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Parramatta, NSW 2150 — Suburb Guide: New Apartments, Property Market and City Living
Parramatta (postcode NSW 2150) is Sydney’s second CBD. It sits 23 kilometres west of the city centre. More than 24,000 people work in Parramatta Square every day.
The suburb has changed dramatically in recent years. The Parramatta Light Rail opened in December 2024, with 16 stops connecting key destinations. Sydney Metro West is under construction, and it will link Parramatta to the CBD in just 20 minutes.
Shah & Patel Properties markets One City Square at 83 Church Street, Parramatta. The development offers 1, 2 and 3-bedroom apartments from $683,000. Explore the full suburb guide below, then view current availability.
Why Parramatta Is One of Sydney’s Strongest Property Markets in 2026
Parramatta combines employment, transport, and liveability in a way that few suburbs in Greater Sydney can match. The NSW Government has committed over $20 billion in infrastructure to the CBD. This investment is visible and ongoing.
The suburb’s rental market is very active. In fact, 72.4% of residents rent their homes. That figure is the highest of any suburb in the S&P programme and it creates constant, structural demand for apartment buyers.
In addition, Parramatta currently sits below its long-term trend value. The full-period compound annual growth rate is 4.5%, covering 37,868 recorded sales. For buyers who plan to hold long term, the entry timing is well supported by data.
912 units sold in Parramatta in the 12 months to February 2026. Units spent an average of 41 days on market. Unit rental yields are 5.75% per annum at a median rent of $670 per week.
Parramatta Property Market — Prices, Unit Yields and 2026 Data
Parramatta is primarily an apartment market. Strata-titled properties make up 72.5% of all housing stock in the suburb. The median apartment price is approximately $615,000.
Unit rental yields sit at 5.75% per annum. The median weekly unit rent is $670. These figures make Parramatta one of the strongest yield markets in inner Western Sydney.
The house market is smaller and tightly held. The median house price is approximately $1,672,000. Houses sell in an average of 62 days, with only 47 house sales recorded in 12 months.
For investors, the apartment segment is where the opportunity sits. Units sold 912 times in 12 months at an average of 41 days on market. That level of liquidity confirms deep and consistent demand.
Parramatta is currently assessed as below its long-term trend value. This means entry prices today reflect a potential upside window. Sydney Metro West — when complete — is expected to drive a sustained uplift in values near the station precinct.
FEATURED PROJECT ONE CITY SQUARE — 83 Church Street, Parramatta NSW 2150 – Apartments (From $683,000)
One City Square is a landmark new precinct developed by JQZ and designed by AJC Architecture. It transforms an entire city block at 83 Church Street, Parramatta NSW 2150. The development includes 1, 2 and 3-bedroom apartments plus 1-bedroom plus study configurations, with internal sizes from 56 to 117 sqm. Every apartment is finished with travertine-look tiles, quality carpet in bedrooms, and floor-to-ceiling windows in select apartments.
Residents enjoy panoramic views across Parramatta, the Blue Mountains, and the Sydney CBD. At ground level, a European-inspired dining and retail piazza creates a café and restaurant laneway open to residents and visitors. Amenities include a lobby, gymnasium, and landscaped communal spaces. Parramatta Square is steps away. Parramatta Station serves the T1, T2, and T6 train lines. The Parramatta Light Rail stop is nearby, connecting to the Westmead Health Precinct, CommBank Stadium, and three Western Sydney University campuses. Estimated completion: mid-2028. From $683,000 to $1,424,000.
View One City Square Parramatta — Apartments from $683,000
Browse All Parramatta Properties
Transport in Parramatta — Train, Light Rail, Metro West and Roads
Parramatta Station is one of the busiest transport hubs in Western Sydney. It serves the T1 Western, T2 Inner West and Leppington, and T6 Carlingford Line train services. Direct trains to the Sydney CBD run regularly throughout the day.
