In response to demand from entry-level buyers and young families for properties in the suburbs, Starr Partners will extend their network into Parramatta.

The new office, located at 4/459-463 Church Street, Parramatta, will be open from 1 June and led by a team of highly experienced Starr Partners professionals who have an unsurpassed knowledge of the western Sydney property market.

Currently managing the Starr Partners’ Blacktown office, Daniel Formosa will become the office’s Managing Director and Mark Vella its Licensee.

At a Glance:

• New Starr Partners office to open in Parramatta on June 1
• The opening is in response to projects such as the Parramatta Square precinct, Wester Sydney Airport, Parramatta light rail and redevelopment of Blacktown Hospital
• Starr Partners has had a presence in Parramatta for 20 years

Together, they have more than 35 years’ real estate experience.

Their team will comprise husband-and-wife duo Greg Okladnikov and Antoinette Davino, who currently manage Starr Partners’ Auburn and Narellan offices with 29 years’ combined experience.

Elise Nusco, a highly experienced new business and operations manager and Parramatta resident, will also join its ranks.

Mr Formosa said the decision to open an office in Parramatta was motivated by key developments in the suburb and its surrounds.

Due for completion in 2022, the construction of the $3.2 billion Parramatta Square precinct, one of the largest urban renewal projects in the country, will transform the heart of Parramatta’s CBD into a vibrant commercial and residential precinct.

The future Western Sydney Airport at Badgerys Creek, which will cater for 10 million passengers a year when it opens in December 2026, the Parramatta Light Rail, and the Blacktown Hospital redevelopment, will also lead to greater economic, social, and employment benefits for residents in the area. 

“The Parramatta property market is very robust with strong demand from first-home buyers and families for both its mixed-use apartments close to Parramatta Square and leafier, suburban homes – and it has remained so during the coronavirus shutdowns, said Mr Formosa to WILLIAMS MEDIA.

"Interest rates are at an all-time low and banks are still lending (even if they are doing so warily).

"On top of that, there are fewer properties on the market than this time last year, meaning holding prices have remained strong.

“Our industry has also been able to act in the face of the uncertainty that COVID-19 presents.

"We’re once again able to conduct open homes with the necessary precautions, and we’re also allowed to conduct private inspections.

"Going forward, a focus for our Parramatta office will be concentrating more heavily on private inspections and providing buyers with the one-on-one high level of service that they need.”

Mr Formosa said the completion of the development projects mentioned above will be a big drawcard for home buyers. 

"These will boost connectivity and the appeal of residential properties in the area, which remains more affordable than the Sydney CBD.” said Mr Formosa to WILLIAMS MEDIA.

With the population of the City of Parramatta expected to increase by more than 250,000 people in the next 20 years, Mr Formosa said it is not surprising that the suburb has remained popular among the first-home buyer market during the pandemic.

He anticipates that he will continue to see an increasing number of young families move to the thriving multicultural community.

“The Parramatta property market is very robust with strong demand from first home buyers and families for both its mixed-use apartments close to Parramatta Square and leafier, suburban homes,” said Mr Formosa.

“I believe that traffic congestion, overcrowding and a lack of open spaces in the inner suburbs of Sydney is motivating people to change their living arrangements according to their priorities.

"North Parramatta offers first-home buyers the chance to invest in a little more space, well connected to Parramatta’s CBD by Church Street and a burgeoning dining scene.”

Starr Partners CEO Douglas Driscoll said it's very unusual to have such incredible talent converge under the same roof.

"As a group, we’ve had a presence in Parramatta for nearly two decades, but this new elite team has the potential to reach new heights.” said Mr Driscoll.

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