With Sydney’s median home prices now over $1 million, first homebuyers are increasingly on the hunt for affordability, and Granville is emerging as a new property hotspot in Western Sydney.
Granville’s strategic location, just minutes from Parramatta, is making it a compelling choice for buyers priced out of Sydney’s second CBD. As Parramatta continues to grow as a major commercial and lifestyle hub, Granville is emerging as an affordable and well-connected alternative, driving strong demand – particularly from first-home buyers.
Ellipse Property’s $215 million East+Cowper development is testimony to this trend, with 27% of the apartments sold off-the-plan to date to first home buyers.
Located at 2-6 Cowper Street and 5 East Street in Granville, the 19-level building comprises 264 apartments in a range of floorplan configurations. It includes 60 one-bedroom and 189 two-bedroom apartments, some with a multi-purpose room or study, as well as 15 three-bedroom apartments.
Prices range from $550,000 to $640,000 for a one-bedroom apartment sized from 50 – 62 square metres. Two-bedroom units are sized between 74 and 83 square metres and priced from $745,000 to $1,045,000, while three-bedroom apartments are priced from $920,000 to $1,180,000 and are 89 square metres.
First homebuyers have also been drawn to East+Cowper by the ability to use Coposit, breaking down the deposit barrier to home ownership.
Coposit enables qualified home buyers to purchase off-the-plan properties with an initial minimum deposit of $10,000 and pay off the balance of the required deposit during construction via weekly, interest-free payments. Settlement is finalised through traditional financing channels on completion.
Construction of East+Cowper is set to commence by the end of 2025, with leading builder Decode scheduling completion by the end of 2027.
“We are proud to deliver an affordable product with East+Cowper and help first-time buyers into a brand-new home. With continued interest rate cuts expected throughout 2025, combined with the availability of Coposit, it is a great time for young people to get into their first property,” said Puja Khanna of Ellipse Property.
The apartments boast access to a range of amenities usually associated with inner-city residential buildings, including a rooftop entertainment area with CBD skyline views and tranquil landscaped gardens.
“East+Cowper does not include a gym or swimming pool by design, in a bid to only deliver amenity our buyers would use, and also to keep strata levies affordable. The local area is amenity-rich with an abundance of open spaces and Granville Memorial Park Swimming Pool nearby for residents to enjoy,” Ms Khanna said.
The apartments are spacious, with considered layouts boasting optional multi-purpose rooms and studies to accommodate fluctuating needs and hybrid working styles, along with ample storage. Abundant balconies and decks seamlessly integrate living areas with the outdoors.
According to Colliers, exclusive sales agents for East+Cowper, Granville’s proximity to Parramatta positions it as an “in-demand” suburb, where buyer and tenant demand is greater than apartment supply.
“First homebuyers priced out of areas closer to the CBD and Parramatta are seeing value in Granville, drawn to its affordability and future growth potential. The suburb is undergoing a transformation, with new infrastructure and residential developments set to reshape the area,” said Blake Schulze, National Director at Colliers Residential.
“Infrastructure upgrades will further improve connectivity between Granville and the Sydney CBD, making it an even more attractive location. Buyers are well-positioned to benefit from this continued evolution, with future development and enhanced transport links expected to drive capital appreciation,” Blake Schulze said.
East+Cowper offers enhanced connectivity, just a two-minute walk from Granville train station and close to major arterial roads including City West Link and the M4 Motorway.
Ellipse Property is also delivering Carrington Place, a five-stage, $750+ million master-planned community at Castle Hill Showgrounds. It is the largest residential masterplan in Castle Hill and will deliver more than 800 new homes.
The East+Cowper Display Suite is located at 33 Cowper Street in Granville and can be inspected by appointment ph: 1800 570 546.
East + Cowper Case Study
First home buyer Desmond Mururi, a 22-year-old support worker from Oran Park in Sydney’s southwest, always had his mind set on buying a property – but never dreamed he would be the owner of a brand-new apartment in Sydney quite so quickly.
He has just secured a two-bedroom apartment off-the-plan in Granville – capitalising on the suburb’s affordability and using Coposit to break down the deposit barrier.
“I know I am fortunate to be living with my family. I wanted to make sure that I was smart and saved for a property during this time so I could get ahead,” he said.
When Desmond saw East+Cowper’s apartments, the affordable price range, combined with its sophisticated design, immediately caught his attention – along with the ability to use Coposit to effectively pay the deposit in weekly instalments while his first home is being built.
“I loved the design of the apartment and its spacious size. I always thought I would have to live in a tiny one-bedroom unit due to Sydney property prices – but I have just bought a two-bedroom apartment with a multi-purpose room. It has a large balcony as well, and the building itself has a rooftop with views of the city. I can’t wait to move in,” said Desmond.
Coposit enables qualified home buyers to purchase off-the-plan properties with an initial minimum deposit of $10,000 and pay off the balance of the required deposit during construction via weekly, interest-free payments. Settlement is finalised through traditional financing channels on completion.
“My family told me about Coposit and it has really helped me to get into the market. I already had $10,000 saved, and then it was just a matter of getting my credit history checked and submitting pay slips. The process was very easy and fast,” he added.
Desmond is looking forward to moving into his first home when it is complete in 2027.
Related Articles