The Parramatta Light Rail opened in December 2024. It delivers 16 accessible stops across the greater Parramatta area. Stops include CommBank Stadium, the Westmead Health Precinct, and three Western Sydney University campuses.
Also under construction is Sydney Metro West. When open, it will connect Parramatta to the Sydney CBD in just 20 minutes. One City Square on Church Street is within walking distance of the planned Parramatta Metro West station.
By road, Parramatta connects directly to the M4 Motorway and the A22 Cumberland Highway. Westfield Parramatta has a large car park for visitors. On-street parking is available throughout the suburb’s residential pockets.
Merrylands Suburb Guide — 1 Stop from Parramatta
Shopping, Dining and Lifestyle in Parramatta NSW 2150
Parramatta has one of Sydney’s strongest retail precincts. Westfield Parramatta is minutes from One City Square. It includes major department stores, specialty retail, dining, and a cinema complex.
In addition, Parramatta Square draws 24,000 workers every day. It hosts restaurants, cafés, and retail at ground level. The atmosphere is active from Monday to Saturday.
Parramatta Park is a World Heritage-listed site within the suburb. It offers 85 hectares of parkland, walking paths, and heritage buildings. The park provides a genuine green escape from the CBD.
Powerhouse Parramatta Museum is a cultural anchor for the area. It opened as a major arts and science precinct in 2023. The museum has helped redefine what Parramatta means to Greater Sydney.
Riverside Theatres adds live performance and entertainment to the offer. The venue hosts theatre, comedy, dance, and community events. For residents, the cultural programme is exceptional for a Western Sydney suburb.
Schools and Education Near Parramatta
Parramatta has a strong and diverse school network. Arthur Phillip High School is just 0.7 kilometres from One City Square. It is one of the highest-performing public high schools in the Parramatta LGA.
Also nearby are several independent and Catholic schools. Maronite College of the Holy Family, Our Lady of Mercy College, and Delany College are all within 1.5 kilometres. These schools serve students from primary through to Year 12.
For tertiary education, Western Sydney University has three campuses accessible via Light Rail. Macquarie University is reachable from Parramatta Station. Students find Parramatta an affordable and well-connected base.
The Westmead Health Precinct is a world-class training and research facility. It sits just minutes away by Light Rail. The precinct draws nursing, medical, and health science students from across Greater Sydney.
Parramatta Investment Property — Yields, Growth and the Metro West Case
Parramatta is one of the best-documented investment markets in Sydney. It has 37,868 recorded property sales spanning 36 years of data. That history gives investors a reliable long-term picture.
Unit rental yields are 5.75% per annum. The median weekly unit rent is $670. Those figures place Parramatta among the top-performing unit markets in the inner Western Sydney corridor.
In addition, 72.4% of Parramatta residents rent their homes. That means demand for rental apartments is structural and ongoing. Investors entering the market today benefit from an established, high-occupancy rental base.
Sydney Metro West is the most significant investment variable on the horizon. When complete, it will connect Parramatta to the CBD in 20 minutes. Properties near the station — including One City Square on Church Street — are positioned ahead of that value event.
Parramatta is also assessed as below its long-term trend value in early 2026. The full-period compound annual growth rate is 4.5%. For investors with a medium-to-long hold horizon, the entry window is supported by independent data.
One City Square offers three entry points. A 1-bedroom apartment starts from $683,000. A 3-bedroom residence reaches $1,424,000. Each configuration suits a different investment strategy and budget.
Parramatta Future Growth — What Is Coming and Why It Matters
Parramatta is in the middle of a transformation. The NSW Government has committed over $20 billion in infrastructure to the CBD. As a result, the suburb looks and functions very differently from a decade ago.
In April 2025, Parramatta was named one of the world’s 21 smart communities. The International Community Forum recognised it alongside communities in Iceland, Spain, Taiwan, and the United States. The recognition was based on connectivity, employment, innovation, and digital inclusion.
