Once popular for its business park, Norwest is now in the spotlight as the Hills District’s next apartment hotspot.
Driving this growth is a high demand for affordable housing, ongoing infrastructure projects and the expansion of local employment opportunities, making Norwest a thriving urban centre. New data from Urbis released this month, identifies Norwest as a standout in Greater Western Sydney, both for liveability and investment performance.
The Urbis Norwest Market Outlook Report, predicts that Norwest, Bella Vista and Baulkham Hills will welcome 5,600 new residents by 2040, with growth driven by strong overseas migration, increased job opportunities and major infrastructure investment.
Norwest Business Park, the local economic engine, currently supports 37,500 jobs and is projected to add nearly 10,000 more by 2041, explaining the demand for housing in the area.
Interestingly, apartments now make up 53.5% of all occupied dwellings in Norwest, surpassing standalone houses (37.6%) by a big margin. This shift is in line with a broader national trend, with apartment living now the choice of 2.5 million Australians, more than 10.3% of the population, according to the latest Census data.
In NSW, about 1.28 million people now live in apartments, owing to affordability constraints as we witness medium-density housing on the rise in Norwest.
Between 2022 and 2025 alone, the Norwest area recorded positive rental growth for apartments at 8.8% per annum, while the prices of apartments increased 2.2% per annum over the same period. Investor confidence too is back post-pandemic with steady returns.
As against that, in the past decade – Norwest house prices have soared by 77%, reaching nearly $2 million in 2025, while apartment prices increased by 34%. This gap – now over $1 million – is pushing more buyers toward apartments as housing constraints continue to challenge Sydneysiders.
Apartments are not only more affordable than houses in Norwest, but also 18% cheaper than apartments in Chatswood.
“We’re seeing sustained demand from both owner-occupiers and investors,” said Andrew Nichols, Director NSW Development at Mulpha, parent developer of Norwest Business Park. Apartments are not considered a compromise or a stepping stone into the housing market anymore.
For many, they are now the first and preferred choice. It now represents a smart lifestyle and financial decision,” said Nichols. The demographic has shifted significantly – from empty-nesters and young adults to families now opting to live in apartments.
He added that people are moving away from time, cost and maintenance of traditional homes and are looking for smart, low-maintenance living without compromising on lifestyle, walkable neighbourhoods, access to quality schools, green spaces, and vibrant town centres.
Leading the housing transformation is Norwest Quarter, a landmark new development by Mulpha. Current plans anticipate 864 apartments across eight residential towers, with housing for more than 2,000 residents and 70% of the 3.8-hectare site reserved for open green space, 6,000m² of lifestyle amenities including cafes, restaurants, neighbourhood shops and other essential services.
