arthur Phillip
Vertical high school
Green Space
85ha
Parramatta Park nearby
✅ Key Advantages
- Unmatched public transport infrastructure including the new Light Rail and upcoming Metro West.
- Major employment hub with significant government and corporate relocations.
- World-class dining and entertainment at 'Eat Street' and the new Powerhouse Museum.
- Proximity to the Westmead Health Precinct, the largest in the Southern Hemisphere.
- High walkability with immediate access to Westfield Parramatta and regional parks.
⚠️ Key Watch-Outs
- Significant flood risk for properties located near the Parramatta River corridor.
- High volume of apartment supply can lead to suppressed capital growth for generic units.
- Ongoing construction noise and traffic disruptions from major infrastructure projects.
- Potential for high strata levies in complex buildings with extensive facilities.
- Pockets of the CBD can feel unsafe or overly congested during late-night hours.
🏘️ Suburb Overview
Character, property mix, price range and what drives value here.
🏙️ Character
Urban Professional
How this suburb feels day-to-day.
🏠 Property Types
Predominantly high-rise apartments with limited heritage houses on the fringe.
Dominant dwelling stock.
💰 Price Range
$550k – $2.5m+
Typical entry to ceiling.
💡 Why It Matters
Parramatta is no longer a satellite suburb but a primary economic engine. For buyers, it offers a lifestyle comparable to the Sydney CBD at a lower entry price, though selection of the right building is critical.
💰 Price Guide & Market Trends
Medians, rental market, 5-year history and property split.
🏠 House Median
$1,650,000
$1.4m – $2.2m
🏢 Unit Median
$685,000
$550k – $1.2m
📈 Price Trend
+4.2% past 12 months
12-month movement
🔑 Weekly Rents
Houses $780pw, Units $690pw
Current asking rents
📉 5-Year Price History
🏘️ Property Type Split
The market is heavily skewed toward units. House prices are high due to extreme scarcity and land value for future development.
🎯 Affordability
How this suburb compares to metro and state medians.
🏙️ vs Metro Average
32% below Sydney metro unit median
Price comparison
📋 Income Ratio
8.4x annual income
Median price ÷ median income
💳 Gross Yield
4.8% gross yield
Estimated rental yield
More AffordableModeratePremium
Entry levelMid rangePremium
While units are accessible for first-home buyers, the cost of living in a CBD and high strata fees can impact overall affordability.
🔥 Rental Demand
Vacancy rates, demand pressure, tenant profile, and investor outlook.
📊 Vacancy Rate
1.4%
Lower = tighter market
⏱️ Days to Lease
16 days
Avg time on market
📈 Rent Growth p.a.
+11.5%
Annual rental increase
Demand Level
Very High
👤 Tenant Profile
Young professionals, health workers from Westmead, and international students.
💼 Investor Outlook
Strong cash flow potential with low vacancy. Capital growth is dependent on building quality and proximity to the new Metro station.
🚀 Growth Potential
Historical capital growth, infrastructure pipeline, and 5-year outlook.
+4.2%
1-Year Growth
+12.8% cumulative
3-Year Growth
+24.5% cumulative
5-Year Growth
📍 Growth Drivers
- Completion of Parramatta Light Rail Stage 1.
- Opening of the Powerhouse Parramatta cultural precinct.
- Metro West construction reducing commute times to Sydney CBD to 20 minutes.
- Ongoing decentralization of NSW Government departments to Parramatta.
- Redevelopment of the Parramatta River riverfront ('Civic Link').
⛔ Headwinds
- Continued high-rise supply pipeline dampening scarcity value.
- Interest rate sensitivity among the core first-home buyer demographic.
- Reputational risks from historical building defects in the area.
🔮 5-Year Outlook
Positive growth expected as infrastructure projects move from construction to operation, solidifying the suburb's status as a genuine second city.
🛡️ Crime & Safety
Safety index, trend comparison, and what to check locally.
6
Safety Score
Average
📉 Trend
Stable
vs last 12 months
🏙️ vs Metro Average
Higher incident rate due to CBD commercial density
Relative comparison
Risk Categories
Theft: Medium
Assault: Medium
Property Damage: Low
📋 What to Check Locally
Review the NSW Bureau of Crime Statistics and Research (BOCSAR) maps for specific street-level data, particularly near the transport interchange.
⚠️ Risk Profile
Natural hazards and planning risks to verify before buying.
