State of Sydney Report December 2021

A select number of Sydney suburbs, ranging from working class to elite, are likely to outperform the market in the near term, according to the Shore Financial State of Sydney Report.
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:

● Quintile 1 = Working Class Sydney
● Quintile 2 = Suburban Sydney
● Quintile 3 = Rising Sydney
● Quintile 4 = Professional Sydney
● Quintile 5 = Elite Sydney

In Campbelltown (Working Class Sydney), asking prices for houses are forecast to increase 8.6% in the next six months.

In Rydalmere (Suburban Sydney), asking prices are forecast to increase 17.4% in the next six months.

Kellyville (Rising Sydney) asking prices are forecast to increase 12.6% in that period.

Ashbury (Professional Sydney) asking prices are forecast to increase 15.3%.

In Manly (Elite Sydney), asking prices for houses are forecast to increase 16.9% in the next six months.

Shore Financial CEO Theo Chambers said the Shore Financial State of Sydney Report provides valuable data for first home buyers, investors and upgraders, whatever their price-point.

“This quarterly report focuses on leading indicators, rather than lagging indicators, which means instead of talking about how prices have changed in the past, it forecasts how prices are likely to move in the next six months,” he said.

“All the top suburbs in this report have low inventory levels and low days on market. That means they’re strong seller’s markets, which means buyers have to compete hard to outbid other buyers. That, in turn, is likely to drive significant price growth in the near future.”

However, Mr Chambers said buyers should not rely solely on the Shore Financial State of Sydney Report when planning their next purchase. “Buyers should do thorough due diligence and evaluate a wide range of criteria before buying a property,” he said.

“It’s also a good idea to get advice from a mortgage broker, like Shore Financial, so you can discuss different repayment scenarios and organise a pre-approval.”