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NAB’s Greater Western Sydney Special Horizons Report highlighted a 9.2 per cent increase in lending in Greater Western Sydney in the year to May. This was ahead of the NSW average of 7 per cent.
The 10 industries experiencing the largest growth in lending across Western Sydney in the year to May are:
- Basic material wholesaling (29.2 per cent)
- Accommodation, cafes, pubs, and restaurants (25.4 per cent)
- Personal and household goods wholesaling (22.4 per cent)
- Food, beverage, and tobacco manufacturing (19.5 per cent)
- Machinery and equipment manufacturing (17.2 per cent)
- Metal product manufacturing (15.3 per cent)
- Road transport (14.1 per cent)
- Personal and household goods retailing (13.6 per cent)
- Community services (12.8 per cent)
- Machinery and motor vehicle wholesaling (12.2 per cent)
Sam Turri, head of commercial and equipment finance broker, NSW/ACT at NAB, said there is an opportunity for brokers to capitalise on increased investment in the region.
He said there is a demand for expertise as business owners seek trusted advisers. Effective brokers will take this opportunity to deepen relationships and help facilitate growth plans.
Coinciding with a growth in lending is a booming population. Half of the population of Sydney resides in Greater Western Sydney, and even more shockingly, one in 10 of the entire Australian population lives there.
The immense number of residents is making way for increased government spend on infrastructure.
Some of the major developments include:
- Western Sydney International Airport
- Bradfield City Centre
- Sydney Metro West
- WestConnex
- Parramatta Light Rail
Borrower habits are continuing to shift, and these sentiments are driving a renewed sense of confidence in the region.
Turri said expansion will continue in the face of cost pressures. Lending opportunities are plenty, and commercial finance brokers are primed to capitalise on positive growth and expansion of Australia’s most populous and thriving region.
NAB metro and specialised business banking executive, Julie Rynski, said the investment in Greater Western Sydney is at “historic levels”, and momentum is expected to continue.
“Businesses are investing, families are settling, and communities are flourishing. These projects aren’t just about transport – they’re about transformation,” Rynski said.
“They’re unlocking new business districts, shortening commutes, and creating opportunities for every kind of enterprise.”
Residents in Sydney’s west aren’t just thriving economically. The region reported higher levels of life satisfaction and lower anxiety than national average.
The spirit of growth remains strong, and brokers have a clear opportunity to support it.
[Related: Western Sydney becoming business investment hotspot]