📋 Summary
Primary risks involve environmental factors (flooding) and structural integrity of high-density assets.
🌊 Flood Risk
Significant portions of the CBD and riverfront are subject to flooding; check Council flood maps.
🔥 Bushfire Risk
Negligible risk for the urban core.
🏦 Insurance Impact
Higher premiums likely for riverfront properties and buildings with combustible cladding history.
🗺️ Planning & Zoning
Development controls, overlays, and what's changing locally.
📐 Typical Zoning
B4 Mixed Use and R4 High Density Residential
🔲 Overlays
Heritage Conservation, Flood Planning, Sun Access Planes
🏗️ Development Hotspots
Parramatta Square, Church Street North, and the Auto Alley precinct.
Zoning allows for extreme density, meaning your views could be built out quickly. Always check the 'Sun Access' protections for your specific block.
🌳 Liveability
Day-to-day experience — transport, amenity, green space, schools and healthcare.
🚌 Transport
World-class; ferry, heavy rail, light rail, and future metro.
🛍️ Amenity & Retail
Exceptional; Westfield, 'Eat Street', and diverse retail.
🌲 Parks & Recreation
Good; Parramatta Park is a massive regional asset.
🏫 Schools
Strong; mix of high-performing public and selective options.
🏥 Healthcare
Elite; adjacent to the Westmead health super-precinct.
👥 Demographics
Who lives here — income, age, ownership, and education levels.
A young, upwardly mobile, and multicultural population with a high proportion of renters.
💵 Median Income
$92,500 pa
🏠 Ownership
32% owner-occupied, 65% renting
🎂 Age Profile
Median age 31
🎓 Education
High; 45% hold a bachelor's degree or higher.
📊 Age Distribution
The high rental population and young median age drive the demand for small-format retail, nightlife, and fast transport links.
🏗️ Major Developments
Infrastructure pipeline and what it means for values and liveability.
📋 Overview
Parramatta is currently one of the most active development zones in Australia.
📈 Positive Impacts
- Metro West providing rapid CBD access.
- Powerhouse Parramatta attracting tourism and culture.
- Parramatta Square creating thousands of local jobs.
📉 Negative Impacts
- Long-term traffic congestion during construction.
- Loss of some heritage character in the CBD core.
🗺️ Nearby Suburb Comparison
How neighbouring suburbs stack up on price, lifestyle and who they suit.
📍Harris Park
Position
Adjacent East
Price
10% cheaper for units
Lifestyle
Heritage cottage feel, famous for Indian dining.
Best for
Investors and heritage lovers.
📍North Parramatta
Position
North
Price
Similar
Lifestyle
Quieter, more established trees, less 'CBD' feel.
Best for
Young families wanting more space.
📍Westmead
Position
West
Price
5% cheaper
Lifestyle
Dominated by health and education sectors.
Best for
Medical professionals and students.
📍Oatlands
Position
North-East
Price
40% more expensive
Lifestyle
Prestigious, large houses, golf course views.
Best for
Upsizers and high-income families.
🔍 Similar Suburbs
Suburbs with a comparable profile — useful if this one is over budget or sold up.
Chatswood
NSW
9/10
Secondary CBD with high-rise living and major retail.
Box Hill
VIC
8/10
Major satellite CBD with significant transport and health infrastructure.
South Brisbane
QLD
8/10
Riverfront high-density living with cultural precincts.
Rhodes
NSW
7/10
High-density waterside living with high rental demand.
💬 Community Sentiment
Aggregated themes from resident discussions, forums and local feedback.
📊 Overall Community Sentiment
Residents value the 'everything at your doorstep' convenience but express frustration with ongoing construction and traffic.
★★★★☆
Convenience
I don't need a car here; I can walk to work, the gym, and the ferry in minutes.
Walkability
Traffic
★★★☆☆
Building Quality
Love the apartment, but the strata fees are rising every year to cover maintenance.
Modern Living
Strata Costs
★★★★☆
Education
The new vertical school is amazing, but finding green space that isn't crowded on weekends is tough.
Schools
Crowding
★★★★★
Investment
I've never had a vacancy longer than a week; the demand from Westmead workers is constant.
Rental Yield
Demand
★★★☆☆
Noise
The city has changed so much; it's very loud now with all the new trains and construction.
Amenities
Noise
★★★★★
Transport
The ferry ride to the city is the best commute in Sydney, and the new light rail is a game changer.
Transport
Lifestyle
💡 Tailored Advice
Personalised guidance for every role in this market.
