North Parramatta, NSW 2151
Type of Property: Apartment
Reason of Purchase: Investment Property
Address: Church St, North Parramatta NSW 2151
The client originally engaged Cohen Handler as a mortgage broker to assist his finance approved clients with acquisition concerns and market support. Having executed a number of transactions on behalf of the mortgage broker’s customer base, it was only natural that Cohen Handler secured the residential investment scope for him personally. The client has a narrow brief to Parramatta and immediate surrounding suburbs.
As a point of introduction to North Parramatta, the suburb size is approximately 4 square kilometres. It has 6 parks covering nearly 19% of total area. The population of North Parramatta in 2006 was 11,876 people. By 2011 the population was 12,595 showing a population growth of 6% in the area during that time. The predominant age group in North Parramatta is 25-34 years.
Households in North Parramatta are primarily couples with children and are likely to be repaying between $1,800 – $2,400 per month on mortgage repayments. In general, people in North Parramatta work in a Professional occupation. In 2006, 42.0% of the homes in North Parramatta were owner-occupied compared with 46.2% in 2011.
Source: RP Data, January 2015.