The latest Shore Financial State of Sydney Report has identified which Sydney suburbs are
likely to outperform the market over the next six months.
The quarterly Shore Financial State of Sydney Report divides Sydney’s 600-plus suburbs
into five quintiles, based on their current median asking price for houses:
The quintiles are:
● Quintile 1 = Heartland Sydney
● Quintile 2 = Suburban Sydney
● Quintile 3 = Rising Sydney
● Quintile 4 = Professional Sydney
● Quintile 5 = Affluent Sydney
Standout suburbs – Heartland Sydney (quintile 1)
Standout suburbs – Suburban Sydney (quintile 2)
Standout suburbs – Rising Sydney (quintile 3)
Standout suburbs – Professional Sydney (quintile 4)
Standout suburbs – Affluent Sydney (quintile 5)
Shore Financial CEO Theo Chambers said the research for the latest Shore Financial State of Sydney Report confirmed that the wider Sydney property market has turned the corner.
“Twelve months ago, prices were falling in most suburbs across Sydney. Six months ago, the turnaround had just begun, but it was too early to know for sure. Now, though, we can say with certainty that Sydney is in growth mode,” he said.
“During the past six months, we’ve seen days on market and inventory levels fall in many parts of Sydney. In other words, market conditions have swung from buyers to sellers, which has been reflected in rising asking prices. That said, it’s important not to get carried away, because there’s a difference between a rising market, which we’re in, and a booming market, which we’re definitely not in.
It’s also important to realise that while prices are rising across Sydney as a whole, they’re not rising in every single suburb. Also, the outlook differs from suburb to suburb. Our research shows that wealthier suburbs, like Naremburn on the North Shore and Fairlight on
the Northern Beaches, are likely to record stronger growth over the next half-year than less affluent suburbs like Busby and Green Valley in the city’s west.
Focusing just on the 25 suburbs in the Shore Financial State of Sydney Report, they’re all showing strong signs they’ll outperform suburbs in a similar price bracket over the next half-year. One of the key leading indicators is the low levels of inventory in these suburbs.
Demand pressures are building, which is likely to lead to above-average price growth.”