🧑💼 Buyer Strategy
- Prioritize buildings older than 10 years or those with a proven track record of no major defects.
- Check the flood overlay maps specifically for the 1-in-100 year flood level.
- Investigate upcoming developments next door to ensure your views aren't about to be blocked.
- Look for properties within a 10-minute walk of the future Metro station for maximum capital growth.
- Review strata minutes for any mention of cladding issues or litigation against builders.
❓ Questions to Ask the Agent
- Has this building ever been issued a work rectification order by the NSW Building Commissioner?
- What is the current status of the building's cladding compliance?
- Are there any planned high-rise developments on the immediate adjacent lots?
- What is the percentage of owner-occupiers versus tenants in this specific building?
- How has the sinking fund been managed over the last three years?
- Is the property located within the 1-in-100 year flood zone?
- What are the average quarterly strata levies, and are there any special levies planned?
- Does the unit have any specific 'Sun Access' protections under the local LEP?
🏷️ Seller Strategy
- Highlight energy-efficient features to appeal to the young professional demographic.
- Ensure all strata documentation is up-to-date and transparent regarding building maintenance.
- Stage the property to show 'work from home' capability, which is highly valued in this CBD.
- Market heavily to the Westmead medical professional community.
- Use professional night photography to showcase the city skyline views.
📣 Positioning Tips
Position the property as a 'lifestyle asset' that offers the convenience of the Sydney CBD without the premium price tag.
💼 Investment Case
High-yield, low-vacancy play driven by health and government employment sectors.
⚠️ Investment Risks
Capital growth may be sluggish if oversupply continues; focus on unique floorplans or views.
📈 Action Plan
- Target 2-bedroom units with parking, as these are most popular with professional sharers.
- Verify the sinking fund is well-capitalized.
- Focus on the North Parramatta fringe for slightly lower entry prices and higher yields.
- Monitor the Metro West construction timeline for exit strategy timing.
🔑 Renter Tips
- Apply early; properties near the station lease within days.
- Check if the building has embedded network utilities which can be more expensive.
- Ask about acoustic glazing if the unit faces the train line or Church Street.
🏘️ What Renters Love Here
Unbeatable access to food, transport, and jobs.
⚠️ Renter Watch-Outs
High traffic noise and limited street parking for guests.
🏢 Landlord Strategy
- Offer long-term leases to medical staff at Westmead for stability.
- Ensure air conditioning is regularly serviced, as it is a non-negotiable for CBD tenants.
- Consider allowing small pets to stand out from the high-rise competition.
📋 Compliance & Management
Ensure all smoke alarm and window safety device certifications are current per NSW legislation.
🤝 Agent Insights
- The market is currently split between defect-wary buyers and those chasing infrastructure growth.
- Properties with 'Sun Access' protection are selling at a 10% premium.
🎯 Marketing Angles
The '20-minute city'—highlighting the future Metro commute times.
👤 Target Buyer Profile
First-home buyers (25-35), medical professionals, and interstate investors.
✅ Due Diligence Checklist
Tap items to tick them off. Don't skip these before signing anything.
✓
Order a comprehensive Strata Report (look for litigation or major repairs).
✓
Check the NSW Planning Portal for nearby Development Applications (DAs).
✓
Verify flood risk on the City of Parramatta Council flood maps.
✓
Inspect the property during peak hour to assess noise levels.
✓
Confirm the distance to the nearest Light Rail or Metro station entrance.
✓
Check for any heritage overlays if looking at a house or fringe property.
✓
Review the building's Fire Safety Certificate.
✓
Assess the condition of common areas (gym, pool, lifts) as an indicator of management quality.
✓
Verify parking entitlements on the strata plan.
✓
Check for 'Embedded Network' agreements for electricity and internet.
✓
Review the local school catchment boundaries (they change frequently).
✓
Evaluate the proximity to the Parramatta River and potential for dampness in lower levels.
📚 Government Sources & Disclaimer
Official council and government links only. Always verify independently before any property decision.
🔗 cityofparramatta.nsw.gov.au
🔗 planningportal.nsw.gov.au
🔗 abs.gov.au
🔗 nsw.gov.au
🔗 transport.nsw.gov.au
🔗 nsw.gov.au
⚠️ Important Disclaimer
This report is for informational purposes only and does not constitute financial or legal advice. Data is based on the latest available government and market sources as of February 2026. Buyers should conduct their own independent due diligence.
