Urban.com.au’s insight into new apartments in Parramatta
New apartments in Parramatta have been the driving force behind Parramatta becoming one of Australia fastest growing cities.
Parramatta offers a balance of bustling commercial activity, rich history, a vibrant multicultural food and arts scene, and a picturesque riverside location.
With its rich history and multicultural community, Parramatta has become a popular choice for new apartment buyers seeking convenience, affordability and modern amenities. From world-class dining options to picturesque parks and recreational facilities, this bustling city has something for everyone.
When it comes to new apartments in Parramatta, you can expect contemporary apartment buildings and townhouses that are designed for comfort and style. Whether you're looking for a sleek studio apartment or a spacious family-friendly townhouse, there's a wide range of options available to suit your needs.
Living in Parramatta means being surrounded by an array of shopping centres, cafes, restaurants and entertainment venues. The vibrant nightlife scene ensures that there is always something happening in the area, from live music performances to cultural events.
For those who value convenience and accessibility, Parramatta boasts excellent transport links including trains, buses and ferries. With easy access to major roads such as the M4 motorway and Great Western Highway, commuting to Sydney CBD or other parts of Western Sydney is hassle-free.
As apartment development ramps up across Western Sydney, many apartments and townhouses are popping in the state’s second CBD. Start your search today for new apartments for sale in Parramatta!
New Apartments in Parramatta
Parramatta's urban landscape is evolving, reaffirming its status as Sydney's second CBD.
The finalisation of the Parramatta CBD Planning Proposal in May 2022 marked a significant step forward, offering the potential for around 11,900 new dwellings. This development is crucial in helping Parramatta reach its five-year housing target of 23,660 new homes by 2026.
The approval of the CBD Planning Proposal provides much-needed certainty for investors and aims to boost housing supply and quality jobs in the area.
New Apartments in Parramatta: The Data from Urban.com.au
First home buyers have been the dominant enquiry demographic for new apartments in Parramatta and its surrounding area in 2024, Urban.com.au data shows. They make up over 80 per cent of enquiry on Urban.com.au.
Half of those who have enquired on new apartments in Parramatta and the surrounding area this year has said they have budgets between $600,000 and $800,000. 30 per cent of the enquiry from next home buyers looking for a new apartment around Parramatta has a budget of between $1 million to $1.5 million.
The average price per square metre of new apartments in Parramatta on Urban.com.au is $10,352 in June 2024. The most popular configurations of new apartments in Parramatta on Urban.com.au is two-bedroom, two-bathroom apartments.
New Apartments in Parramatta selling in 2024
Throughout the years, developers in Parramatta have brought new developments that contribute to the suburb's ever-evolving skyline.
New apartments in Parramatta reached new heights in 2023 with the completion of its tallest new apartment tower.
Rising 67 levels, Meriton's 180 George comprises 552 apartments looking out over the Parramatta River to the Sydney CBD skyline and beyond, marking a new statement building in the epicentre of Western Sydney.
Privately-owned developer Coronation Property is also in the works of bringing another landmark destination to Parramatta's real estate landscape. In collaboration with the renowned global architects Woods Bagot, the 55-level tower, dubbed 8 Phillip Street, comprises 314 sold-out apartments and penthouses.
8 Phillip Street will sit alongside Parramatta's first luxury QT Hotel, spanning from the ground floor to level 17 of the tower.
In June, developer ALAND has topped out its new $357 million Paramount on Parkes with a traditional ceremony attended by building crew, staff and guests.
Paramount on Parkes is a cutting-edge building that features many sustainable features, such as efficient use of wind, water and solar access, state-of-the-art security technology and the latest digital comms, including optic fibre cabling.
When completed in August this year, the new tower will contain 331 apartments, a ground-floor retail precinct, resort-style amenities and six floors of dedicated commercial space at the summit.