Sydney Metro West is the next major catalyst. It is currently under construction and will connect Parramatta to Martin Place in just 20 minutes. Most importantly, One City Square is on Church Street — walking distance from the planned Parramatta Metro West station.
The $36 billion Westmead Health Precinct expansion is also underway. It is one of Australia’s largest health and research investments. The precinct brings long-term employment demand to the suburb and supports the rental market.
Western Sydney International Airport opens in 2026 at Badgerys Creek. It is accessible from Parramatta via road and future rail. The airport adds employment and connectivity to the south-west, increasing Parramatta’s regional significance.
Suburbs Near Parramatta — Compare Your Options
Merrylands is the closest alternative for buyers comparing both suburbs. Shah & Patel also market Mason & Main in Merrylands, with apartments from $504,000.
Frequently Asked Questions About Parramatta NSW 2150
Q: What is the median apartment price in Parramatta NSW 2150?
A: The median apartment price in Parramatta is approximately $615,000 as of early 2026. Units spent an average of 41 days on market. There were 912 unit sales recorded in the 12 months to February 2026. Source: CoreLogic / YIP, 2026.
Q: Is Parramatta a good suburb for property investment?
A: Yes — Parramatta offers strong unit rental yields of 5.75% per annum at $670 per week. Over 72% of residents rent, which creates consistent demand for investors. The suburb also sits below its long-term trend value in early 2026, which independent data sources flag as a potential entry opportunity. Independent financial advice is always recommended.
Q: How far is Parramatta from Sydney CBD?
A: Parramatta is currently 23 kilometres west of the Sydney CBD. By train, the journey takes approximately 25–35 minutes depending on the service. When Sydney Metro West opens, the trip will take just 20 minutes.
Q: What new apartments are for sale in Parramatta?
A: Shah & Patel Properties market One City Square at 83 Church Street, Parramatta NSW 2150. The development offers 1, 2 and 3-bedroom apartments from $683,000. Internal sizes range from 56 to 117 sqm, with estimated completion in mid-2028. Contact our team for current availability and information packs.
Q: What schools are near Parramatta NSW?
A: Arthur Phillip High School is 0.7 kilometres from the city centre. Maronite College of the Holy Family, Our Lady of Mercy College, and Delany College are all within 1.5 kilometres. Western Sydney University has three campuses accessible by Light Rail.
Q: What postcode is Parramatta?
A: Parramatta postcode is NSW 2150. It is the administrative centre of the City of Parramatta Council, located in Western Sydney.
Q: Are there first home buyer opportunities in Parramatta?
A: Yes. First home buyers purchasing eligible new apartments in Parramatta may access the NSW First Home Buyer Assistance Scheme. The First Home Owner Grant may also apply to qualifying new builds. Speak to a Shah & Patel agent and seek independent financial advice for your circumstances.
Buy an Apartment in Parramatta — Talk to Shah & Patel Properties
Shah & Patel Properties markets One City Square at 83 Church Street, Parramatta NSW 2150. The development offers studio, 1, 2 and 3-bedroom apartments from $683,000 to $1,424,000. Our team provides free consultations for buyers, investors, and first home buyers.
You can contact us to arrange a private viewing. Alternatively, request a full information pack for One City Square. We are available seven days a week.
- Book a Free Parramatta Consultation
- Enquire About One City Square Parramatta
- Compare — Mason & Main Merrylands from $504,000
Disclaimer: Shah & Patel Properties prepares this suburb guide for general information purposes only. Property market data, median prices, rental yields, and demographic figures come from publicly available sources. These include ABS Census 2021, CoreLogic, YIP, HtAG Analytics, AUS Property Insights, and Transport for NSW. All data is believed accurate at time of publication but may change without notice. Nothing in this guide constitutes financial, investment, or legal advice. Buyers and investors should seek independent professional advice before making any property decision. Images are for illustrative purposes only and may include artist’s impressions.