Homebush West is drawing buyers with WestConnex/Metro convenience, Olympic Park adjacency and cheaper entry points than the inner west, keeping unit yields near 5.8% and crowding investors and first-home buyers. Stock remains controlled even as approvals climb, so short-term scarcity supports prices while the high renter/investor share keeps leasing demand solid ahead of the pipeline. Median houses are about $1.72m and units $630k after roughly 9.5% and 0.2% annual retreats, so the last six months feel softer yet still competitive for sub-$1.5m homes as buyers chase improved borrowing after recent rate cuts.