After enduring a period of decline throughout most of 2022 and early 2023, the Sydney property market seems to be experiencing a resurgence. In a city that’s synonymous with vibrant life and dynamic growth, the property sector has proven to be no exception, leading the charge in a positive turn in housing conditions across Australia1.
According to the latest data, property values in Sydney have been on an upward trajectory since February, rising by 1.3% in April alone. Remarkably, current prices are now 3% higher than the lowest point recorded in January1.
In the midst of this exciting turnaround, the latest quarterly Shore Financial State of Sydney Report has provided some intriguing insights. The report analysed more than 600 Sydney suburbs to identify the top 25 suburbs tipped for impressive price growth over the next six months1. These suburbs emerged as clear standouts due to their low inventory levels, which have led to increased competition among buyers and put upward pressure on prices1.
What’s more, these suburbs exhibit strong market conditions that are expected to keep this upward price pressure intact for the foreseeable future. From the heartland to the suburbs, and from rising regions to professional and affluent neighbourhoods, the top 25 suburbs span a diverse range of areas within Sydney1.
The top 25 suburbs forecast for growth over the next six months, along with their current median house price, are:
Heartland Sydney:
- Dean Park – $820,000 – 3 per cent growth
- Emu Heights – $930,000 – 3 per cent growth
- Currans Hill – $870,000 – 1 per cent growth
- Cambridge Gardens – $810,000 – 1 per cent growth
- Hobartville – $812,000 – 1 per cent growth
Suburban Sydney:
- The Oaks – $1.225 million – 5 per cent growth
- Blair Athol – $945,000 – 4 per cent growth
- Mount Riverview – $950,000 – 2 per cent growth
- Elderslie – $1.008 million – 1 per cent growth
- Casula – $1.025 million – 1 per cent growth
Rising Sydney:
- Alfords Point – $1.6 million – 2 per cent growth
- Cecil Hills – $1.35 million – 1 per cent growth
- Harrington Park – $1.36 million – 1 per cent growth
- Dundas – $1.628 million – 1 per cent growth
- Enmore – $1.74 million – 1 per cent growth
Professional Sydney:
- Balmain – $2.35 million – 4 per cent growth
- North Epping – $2.3 million – 3 per cent growth
- Davidson – $2.182 million – 3 per cent growth
- Terrey Hills – $1.885 million – 3 per cent growth
- Cherrybrook – $2.15 million – 2 per cent growth
Affluent Sydney:
- Kogarah Bay – $2.72 million – 3 per cent growth
- North Bondi – $3.9 million – 3 per cent growth
- Paddington – $2.8 million – 3 per cent growth
- Concord West – $2.718 million – 1 per cent growth
- Gladesville – $2.57 million – 1 per cent growth1.
Conclusion:
The signs of revival in Sydney’s property market represent an exciting development for potential buyers, investors, and property professionals alike. As we navigate through 2023, these top 25 suburbs are set to offer promising opportunities for those looking to tap into the city’s burgeoning property market.
Whether this resurgence is a temporary bounce or the beginning of a new growth cycle remains to be seen. One thing is certain, though: Sydney’s property market is a dynamic landscape, and keeping abreast of its latest trends is key to making informed decisions1.
Disclaimer:
This article is intended to provide a general overview of recent trends in the Sydney property market. It does not constitute financial or legal advice. For advice tailored to your specific circumstances, please consult with a qualified professional.