Granville in 4% of Sydney Suburbs with Property below $550K
As Greater Sydney’s median apartment price exceeds $860,000, many first homebuyers are being priced out of their preferred locations. A trend is emerging as first-time buyers ‘postcode pivot’ – choosing neighbouring areas bordering major precincts that offer more affordable apartments.
Granville is testimony to this, with the Western Sydney hotspot emerging as a well-connected ‘pivot’ from nearby Parramatta. A recent analysis of REA Group data by SuburbsGuide ranked Granville the 25th most affordable out of 658 Sydney suburbs, and within the elusive 4% of Sydney suburbs that have property priced under $550,000, with the suburb even offering brand-new units at this price point.
According to leading agency Colliers, while first home buyers prioritise lifestyle and connectivity, rising home values are forcing them to reconsider postcodes.
“As Sydney home prices reach record highs and stock remains limited, first homebuyers are finding it increasingly difficult to secure a foothold in their preferred suburbs. Major precincts continue to attract strong interest due to their transport links and amenity, but they come with a higher price tag,” said Blake Schulze, National Director – Residential at Colliers.
“We’re now seeing lesser-known neighbouring suburbs gain momentum as affordable alternatives. These areas still offer great connectivity and lifestyle appeal, but at an accessible price point for first-time buyers,” he added.
Ellipse Property’s $215 million East + Cowper development reflects this trend, with 35% of apartments sold to first homebuyers since the project’s launch. The project is located at 2-6 Cowper Street and 5 East Street in Granville, and importantly, offers brand-new one-bedroom apartments from just $545,000.
While lower in profile than Parramatta, Granville is just 10 minutes’ drive from the suburb and is well-serviced by public transport, as well as retail, dining, essential services, sporting facilities and leading schools.
“Granville presents the rare chance for buyers to secure an apartment at a significantly below-median price, while still benefitting from transport links, amenities and fast access to Sydney’s second CBD – and growing demand for units shows that buyers are capitalising on Granville’s affordability,” said Mr Schulze.
Prices at East + Cowper start from $545,000 for a 50-square-metre one-bedroom apartment. Two-bedroom units are sized from 74 metres and priced from $735,000, while three-bedroom apartments start at $925,000 for an 89-square-metre floorplan.
Select apartments are available for purchase via Coposit, which allows buyers to secure a unit off-the-plan with just $10,000 and pay the balance in weekly, interest-free instalments during construction. Settlement is finalised through traditional financing channels once construction ends.
East + Cowper has shown strong sales performance to date, with most units available through Coposit already snapped up.
The project is just two minutes’ walk from Granville train station, with proximity to major arterial roads including the City West Link and the M4 Motorway.
East + Cowper’s apartments are spacious, with functional floorplans including multi-purpose rooms and studies to accommodate for hybrid working styles. Abundant balconies and spacious decks are included for seamless indoor-outdoor living, while ample storage and durable, high-quality finishes have been thoughtfully included throughout.
The development also offers curated amenities, including a rooftop entertainment area with city skyline views and serene landscaped gardens. With an abundance of nearby amenities for residents, including Granville Memorial Park Swimming Pool, East + Cowper’s design deliberately excludes a pool or gym – keeping strata fees as low as $570 per quarter for a one-bedroom apartment.
Construction on East + Cowper is set to commence by the end of 2025, with leading iCIRT-rated builder Decode scheduling completion by the end of 2027.
Case Study: Matthew Salfinger – First Home at 25
25-year-old Matthew Salfinger, a Granville native and Light Rail driver, just bought his first home for $570,000 – a one-bedroom apartment with a study at East + Cowper. He initially wanted to buy in Parramatta – and is testimony to the “postcode pivot” trend.
“When I set out to buy a property, I wanted to live close to my work, so ideally thought of Parramatta. One of the perks of my job is that I get free travel on public transport, so living close to a train station is important to me,” said Matthew.
Matthew inspected a Parramatta apartment near a Light Rail stop, but the price was too high. He also looked at similar properties in Parramatta and Harris Park, but none caught his eye. He then looked closer to home in search of lower prices, and realised that East + Cowper was not only more affordable, but also gave him the convenience he was after.
“It’s difficult to buy in Parramatta because prices are rising so fast, but Granville is accessible. East + Cowper is very close to the train station – even closer than where I’m living now – so my commute will be even faster,” he said
Matthew loved the development’s rooftop garden and its views over Duck Creek to the city. East + Cowper’s proximity to retail, with a Woolworths Metro located just next door, only added to its convenience. He also chose an apartment with a study due to its spacious size and functional layout, which gives him room to enjoy his hobbies – building model trains, cars and planes – without them crowding up his living room.
With almost all of the one-bedroom apartments in Stage One sold out, Matthew snapped up the apartment after his first-ever visit to East + Cowper’s display suite.
He also used Coposit to break down the deposit barrier, allowing him to secure his apartment with just $10,000, and pay the difference in instalments while his new home is being constructed.
“When I submitted an EOI, that’s when I learned about Coposit, and it has been really helpful. The buying process was very straightforward, and I made my decision quickly – basically securing my apartment on the spot,” he added.
“I love the convenience of my new place, and I’m still close to my work, so I’m happy.”
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